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The verdict in the NAR lawsuit has made it likely the real estate industry won’t be able to charge 5%-6% commission rates across the board, writes Stephen Brobeck.
The NAR currently represents about 1.6 million Realtors, with 90% of agents cashing in an average commission of 5% to 6% — equal to $100 billion in annual commissions.
Cases are known in which one party won the case, but lost more than the monetary worth in court costs. Court costs may be awarded to one or both parties in a lawsuit, or they may be waived. [1] In the United Kingdom, Australia and Canada, the losing side is usually ordered to pay the winning side's costs. This acts as a significant disincentive ...
Total settlement: $60 million. Deadline to file claim: May 18, 2023. Requirements: Must have been an unlimited data customer between Oct. 1, 2011 and June 30, 2015.
Initially Burnett sought $10 million, but her attorney sued in California courts for $1.6 million—which a jury awarded Burnett, in actual and punitive damages. However, the presiding court cut the award, and in subsequent appeals the award was reduced to $200,000—though the final settlement was out-of-court.
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
In a personal injury lawsuit in common law jurisdictions, the two basic forms of compensatory damages that may be awarded are economic damages, compensation for the injured person's past and future financial costs and losses, and non-economic damages, compensation for the pain and suffering which results from an injury. As many jurisdictions ...
A payout from a tech giant may be in your future, if you are game enough to file a claim by next month. Oracle America agreed to settle a class-action lawsuit in May for $115 million over ...