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On March 15, 2024, the National Association of Realtors announced that it would settle the lawsuit rather than appeal. The group agreed to change how commissions are paid and to pay back $418 million over four years. [16] The judge presiding over the case granted preliminary approval to the settlement on April 23, 2024. [17]
A groundbreaking $418 million settlement announced Friday by the powerful National Association of Realtors is set to usher in the most sweeping reforms the American real estate market has seen in ...
A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay ...
The US Department of Justice threw even more doubt into a new way of paying for real estate brokers this week, raising concerns about a recent wide-ranging legal settlement.
A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States.. On ...
The brokerages all settled out-of-court, and in March 2024, NAR settled as well, agreeing to pay $418 million in damages and change some of their longstanding rules. (Final court approval was ...
However, recent lawsuits argued the NAR stifled competition among real estate brokers and violated antitrust laws by requiring the seller’s agent to make an offer of payment to the buyer’s ...
NAR, which boasts 1.5 million members, has agreed to pay $418 million in damages to settle a wide range of lawsuits in courts across the nation, including the shocking $1.8 billion verdict awarded ...