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A class action lawsuit led by plaintiff James Lutz against HomeServices and other members of the National Association of Realtors (NAR) alleges that they fixed commissions, misleading buyers and causing them to pay inflated home prices. Following the lawsuit, NAR has agreed to a settlement that will introduce significant changes to real estate broker compensation policies. These changes, detailed by NAR's chief legal officer Katie Johnson in a recent letter, are set to take effect in mid-August. The settlement will also allow seller's agents the option not to offer commissions to buyers' agents, a shift that could impact both buyers and sellers.
Buyer Agents, there are a variety of ways to receive payment after NAR’s proposed settlement of the antitrust class action lawsuits brought on behalf of home sellers related to broker compensation. https://t.co/3W7884roYK
Very soon, perhaps by the Fall, seller’s agents won’t be required to offer commissions to buyers’ agents. We asked our team of Realtors their thoughts on the National Association of Realtors lawsuit and how it could impact you -- the buyer or seller. https://t.co/dxVJ1Gs2ua
This week we got our first glimpse into some of the practical, procedural changes that we'll see in the aftermath of NAR's commission lawsuit settlement. https://t.co/tJCpVbLKcO