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This month, the rules in residential real estate are changing. The National Association of Realtors said the changes included in a settlement to end antitrust legal claims officially take effect ...
Homebuyers and home sellers would instead pursue commission negotiation with real estate professionals, where the rule comes as the result of a proposed $418 million settlement, as reported by USA ...
Now, on top of that, come the new NAR rules. Instituted in August, as part of a federal lawsuit settlement, the association’s guidelines affect how Realtors are compensated.
Jurors found that all the defendants in the case "knowingly and voluntarily" engaged in a conspiracy with the goal of "raising, inflating, or stabilizing broker commission rates paid by home sellers" by following and enforcing NAR's cooperative compensation rule. The jury awarded $1.8 billion in damages, which was eligible to be trebled to $5.4 ...
In October, a federal jury found the NAR and some major brokerages liable for colluding to inflate commission fees, ordering the trade group to pay a historic $1.78 billion in damages.
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.
Carol Burnett v. National Enquirer, Inc. was a decision by the California Court of Appeal, which ruled that the "actual malice" required under California law for imposition of punitive damages is distinct from the "actual malice" required by New York Times Co. v. Sullivan to be liable for defaming a "public figure", and that the National Enquirer is not a "newspaper" for the purposes of ...
The settlement reached by the National Association of Realtors (NAR) over real estate agent commissions could end up hurting an already beleaguered group: homebuyers.. The $418 million deal ...