The Role of Loan Officers in the NAR Settlement
James Dwiggins breaks down the real-world impact of the NAR settlement five days after August 17th, covering what agents are getting right and wrong, where the next wave of lawsuits is headed, and how loan officers can seize a rare collaborative opportunity. Essential listening for any LO who wants to become a genuine strategic partner to agents — both listing and buyer sides — in this new compensation environment.
The NAR settlement is the single biggest opening in years for loan officers to move from vendor to indispensable partner by educating both buyers and agents on how compensation actually works under the new rules.
Takeaways you can run this week
- Host a 'Home Buying in the New World' consumer seminar — co-present with a buyer's agent and a listing agent — addressing the mainstream media myth that buyers must pay their agent out of pocket. Dwiggins says almost no one is running these events yet; first mover advantage is wide open.
- Call every agent you've closed a deal with and offer to sit in on their buyer consultations to present the four compensation options: (1) buyer pays agent directly, (2) seller pays agent directly via offer, (3) seller pays concessions that buyer uses to pay agent, (4) finance it into the transaction structure — Dwiggins explicitly said this is 'the greatest opportunity of your career.'
- Create a one-page financing flyer showing all four options for covering buyer-agent compensation under the new rules. Bring it to open houses, agent offices, and listing presentations so listing agents can hand it to buyers and structure better offers.
- Approach listing agents with this specific framing: 'I can help your sellers evaluate offers on net proceeds, not just gross price — a buyer offering $100K over asking but requesting agent comp can net the seller $50K more than a cash offer at asking.' Use the exact AB offer example Dwiggins gave to anchor the conversation.
- Warn agent partners — in writing or in a class — that agents signing forms or colluding with other brokerages to refuse showings on homes not offering buyer-agent comp are committing steering and potentially collusion; plaintiffs' attorneys Douglas Miller and Michael Catchmark have publicly stated they will target these practices.
- Advise listing agent partners to use this exact seller script: 'Seller is willing to entertain any and all requests — put it in your offer.' Do not advertise a compensation rate in advance; Dwiggins says doing so could expose listing agents to fiduciary breach claims from sellers who left money on the table.
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GET FREE ACCESSThe playbook
- Step 1 — Buyer consult opening: 'This is my fee, this is what we agreed to, here are your services.'
- Step 2 — Present the four compensation options: buyer pays directly, seller pays agent directly in offer, seller pays concessions to buyer who pays agent, or adjust price/strategy.
- Step 3 — Address the 'I won't show homes without comp' objection: 'Every house is for sale. It's my job to get you into any property you want. We'll tour it, write an offer, and negotiate. Sellers want to sell.'
- Step 4 — Bring in the loan officer: 'This is my LO — here are the additional 230 steps required to get your loan approved.' Joint presentation builds complexity, credibility, and team confidence for the buyer.
- Step 5 — Seller listing presentation: Ask 'What's most important to you?' When they say net proceeds, explain: 'We will not advertise a comp rate. We'll take all offers, compare net proceeds across all scenarios, then decide strategy.'
- Step 6 — Evaluate offers on net: Present side-by-side net proceeds from each offer regardless of whether buyer-agent comp is included, letting math drive the seller's decision.
Worth quoting
“Every house is for sale. It is my job to get you into that property. Any house you want to look at, we're going to look at it.”
“For every loan officer listening — you have the greatest opportunity of your career. Get your butt on the phone, call every agent you've ever worked with.”
Best for
LOs who already have agent relationships but haven't yet positioned themselves as a strategic partner on buyer compensation strategy under the post-NAR settlement rules.