Day: July 22, 2024

What You Need to Know About the NAR Settlement

(Updated July 22, 2024)On March 15th NAR announced a proposed settlement of $418 million in the Sitzer-Burnett case regarding broker commissions. This settlement aims to resolve litigation for claims made by home sellers about commission structures. It covers NAR, its over one million members, REALTOR® associations at all levels, association-owned MLSs, and brokerages led by an NAR member with a residential transaction volume up to $2 billion in 2022. This settlement does not cover agents affiliated with HomeServices of America and its related companies, still contesting the case. Similarly, employees of other corporate defendants named in the lawsuit are excluded. Idaho REALTORS® wants to ensure that our members understand the shifting nature of this landscape and are kept appraised of the most pertinent developments. As we look ahead and prepare…

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