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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 ...
On the other hand, real estate sales is a relatively easy business to get into, as evidenced by NAR’s membership rolls of more than 1.5 million agents. To earn a real estate license, an agent ...
The plaintiffs’ main beef: An NAR rule that requires sellers to agree to pay a commission to both the buyer’s and seller’s agents before their home can be listed on a database called the ...
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.
The Department of Justice brought an antitrust lawsuit against the NAR trade group in 2005. [ 3 ] [ 4 ] The complaint accused the association of unfairly limiting access to the multiple listing service (MLS), which effectively prevented online brokerages from competing with traditional brick-and-mortar offices.
Billionaire investor Warren Buffett weighed in on a class-action lawsuit filed against major U.S. real estate firms, which have been accused of violating antitrust laws.. In the suit – known as ...
The modern-day Department of State and the position of Secretary of State dates to 1845, when Florida achieved statehood. The secretary of state of Florida was elected by the people of the state in a general election. In 1998, [3] constitutional changes removed the secretary of state from the elected Cabinet of the executive branch. [4]