Posts from March 21st, 2024

The National Association of Realtors (NAR) reported that they have reached a settlement in multiple copycat lawsuits around the country involving home sellers claiming the association's policies surrounding Realtor compensation artificially increased their costs. This settlement must first be approved by the federal court before it goes into effect. The highlights of this settlement include:

• Offers of compensation must be removed from the MLS beginning July 2024
• Buyer representation agreements will be mandatory starting July 2024
• The payment of $418 million in damages over 4 years to the plaintiffs

Key Rule Changes (Not Finalized)

• Offers of compensation to buyers' agents will not be allowed in the MLS
• Buyer agreement must be signed before showing properties and that the buyer ag...

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