Unraveling the Impact of NAR Settlement
A deep-dive into the NAR $418M settlement: what actually changed, what the media got wrong, and what it means for loan officers. Best for LOs who want a fact-based answer when agents, borrowers, or referral partners ask about the settlement.
Almost nothing in how deals close actually changes — cooperative compensation moves outside the MLS but can still be written into seller concessions, so the real opportunity is for LOs to reposition now before the dust settles.
Takeaways you can run this week
- Stop cold-calling buyer-side agents with thin pipelines. Pull your closed loan files from the last 12 months, identify the listing agents on those deals, and call those agents first — they have buyer leads, buyer agent teams, and survive market downturns better than buyer-only agents.
- Host a local town-hall panel on the NAR settlement: invite 2-3 active listing agents, a title rep, and a real estate attorney. Promote it as a community education event. Use this format to position yourself as the informed resource — not another vendor pitching rate.
- Prepare a 60-second NAR settlement explainer for your next buyer pre-approval call. Cover: (1) BAC can still be paid via seller concessions, (2) buyer must sign a buyer-broker agreement upfront, (3) it won't automatically lower home prices. Delivering clarity on this converts nervous buyers into confident borrowers.
- Identify VA and FHA buyers in your pipeline immediately and flag them as highest-risk under the new rules — they have the least flexibility to absorb buyer-agent costs if sellers refuse to concede. Have a frank conversation about strategy before they start touring homes.
- Diversify your referral source list beyond real estate agents. As Kleiman suggested: add divorce attorneys, probate attorneys, and estate planners to your outreach list. Draft a short intro email this week and send to 3 contacts in each category.
- Post a short social media video this week debunking the '6% commissions slashed' headline. Use the factual frame: 'Here's what actually changed vs. what the media is saying.' This is a direct engagement play for both agents and consumers in your market.
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GET FREE ACCESSThe playbook
- 1. Pull last 12 months of closed loans — flag every listing agent involved.
- 2. Call or text those listing agents referencing a shared closed deal as the opener.
- 3. Invite them to co-host or attend a local NAR settlement town-hall panel you're organizing.
- 4. At the panel, present the factual changes: BAC out of MLS, buyer-broker agreements required, seller concessions still viable workaround.
- 5. Follow up individually with agents who attend — offer to be their go-to lender for buyer pre-approvals, framing yourself as the LO who helps buyers understand their full cost picture including representation.
- 6. Add 3 non-agent referral sources (divorce attorney, probate attorney, estate planner) to your pipeline as parallel channels.
Worth quoting
“If your business is entirely about courting buy-side agents, you're at a really big disadvantage.”
“Call the people doing the business. Provide them value. Give them something to chew on.”
Best for
LOs whose referral base is almost entirely buyer-side agents and who haven't yet built relationships with listing agents or non-agent referral sources.