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Burnett v. National Association of Realtors (formerly Sitzer v. National Association of Realtors) is a class-action lawsuit challenging the fees charged by real estate agents in the United States. The case was filed against the National Association of Realtors and some of the largest brokerages in the country.
The case, Burnett v. NAR et al, is the first of two antitrust lawsuits centered on NAR’s commissions policy to go to trial, and it could upend the structure of the entire real-estate industry ...
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 ...
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 ...
"This settlement is a significant milestone in this case against the National Association of Realtors and the Nation’s four largest real ... National Association of Realtors and Burnett v. NAR.
For decades, the NAR has required home sale listing brokers to provide an offer of compensation to a buyer’s agent up front. That usually comes out to about 6%, split between a seller’s broker ...
NAR still denies any wrongdoing. Essentially, the industry-standard of a 5% to 6% commission was baked into a sellers’ MLS listing, and the seller’s agent and buyer’s agent would split it.
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 sell their homes in the United States.. On ...