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Since last year, REALTORS® have been required to follow the NAR settlement rules requiring the use of buyer representation agreements. However, effective January 1, 2025, REALTORS® are also subject to a new law, Assembly Bill 2992, which in many ways goes further than the NAR settlement in mandating the use of buyer representation agreements.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) issued the following statement on the passage of C.A.R.-sponsored bill AB 2992 (Nguyen):

"The California Association of REALTORS® applauds Gov. Newsom for signing C.A.R.-sponsored bill AB 2992 (Nguyen) into law as part of a package of bills that will strengthen protections for California consumers," said C.A.R. President Melanie Barker, a Yosemite REALTOR®. "By mandating buyer broker representation agreements, consumers will have more choice and more clarity about the services they are getting from the REALTOR® they choose to help them through a complex transaction.

We commend Assemblymember Nguyen for her commitment to safeguarding consumers and upholding the integrity of our industry."