Stop asking me
if Drake or Kendrick is winning and start asking me if sellers or buyers are
winning. Today, we're diving into the biggest beef of the year—the NAR lawsuit.
Imagine this showdown as an epic rap battle between Kendrick Lamar and Drake,
where buyers and sellers of homes drop diss tracks instead of bucks. Let me pop
out and show you.
🎤 Round 1: Choices Galore
In this corner, we have Kendrick Lamar, representing euphoric home buyers. The NAR settlement is like Kendrick's fire track, preserving your right to choose how you roll in the real estate game. Whether you want a full-service realtor or just some advice on the side, you get to pick your representative. You have more than 6:16 in LA or New York to choose.
🎤 Round 2: The MLS Quiet Zone
And in the other corner, here’s Drake, letting you know family matters for the sellers. After the new rules drop, listing brokers and sellers can still offer compensation for buyer broker services, but they’ve got to keep it off the MLS. It’s like Drake whispering sweet nothings about commissions—but now it’s off the record. Sellers can still shout out their concessions like paying for your closing costs via the MLS, as long as it’s not tied to using a specific buyer broker. Like a BBL, it is now done on the DL.
🎤 Round 3: Written Agreements, Yo!
Kendrick and Drake might be spitting bars, but NAR wants you to be spitting signatures. NAR has always been big on written agreements, and now, MLS participants working with buyers must put it in writing. So when realtors meet the Grahams, they must sign representation agreements. This change takes effect in late July 2024. Think of it as Kendrick getting all his lyrics down on paper before hitting the studio—clear, precise, and ready to rock. But hurry, you know Kendrick drops every couple of hours, so keep up.
🎤 Round 4: The Consumer Clarity Cypher
Once the new rule kicks in, anyone acting for buyers must have a written agreement before touring homes. It’s like setting the stage for a battle—everyone knows their role, their lines, and what’s at stake. No more hidden fees or vague promises; it’s all laid out in the agreement, so you know exactly what services you’re getting and for how much. If anyone tells you different, they not like us. This transparency helps avoid the drama and keeps the beats flowing smoothly.
🎤 The Final Showdown
For home buyers, these new rules mean you get the full Kendrick experience: clarity, control, and no surprises. For sellers, it’s all about playing it like Drake—smooth, strategic, and ahead of the game. And for our realtor friends, it means less freestyle, more structure.
In this battle of real estate, the NAR settlement is making sure everyone gets their metro boomin. So, as you navigate the real estate scene humming BBL Drizzy, remember: it’s not just about the house—it’s about hitting all the right notes.
If you need help keeping your contracts tight and your offers even tighter… AskHollingsworth.
Photo: NAR President-Elect Kevin Brown (CA) (on the left) , Broker Rey Hollingsworth Falu (middle), 2025 NAR President Kevin Sears (MA) (on the right)