Kentucky Housing Facts
from Kentucky REALTORS®

KY REALTORS® is here for our Members. Check out these resources to help guide you through the upcoming practice changes.

REALTORS® are essential to the communities they serve.
Learn how to communicate your value & address misinformation regarding the NAR Settlement with the resources in this Toolkit.

Resources for REALTORS®

KYR has compiled a variety of resources to help you & your buyers/sellers understand the settlement
and the changes necessary to implement it. Download and use as you see fit.

Fact Sheets & Information

Social Media Materials

Click here for the new statewide Buyer/Broker Agreement

What to know:

NAR Settlement

On March 15, 2024, The National Association of REALTORS® (NAR) reached an agreement with plaintiffs that would, if approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions. The Settlement also includes some changes to real estate transactions, but importantly, consumers will continue to have choices regarding real estate services.

We encourage you to review the information below to learn the most up-to-date information about home buying and selling in Kentucky to guide you on your real estate journey. Contact a local REALTOR® for more information about the industry-wide changes and for support with your real estate transaction.

Litigation FAQs Financing FAQs

Why did NAR enter into this settlement?

From the beginning of this litigation, NAR had two goals:

Preserve the choices consumers have regarding real estate services and compensation.
Secure a release of liability for as many of its members, associations, and MLSs as possible.

This proposed settlement achieves both of those goals and provides a path for industry professionals to continue working
to preserve, protect and advance the mission of
homeownership for all

What are the important terms of the settlement?

NAR agreed to pay $418 million into the class action settlement fund over 4 years.

NAR agreed to the following rule changes:

Removal of compensation from the Multiple Listing Service (MLS).
Require written agreements with buyers before touring a home.
Agents working with buyers may not receive compensation in excess of the buyer agreement.
Sellers’ agents must obtain written permission from the seller before making any offers of cooperative compensation.
Disclosure on certain legal forms that commissions are not set by law and are fully negotiable.

These changes were implemented on
August 17th, 2024