Proposed Settlement Announcement by NAR

The National Association of REALTORS® (NAR) has announced a proposed settlement agreement to resolve litigation concerning broker commissions on behalf of home sellers. This settlement aims to address claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned Multiple Listing Services (MLSs), and brokerages with an NAR member as a principal, specifically those with a residential transaction volume of $2 billion or less in 2022. The agreement is pending court approval. For detailed information about the proposed settlement, click here.

Important Update:

• Current practices remain unchanged.
• If approved, changes are anticipated to be implemented by mid-July.
• NAR projects the implementation process may take several months or longer.