The Consumer Federation of America and the National Urban League conducted a survey to investigate how first-time homebuyers have been affected by the National Association of Realtors settlement, which rewrote commission standards for the industry. “The worrisome growth in pocket listings indicates the need for a broader cultural shift in how real estate agents work with consumers,” the report stated.
The National Association of Realtors (NAR) announced that it will be “opting-in” to the master settlement of Tuccori et al. v. At World Properties et al., a 2024 antitrust class action centered on buyer-agent commissions. NAR CEO Nykia Wright said this settlement provides a broader level of protection for the industry than any previous NAR settlement.
The National Association of Realtors announced that it will be “opting-in” to the master settlement of Tuccori et al. v. At World Properties et al., a 2024 antitrust class action centered on buyer-agent commissions.
The plaintiffs in the class action homebuyer commission lawsuit Mya Batton et al. v. National Association of Realtors et al. filed a memorandum in support of the motion for preliminary approval of class action settlement with RE/MAX, LLC, stating they “successfully achieved an $8.5 million settlement with RE/MAX.”
The National Association of Realtors (NAR) released a statement on “coming soon” listings after Zillow announced the launch of its Zillow Previews, which allows pre-market listings to be publicly visible on its platforms. NAR also supplied a “coming soon” checklist for multiple listing service policy compliance.
Keller Williams agreed to settle the class action homebuyer commission lawsuit Mya Batton et al v. National Association of Realtors et al for $20 million, resolving claims engaged in a conspiracy to fix real estate broker commissions and inflate home prices.
LERA MLS, a Texas-based multiple listing service (MLS), is considering consolidation with the Coastal Bend Association of Realtors and its MLS, South Texas MLS, evaluating if a “broader regional alignment could deliver long-term value to brokers and agents. RESPA News reached out to attorney Marx Sterbcow of Sterbcow Law group and The Realty Alliance CEO Craig Cheatham for their take on the move.
October Research gave an overview of a resource guide from the National Association of Realtors that provides information on the real estate industry practices and policies that were changed following the Sitzer-Burnett settlement.
October Research reached out to Craig Cheatham, president and CEO of The Realty Alliance, to find out how the Sitzer-Burnett v. NAR settlement affected compensation for real estate agents and changed the way brokerages conduct business.
The Sitzer-Burnett v. NAR settlement in March 2024 spurred numerous changes within the real estate and settlement services industries. Several industry leaders shared how their transactional processes changed following the settlement.
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