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NAR runs out of liability insurance coverage: Sources

Housing Wire

Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. NAR’s insurance policy is tapped out, and there are no funds available for REALTOR Associations and MLSs for legal defense costs,” Hahn wrote.

Insurance 544
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Chuck E. Cheese, MLS listing books and the correct pronunciation of ‘Realtor’ were on the table during HousingWire’s commission lawsuit debate

Housing Wire

“I was sitting on my couch and I saw Michael on CNBC calling us a cartel, saying that we take money that doesn’t belong to us, and I was infuriated at that rhetoric and I was infuriated at what that infers about Realtors,” Lamacchia said. “It It dehumanizes Realtors and turns us into money-making machines.”

Realtors 441
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NAR releases flood disclosure tracker as federal shutdown looms again

Housing Wire

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. Data from the Legal Research Center concluded that all 50 states and Washington, D.C., America’s 1.5

Legal 420
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

JND Legal Administration is in charge of distributing the mailers, emails and press releases. The firm was appointed as the designated settlement administrator for the suit in 2022, over a year prior to any settlement agreements being reached. It is further exasperating the negative stereotype some people have of Realtors.

Agents 432
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Sitzer plaintiffs expected to rest their case today

Housing Wire

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. During his testimony, Alford said that NAR’s Participation Rule “is not designed to benefit home sellers.”

Legal 410
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Zillow moves to have REX suit dismissed

Housing Wire

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

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Zillow victorious in false advertising suit with discount brokerage

Housing Wire

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. In a verdict announced late Friday afternoon, a jury in a U.S. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business.