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The jury found the NAR and some of the country's largest real estate brokerage firms entered into illegal agreements that cost home sellers in the state $1.79 billion in losses.
A landmark agreement would eliminate real estate brokers' automatic commissions of up to 6%, potentially saving home buyers and sellers thousands of dollars.
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 ...
The National Association of Realtors (NAR) recently reached a landmark $418 million settlement that experts say could rattle the real estate industry for the better — but some vulnerable ...
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.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
"Broker compensation has always been decided between a real estate firm and its client, and that practice is not changing, either at the national or local level," Hinton said in a March 19 news ...
In a significant turn of events for the real estate industry, the NAR reached a proposed $418 million settlement agreement in a class-action antitrust lawsuit. The lawsuit, brought on by a group ...