What You Need to Know About the NAR Settlement

Updated August 9, 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. 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 for the evolving industry, we will continue to update this page and keep our members informed with any new information and guidance as it becomes available.

Further Reading and Resources

WEBINAR | NAR SETTLEMENT AND FORMS UPDATE

Webinar Highlights:

  • Detailed explanation of the NAR Settlement and its implications.
  • Overview of the new form changes effective from August.
  • Practical guidance on using the new forms and ensuring compliance.

We encourage our members to review this recording to stay informed and ensure you are up-to-date with the latest industry changes. Additionally, if you have any further questions or need clarification, feel free to email us at .

PRESENTATION | NAR Settlement Agreement Overview with Idaho REALTORS® CEO, David Hensley
In this video update from Idaho REALTORS®, CEO – David Hensley – shares an overview of the recent proposed NAR Settlement Agreement. This presentation is based on his understanding and opinion of the NAR Settlement Agreement, and its impact on REALTORS® in Idaho. David also outlines the settlement’s terms, its implications for real estate practices, and provides an explanation of NAR’s timeline for implementation. It is the aim of this presentation to address common misconceptions about the settlement agreement and offer insights into the path forward for REALTORS® in Idaho. If you have any additional questions or want to know more about the developing NAR Settlement please visit the resources available on NAR’s website at Facts.Realtor OR Competition.Realtor.

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