Changes in Policy and Practice
As part of the settlements, both RE/MAX and Anywhere Real Estate will be required to implement significant policy and practice changes. One of the key changes is the elimination of the requirement for agents to be members of the National Association of Realtors (NAR) or adhere to NAR’s Code of Ethics or the MLS Handbook. This change will provide agents with more flexibility and independence in their business practices.
Additionally, both companies will need to inform their clients that commissions are negotiable. This will give agents the freedom to set or negotiate commissions as they see fit, providing more options for both agents and clients.