What Does the Recent NAR Settlement Mean for Buyers? malhotraspokaneReal EstateSeptember 2, 2024 The National Association of Realtors recently settled a class action lawsuit regarding how commissions are advertised. What does this mean for buyers? Very little. The manner in which buyer’s agent co...
Other fees: Sellers also pay some of the same fees buyers do, such as an attorney’s fee and prorated property taxes. Who pays Realtor commissions? Due to the National Association of Realtors (NAR) lawsuit settlement earlier this year, as of August 17, 2024, sellers might not be responsi...
Redfin CEO reacts to NAR's $418 million commission lawsuits settlement Alandmark class-action lawsuitmay change the way Americansbuy and sell homes. The National Association of Realtors agreed toa $418 million settlementlast week in anantitrust lawsuitwhere a federal jury found the organization an...
What the lawsuits are about The settlement stems from a federal class-action antitrust lawsuit, Burnett v. National Association of Realtors et al., filed in Kansas City, Missouri. Last October, a jury sided with the plaintiffs, agreeing that NAR and large brokerages conspired to i...
baseless that you’d be forgiven for wondering why he even bothered. That is, until you realize that these claims are filed not because they have any merit or stand any chance of success, but in order to impose punishing litigation costs on his perceived opponents. The lawsuit is the ...
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Editor’s note:On March 15, 2024, the National Association of Realtors (NAR)announceda landmark lawsuit settlement that will change the way real estate agent commissions are handled in the future. These changes will “decouple” seller and buyer agent compensation. Industry experts predict that ...
To be clear, the 20% figure does not mean that Apple believes its own patents have five times the value of Samsung's portfolio. That would only apply if both parties had the same sales volume (and if the negotiating tactics mentioned in the previous paragraphs didn't play a role). The...
On March 15, 2024, the National Association of Realtors settled a class action lawsuit by homeowners who alleged that the NAR had illegally inflated the commissions charged to realtors. As part of the $418 million settlement, the NAR agreed to stop allowing broker compensation offers on its li...
Transaction costs can change because of shifting industry norms, but in some cases, they are impacted by government or judicial action. For example, a 2024 settlement in a lawsuit against the National Association of Realtors (NAR) proposed eliminating the standard 6% commission rate that was split...