Category: NAR Commission Lawsuit

The NAR Commission Lawsuit: 2023 Update

The NAR Commission Lawsuit is a significant legal case involving the National Association of Realtors (NAR), focusing on commission structures and antitrust allegations.

Key Cases and Developments

Burnett v. National Association of REALTORS et al.: This case, set for trial on October 16, 2023, challenges the fairness of buyer-broker commission payments.
Sitzer/Burnett Buyer-Broker Commissions Trial: Featuring testimonies from Gary Keller and Marc King, this trial addresses allegations of commission rate conspiracies.

Recent Testimonies

Gary Keller: Keller Williams’ co-founder contested the notion of a standard 6% commission, stating that his company doesn’t impose fixed rates.
Marc King: The President of Keller Williams echoed Keller’s statements, denying any company-wide commission mandates.

Potential Industry Implications

The lawsuit’s outcome could lead to significant changes in commission practices and antitrust regulations in the real estate industry.

Upcoming Jury Deliberations

Jury deliberations in the Sitzer/Burnett trial may begin soon, with closing arguments expected shortly.

Stay informed on the NAR Commission Lawsuit, a crucial issue for real estate professionals and consumers alike.

Biden DOJ’s Concerns and Implications for Real Estate – Continue to Mess With the Free Market

December 16, 2024 Published by Ethan Harris

Navigating the NAR Settlement: DOJ’s Concerns and Implications for Real Estate As of December 2024, the U.S. Department of Justice (DOJ) has raised critical questions about the National Association of Realtors’ (NAR) proposed $418 million settlement to resolve the Sitzer/Burnett commission lawsuit. While the DOJ has not officially taken a stance on the settlement's approval, it has highlighted several concerns that could have long-term implications for the real estate industry. Here’s an in-depth look at the DOJ’s reservations, NAR’s proposed changes, and what this means for real estate professionals and consumers. Explore the DOJ’s concerns about the NAR commission lawsuit settlement and what it means for real estate professionals, buyers, and sellers. DOJ’s Primary Concerns About the Settlement The DOJ’s concerns center on ensuring that... Read more

DOJ Raises Concerns Over NAR Settlement and Buyer Agent Agreements

November 25, 2024 Published by Bob Smeltz

DOJ Raises Concerns Over NAR Settlement and Buyer Agent Agreements Explore the DOJ’s concerns over the NAR settlement, its potential impact on buyer-agent agreements, and what it means for the future of real estate practices. The U.S. Department of Justice (DOJ) recently weighed in on the $418 million settlement proposed by the National Association of Realtors (NAR) to resolve antitrust lawsuits in the Sitzer/Burnett case. While the settlement aims to address allegations of inflated real estate commissions and restrictive practices, the DOJ has expressed concerns about its broader implications, particularly regarding buyer agent agreements and antitrust enforcement. This article explores the DOJ's position, the implications of the settlement, and what it means for the real estate industry moving forward. DOJ’s Key Concerns 1. Antitrust Enforcement... Read more

Landian, the latest venture from Josh Sitzer

August 30, 2024 Published by Dylan Young

Landian: Disrupting the Real Estate Industry or Rehashing Old Ideas? A Comprehensive Look at Josh Sitzer's New Startup LET ME START BY SAYING THIS GUY IS AN IDIOT (or at the very least didn't do his research). WE HAVE HAD DOZENS OF FLAT FEE STARTUPS JUST LIKE HIS IN MY MARKET. THEY ARE ALL GONE! Josh Sitzer's New Startup In the ever-evolving landscape of the real estate industry, new startups frequently emerge, each promising to revolutionize the way homes are bought and sold. The latest contender to enter the scene is Landian, co-founded by Josh Sitzer, a name that has become well-known due to the landmark Sitzer/Burnett lawsuit, which resulted in a significant verdict for the plaintiffs in 2023. Sitzer, leveraging his newfound notoriety, has... Read more

What the NAR Settlement Means for Home Sellers

August 30, 2024 Published by Southwest Florida Homes for Sale

What the NAR Settlement Means for Home Sellers: Key Insights NAR Settlement for Home Sellers: Selling a home involves many decisions, and having the right guidance is essential. Agents who are REALTORS® are trusted professionals who can help you navigate the complexities of the selling process. The recent settlement by the National Association of REALTORS® (NAR) has introduced several changes related to broker commissions that are important for sellers to understand. Here’s a clear breakdown of what these changes mean for you as a home seller. 1. Key Changes for Home Sellers The NAR settlement has resulted in specific updates that impact how sellers interact with buyer brokers and manage commissions. Here’s what you need to know: Offering Compensation to Buyer Brokers: As a seller,... Read more

