In this week's episode of Real Estate Today, NAR President Kevin Sears gives the facts about the $418 million settlement and what it means for homebuyers and sellers.
Settlement Briefing - March 22, 2024
A settlement briefing from NAR President Kevin Sears and Chief Legal Officer Katie Johnson.
Kevin Sears: Discussing Key Settlement Considerations and Ongoing Advocacy Efforts On the Road
A message from NAR President Kevin Sears about recent association developments and priorities.
Litigation Update from NAR President Kevin Sears and CLO Katie Johnson
Hear how NAR's resolution provides a path forward for the industry and helps ensure consumer choice.
Correcting the Record: NAR Does Not Set Commissions
Following recent inaccuracies in media coverage, including the false representation or suggestion that NAR requires a standard 6% commission, NAR has issued a statement of facts regarding real estate commissions.
The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. Other rules throughout the MLS Handbook and NAR policy expressly prohibit setting or suggesting any such amount.
NAR Responds to President Joe Biden's Remarks on Lowering Housing Costs for American Families
Commissions were already negotiable before the resolution was reached and will continue to be negotiable as they have been. NAR appreciates President Biden's continued focus on the affordable housing crisis.
National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers
The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.
Frequently Asked Questions
Settlement FAQ at facts.realtor
Answers about NAR’s settlement, including key terms, who is covered, practice changes, and NAR operations, in English and Spanish. Updated May 9, 2024.
Financing FAQ at facts.realtor
Answers to financing-related questions regarding NAR’s settlement, in English and Spanish. Updated April 16, 2024.