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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]
March 15, 2024 at 5:42 PM. ... NAR already lost a big case. For decades, the NAR has required home sale listing brokers to provide an offer of compensation to a buyer’s agent up front. That ...
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 ...
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 National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
On March 3, 2023, the USDA petitioned the Supreme Court to hear its case. On June 20, 2023, the court granted certiorari. It was argued on November 6, 2023. [4] On February 8, 2024, Justice Gorsuch delivered a unanimous opinion holding that the Fair Credit Reporting Act expressly waives the sovereign immunity of the United States.
The settlement comes months after a federal jury in Missouri found the NAR and two brokerages liable for $1.8 billion in damages for conspiring to keep agent commissions artificially high. The NAR ...
The DOJ was joined in filing the lawsuit by twenty-eight state attorneys general, as well as the attorney general for the District of Columbia. [a] [11] [12] The DOJ and states are pursuing a jury trial in the case. [3] On August 19, 2024, ten additional state attorneys-general joined the lawsuit, bringing the total number of co-plaintiffs to ...