NAR Implements New Policies, Redfin Settles for $9.25M in Broker Commission Lawsuits

May 6, 2024, 09:23 PM

The National Association of Realtors (NAR) has implemented new policy changes set to take effect on August 17, following a settlement to avoid a jury verdict on inflated commission charges. These changes are a result of an antitrust class action lawsuit brought on behalf of home sellers concerning broker compensation. Additionally, Redfin has agreed to pay $9.25 million to settle similar antitrust lawsuits over broker commissions. This settlement is part of broader industry adjustments that have pushed the total settlements by NAR and other brokerages close to $1 billion.