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 inflate commissions paid by sel...
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...
But this has been the center of a titanic ongoing lawsuit that may end up affecting how much you spend buying or selling your next home. We’ll touch on this in a bit. Seller credits. Also known as “seller concessions,” these are buyer closing costs that the seller has agreed to ...
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As the real estate industry adapts to the changes brought about by the NAR settlement, other sectors should take note. Ensuring that compensation structures are transparent, competitive, and legally sound is more critical than ever. With QCommission, businesses can confidently m...
If a settlement agreement is accepted within a lawsuit between two people, the court generally won't look at the settlement. Yet, in a federal class-action lawsuit, one that affects a large number of people, there will be a period for the court and interested parties to review the settleme...
CBS News confirmed that the five people aboard the submersible wereHamish Harding, a 59-year-old British billionaire, business owner and explorer; British-Pakistani businessman Shahzada Dawood and his son, Suleman; French explorer Paul-Henri Nargeolet, who had made multiple dives over the yea...
Traditionally, listing agents and buyer's agents participating in a MLS agreed to share commissions, with the buyer's agent's compensation included in the non-consumer facing section as part of the listing. In the wake of aclass-action lawsuit about agent commissions, this "cooperative compensati...
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...
The National Association of Realtors (NAR) settled a lawsuit in 2024 that was based on full-service broker commissions. The suit was brought on behalf of home sellers. NAR's settlement prohibits offers of broker compensation on the Multiple Listing Service (MLS) but this agreement would not af...