Navigating the Shift: Norm Polsky Breaks Down Real Estate Lawsuit Changes

In August 2024, Coldwell Banker Premier Group Broker/Owner Norman Polsky explained important real estate practice changes taking effect for buyers, sellers and real estate professionals.

What Changed in Residential Real Estate?

The nationwide practice changes took effect on August 17, 2024. Many real estate professionals working with a buyer are required to enter into a written agreement before touring a home. These agreements explain the services the professional will provide and how compensation will be handled.

Offers of compensation can no longer be communicated through an MLS. Compensation remains negotiable, and sellers may still choose to offer compensation outside the MLS when it supports their goals and is handled according to applicable rules.

Why Clear Conversations Matter

The changes made communication between consumers and real estate professionals even more important. Buyers should understand the services they will receive before touring properties. Sellers should discuss their available marketing and compensation options with their agent before choosing a strategy.

Norm’s original video gives Coldwell Banker Premier Group agents practical context from the period when the changes were implemented. For current details, review the National Association of REALTORS® settlement FAQs and speak with a qualified real estate professional about your specific transaction.

Experienced Local Real Estate Leadership

Coldwell Banker Premier Group provides agents with accessible brokers, training and support as industry rules evolve. Learn more about our company’s local leadership and the support agents should expect from a St. Louis real estate brokerage.

Updated August 2026. This article is for general informational purposes and is not legal advice. Rules and transaction requirements can vary by location and circumstance.