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AI contract tool targets confusion over buyer representation agreements
LernMore says it breaks down NAR’s written buyer agreement clauses into plain language with examples in more than 70 languages.
Two years after the National Association of Realtors required written buyer agreements before a home tour, AI contract tool LernMore says consumers are still struggling to understand key clauses.
HousingWire reports that the 2024 NAR policy, implemented through its commission lawsuit settlement agreement, was designed to improve transparency around how agents are compensated and how buyers are represented. LernMore says contract comprehension issues persist at the consumer level and can later surface as disputes over whether clients understood terms.
LernMore, launched in 2024, offers a platform that translates contract provisions from buyer agreements and related transaction documents into plain language, with practical examples. The company says it supports more than 70 languages and includes features such as text-to-speech and FAQs to improve comprehension.
The outlet reports that LernMore founder Leslie Lerner said many people do not speak legalese, and that disputes can cost agents time, income, and reputation. LernMore also argues the risk of later claims about misunderstood terms is heightened when consumers sign multiple documents before meaningful contact with an agent or attorney, especially for buyers with limited English proficiency.