The trade group, which has long set the standard for real estate practices, has agreed to settle numerous lawsuits by paying $418 million in damages and getting rid of its rules on commissions. Industry experts toldThe New York Timesthat the settlement "will blow up the market and would forc...
the country's largest trade association, requires home sellers to offer a non-negotiable commission before listing homes on its property database, known as the Multiple Listing Service, or MLS, which feeds into real estate sites such as
The core issue addressed in the lawsuit was the alleged price fixing by the NAR and various real estate brokerage firms to maintain artificially high commission rates. With the seller no longer obligated to pay the buyer's agent commission, the market now has the autonomy to determine the compe...
The National Association of Realtors (NAR) is a national organization ofreal estatebrokers, known asrealtors, created to promote the real estate profession and foster professional behavior in its members. The association has its owncode of ethicsto which it requires its members to adhere. As of...
Define NAR. NAR synonyms, NAR pronunciation, NAR translation, English dictionary definition of NAR. Noun 1. National Association of Realtors - a United States association of real estate agents which follows a strict code of ethics association - a formal.
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