What the NAR Settlement Means for Homebuyers

August 30, 2024 Published by Southwest Florida Homes for Sale

What the NAR Settlement Means for Homebuyers: Key Takeaways NAR Settlement for Homebuyers: Buying a home is one of the most significant financial decisions you’ll ever make, and having a knowledgeable agent by your side is crucial. If your agent is a REALTOR®, you can trust them to guide you through the process with your best interests at heart. The recent settlement by the National Association of REALTORS® (NAR) has introduced several changes that benefit homebuyers. Here’s what you need to know about how these changes will impact your homebuying experience. 1. Key Changes for Homebuyers The NAR settlement has resulted in some important updates that directly affect homebuyers. Here’s a breakdown of what has changed: Written Agreement with Your Agent: Before you start touring... Read more

real estate commission lawsuit – real estate commission changes

August 15, 2024 Published by Sammy Loggins

real estate commission lawsuit - real estate commission changes The landscape of real estate commissions is undergoing a significant transformation in 2024, primarily due to a series of lawsuits and settlements involving the National Association of Realtors (NAR). These changes, set to take effect in mid-August 2024, will alter how real estate agents are compensated, impacting both buyers and sellers in the housing market. Key Changes in Real Estate Commissions: Elimination of MLS Compensation Offers: One of the most notable changes is the prohibition of offers of compensation through Multiple Listing Services (MLS). Previously, it was common for sellers to offer a commission to buyer’s agents as part of the MLS listing. This practice is now being eliminated, requiring buyer agents to negotiate their compensation... Read more

NAR Realtor Commission Lawsuit Explained

July 9, 2024 Published by Jenny Baghaen

NAR Realtor Commission Lawsuit Explained July 9, 2024 (updated July 17, 2024) By Jenny Baghaen 1. NAR Realtors’ Lawsuit Settlement Summary So the silly real estate agent commission lawsuits have been filed against the National Association of Realtors (NAR) and other real estate companies. NAR was accused of inflating home prices through standard commission practices (ridiculous). The settlement will get rid of the 5%-6% commission rate (some think this means higher commission rates), here are five changes to the real estate industry pending court approval: Compensation will no longer be listed or advertised on the MLS. Written agreements will be required for MLS participants representing buyers before showing a property). NAR will pay $418 million over 4 years. NAR and its members will be released from liability. NAR denies any... Read more

Real Estate Agents Continue To Try to Navigate Their Commissions After the NAR Settlement and Lawsuit

June 17, 2024 Published by Danny Skelly

Being a real estate agent has never been easy. It involves long hours, often without any pay. Real estate agents like Danny Skelly of Orson Hill Realty only get paid when they close a deal. An agent may spend months showing homes to buyers who, for various reasons, might never complete a purchase. Similarly, sellers with unrealistic expectations or an unwillingness to make necessary repairs can prevent a sale. Now, real estate agents face additional challenges due to the new NAR lawsuit and settlement affecting the industry. The NAR Lawsuit and Settlement Impact on Buyers and Sellers The National Association of Realtors (NAR) faced a significant legal challenge addressing Realtors' commission structures and practices within the industry. This settlement has made a ton of changes... Read more

DORA – Colorado Real Estate Commission Possession on NAR Commission Settlement

April 16, 2024 Published by Danny Skelly

This is the actual letter statement sent out to all Colorado real estate agents Director’s Corner Commission Settlements and Colorado Licensees The Division has received a lot of inquiries about the proposed settlementagreement between the National Association of Realtors (“NAR”) and plaintiffsRhonda Burnett, Jerod Breit, Jeremy Keel, Hollee Ellis, Francis Harvey, ChristopherMoehrl, Michael Cole, Steve Darnell, Jack Ramey, Daniel Umpa, Jane Ruh, DonGibson, Lauren Criss, and John Meiners, and the impacts that the proposed agreementwill have on broker compensation in Colorado. If you have not read the proposedagreement or are unfamiliar with the proposed terms, you can review a copy here. As an initial matter, it is important to note that the settlement terms are onlyapplicable to members of NAR and the Realtor MLSs. Colorado... Read more

NAR National Association of Realtors (NAR) has proposed a substantial settlement

March 27, 2024 Published by Jenny Baghaen

National Association of Realtors (NAR) has proposed a substantial settlement The National Association of Realtors (NAR) has proposed a substantial settlement in response to lawsuits regarding broker commissions. This proposal is a notable event within the real estate industry, marking a shift in how transactions and compensations are handled. Here's an overview of the settlement and its implications: NAR Settlement Amount: The National Association of Realtors (NAR) agreed to pay $418 million to settle lawsuits related to broker commissions. Payment Schedule: The settlement will be paid in installments over four years, with significant portions due at various intervals after court approval. Offers of Compensation: The agreement mandates the elimination of compensation offers through the MLS, a significant change in how buyer agents are compensated. Buyer... Read more