NAR Litigation Update

Litigation Update: Preliminary Approval of Settlement Agreement Granted

4/23/2024

Today, Judge Bough granted that motion which means that as of today, the settlement agreement is preliminarily approved. Settlement class members are now enjoined from filling complaints or prosecuting any claims based on the type of conduct at issue in Sitzer-Burnett and the other settled Actions on behalf of home sellers related to broker commissions against NAR or other parties that are released under the settlement. 

Read the update

Dispelling 7 Myths About NAR's Proposed Settlement

4/17/2024

National Association of REALTORS® leaders have been talking to reporters and members full-time over the past month to correct the record about the association’s decision to resolve nationwide claims brought by home sellers. You can help by challenging inaccurate information that you see appearing in social media posts, news articles or elsewhere. 

Read the Article

REALTOR® Magazine Digital Supplement

Read the special digital supplement of REALTOR® Magazine with 16 pages of important content that will dispel misinformation about the proposed settlement. It also includes valuable resources that help separate litigation facts from fiction, debunk myths, and help explain the importance of a written buyer agreement.

Read the supplement

NAR Litigation Settlement – What it Means for LIBOR Members

Gain clarity on NAR’s proposed settlement agreement and its current implications for LIBOR members. Hear about what we know so far concerning the new rules proposed in the settlement and what steps you can start taking now to prepare for the changes that are ahead. 

Watch The Webinar

A Message from LIBOR CEO, Doreen Spagnuolo

3/22/24

Despite all of the news circulating about the NAR lawsuit proposed settlement, it's important to carry on with your usual business activities and remain patient about the changes that will lie ahead. 

Right now, there are no rule changes that would alter how you currently operate as a real estate professional. You should be adhering to your broker's Standard Operating Procedures and maintaining your usual professional approach when representing buyers and sellers, ensuring transparency and honesty throughout.

Read More

90% of homebuyers have historically opted to work with a real estate agent or broker. Here’s why that’s unlikely to change, according to the National Association of Realtors

National Association of REALTORS’® REALTOR® Party Community Engagement Liaison addresses the misinformation surrounding NAR’s recent settlement and reiterates the value real estate professionals provide to consumers. Read more here: 

Read More

National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers

The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.

Read More

Correcting the Record: NAR Does Not Set Commissions

Following recent inaccuracies in media coverage, including the false representation or suggestion that NAR requires a standard 6% commission, NAR has issued a statement of facts regarding real estate commissions. 

The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. Other rules throughout the MLS Handbook and NAR policy expressly prohibit setting or suggesting any such amount.

Read Statement