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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]
An industry-shaking lawsuit has upended the way commissions are paid. ... The brokerages all settled out-of-court, and in March 2024, NAR settled as well, agreeing to pay $418 million in damages ...
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 ...
March 19, 2024 at 11:46 AM The settlement reached by the National Association of Realtors (NAR) over real estate agent commissions could end up hurting an already beleaguered group: homebuyers.
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 ...
April 24, 2024 at 1:27 PM Joe Raedle/Getty Images 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 ...
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 ...
The lawsuit (and two others) could lead to a 30% reduction in the $100 billion that Americans pay each year in real-estate commissions, said Ryan Tomasello, a real-estate industry analyst with ...