Implement Practice Changes by August 17
Louisiana REALTORS® • July 18, 2024
Reminder from National Association of REALTORS®
Ahead of the August 17 implementation of NAR’s practice changes, we wanted to provide a few reminders of actions that are required to obtain a release of liability and protect your organization from claims related to broker commissions:
- We recommend all MLSs implement practice changes by August 17. REALTOR® MLSs (those owned exclusively by one or more REALTOR® Member Boards) must implement the changes by this date to remain in compliance with NAR policy.
- Offers of compensation are prohibited on MLSs. Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers, including first-time homebuyers, increase homeownership opportunities for historically underserved groups, and benefit sellers by expanding the potential buyer pool.
- Agents working with a buyer must enter into a written agreement before touring a home. Ahead of August 17, NAR encourages all members to address form changes and prepare to educate real estate professionals and consumers about revised forms. NAR policy does not dictate terms of buyer agreements, but NAR has created resources to assist with implementation of the settlement terms—such as tips on clarity and emphasizing consumer choice—including our “Written Buyer Agreements 101” resource, available here.
The practice changes are detailed here, and clarifying information is available in our FAQ on facts.realtor.
We also want to make you aware of several recent updates to facts.realtor including:
- Question #70 has been updated to provide additional clarity on what it means for compensation to be “objectively ascertainable and not open-ended” in written buyer agreements.
- Our financing FAQs have been updated and added to our full FAQ (#92-98) (Please note: these questions are no longer a standalone document).
- We’ve added a resource with tips on Broker-to-Broker agreements.
- The latest legal updates on the settlement and DOJ engagement can be found in our video here.
Louisiana’s 2026 Regular Session opened this week with several developments that matter directly to REALTORS ®, property managers and housing providers, alongside some broader political shifts worth watching. HB 292: Security Deposit Return Timelines Rep. Delisha Boyd’s HB 292, which addresses procedures for returning residential security deposits, was deferred to next week. This provides additional time for stakeholders to engage with members on practical impacts for lease administration, move out inspections and documentation standards. We’ll continue working to ensure any changes to deposit law are clear, workable and do not expose housing providers to unreasonable liability. Land Use and Development: St. James Parish Decision The Louisiana Supreme Court’s recent St. James Parish decision significantly tightens the standards for overturning local land use decisions, reinforcing that zoning and permitting authority rests with parish and municipal governments as long as their decisions are not arbitrary or capricious. For real estate and development, that means more predictability if projects are aligned with adopted plans and ordinances, but also higher stakes in local elections, planning processes and parish-level negotiations. Governor’s State of the State In his State of the State address, Governor Jeff Landry reiterated his push to phase out the state income tax, expand the LA GATOR and MJ Foster scholarship and workforce programs, and replace vehicle inspection stickers with a QR code system. These programs frame a debate around long-term competitiveness, workforce readiness and household cost of living which are all key drivers of housing demand and migration patterns. Business & Market Trends The business community is focusing the session on insurance, workforce and energy. Commercial and property insurance costs remain a top concern for employers and property owners, and we are monitoring civil justice and insurance reform proposals that could affect market stability and availability. At the same time, Louisiana is seeing more than $100 billion in announced industrial and data center projects, which could reshape local markets, labor conditions and housing needs in multiple regions of the state. Please view the weekly bill tracking report at the link below provided by our lobbying team over at Harris, DeVille and Associates.
Learn how Louisiana real estate regulations, disclosure laws, and licensing standards help protect homebuyers and create safer, more transparent transactions.
Nominations are open now through April 24, 2026, for the Louisiana REALTORS® 2025 REALTOR® of the Year & the 2025 Lawrence R. DeMarcay, Jr. Distinguished Service Award. Both awards are aimed to showcase an individual who has volunteered their time in service to the real estate industry. Recipients of the awards will be recognized during the Spring Legislative Conference. (Registration coming soon!) Please see the below links with the selection criteria and consider submitting a nomination today. Contact Donna Teekel at (225) 224-0704 or dteekel@larealtors.org with any questions.
