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In 1996, as part of its rules governing multiple listing services, NAR adopted a rule requiring Realtors to make "blanket unilateral offers of compensation" when listing homes for sale on an MLS. [7] These offers of compensation were required to be "a percentage of the gross selling price or as a definite dollar amount" and were to be paid by ...
As part of the settlement, the NAR agreed to no longer require a broker advertising a home for sale on MLS to offer any upfront compensation to a buyer’s agent.
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 usually comes out to about 6% ...
The NAR settlement was ... The first prohibits agents’ compensation from being included on multiple listing services, which are centralized databases used by Realtors to share details about ...
The jury ordered NAR and others to pay nearly $1.8 billion in damages to a class of more than 250,000 home sellers. Under antitrust law, that figure can be tripled to over $5 billion, at the court ...
The brokerages all settled out-of-court, and in March 2024, NAR settled as well, agreeing to pay $418 million in damages and change some of their longstanding rules. (Final court approval was ...
Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws. Under the terms of settlement, which was announced in ...
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 ...