
The Department of Justice (DOJ) is intensifying its scrutiny of the National Association of Realtors (NAR) practices, with a focus on ending practices that could be costing consumers significantly. A key issue is the practice of 'double dipping,' where agents represent both buyers and sellers, potentially leading to conflicts of interest and higher costs for consumers. The DOJ's Statement of Interest in the MLS Pin Settlement aims to eliminate co-broker bribes, which could save consumers up to $30 billion annually. An appeals court decision has allowed the DOJ to further investigate the NAR, which could lead to more separation between buyers' and sellers' agents. This comes amid concerns that the proposed NAR settlement might not fully address these issues, with predictions that it could lead to an increase in off-MLS sales and undermine the potential for consumer savings. The University of Minnesota Law School hosted a discussion on the proposed NAR Settlement, concluding that without banning co-broker bribes and off-MLS workarounds, the settlement would fail to realize its money-saving potential for consumers. The DOJ's actions against the NAR could potentially save consumers an average of $10,000 per sale, amounting to $100 billion over five years.

#RECALL: Eager to debrief deep dive into proposed #NARSettlement hosted by @UofMNLawSchool Consensus = failure to BAN #CoBrokerBribes & #offMLS workarounds will undermine moneysaving potential Additional action needed to by #DOJvsNAR to #Save_10K / sale #Save_100B over 5 yrs https://t.co/zeIqowp2pk
News Flash: A panel of judges considering whether to consolidate real estate commission lawsuits into one cited the recent NAR settlement as a reason to deny the request. https://t.co/9lrfMBdzzY #sitzerburnett #NARsettlement
Most U.S. Homebuyers in the Dark About Agent Commissions https://t.co/1X1Ck82oPW