Official announcements from involved brokerages or court documents

15 MLSs, 13 Brokerages Add $30.6M to NAR Settlement, Creating 'New Competitive Ballgame'

Oct 3, 2024, 05:19 PM

Fifteen Multiple Listing Services (MLSs) and 13 brokerages have opted into the National Association of Realtors' (NAR) commission settlement, agreeing to pay an additional $30,587,754 in compensation to home sellers, raising the total settlement fund to nearly $450 million. According to industry experts, the real estate fees settlement has created 'a new competitive ballgame,' signaling significant changes in how realtor commissions are structured. Despite these settlements, the battle over how realtor commissions are paid is far from settled. Two more brokerages have recently agreed to settle in the commissions case, while the Top Agent Network has renewed its antitrust lawsuit aimed at NAR's Clear Cooperation Policy. Recent rule changes by NAR are expected to have substantial impacts on sellers, potentially reshaping the competitive landscape of the real estate industry.