Housing Wire
NOVEMBER 8, 2023
Though these policies have been put in place to avoid future antitrust lawsuits, legal experts who spoke to HousingWire said they might not be enough. But the policy may still present a legal issue, as it requires listing agents to make an offer compensation, even if that offer of compensation is in fact nothing ($0), law professors said.
Housing Wire
JANUARY 2, 2024
The complaint argues that the NAR and the brokerage defendants collude “to impose, implement and enforce anticompetitive restraints that cause home sellers to pay inflated commissions on the sale of their homes, in violation of federal antitrust law.” Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,
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Housing Wire
MAY 3, 2024
17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. In addition, agents and brokers will be required to provide compensation disclosures to sellers. Originally, the trade group had said the practice changes would go into effect in mid-July.
Housing Wire
MARCH 14, 2024
Legal experts told HousingWire that it is rare to see the Fed offer an opinion about an ongoing legal debate, as it typically does not want viewed as an influence on court decisions. This model requires that sellers and buyers each pay their agents directly to mitigate the threat of steering by buyer agents,” the paper states.
Housing Wire
MARCH 13, 2024
In their motion, the parties wrote that they “dispute the factual and legal arguments made in the DOJ’s Statement of Interest.” Preventing sellers and listing agents from setting buyer-broker commissions would promote greater price competition and innovation in the market for brokers’ services,” the DOJ argued.
Housing Wire
FEBRUARY 29, 2024
In the filing, the parties wrote that they “dispute the factual and legal arguments made in the DOJ’s Statement of Interest.” Preventing sellers and listing agents from setting buyer-broker commissions would promote greater price competition and innovation in the market for brokers’ services,” the DOJ argued.
Housing Wire
MARCH 15, 2024
NAR’s legal counsel approved the settlement agreement early Friday morning. According to NAR, this settlement brings an end to all of the litigation claims brought by home sellers. The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. It has yet to be filed in court.
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