On Friday, April 12, 2024, the U.S. Judicial Panel on Multidistrict Litigation decided against consolidating copycat commission lawsuits into one large case—at least for the time being.
Tom Toole breaks down three things every real estate agent needs to do in light of the commission lawsuits going to trial.
Here’s a timeline of recent events and changes facing the National Association of Realtors® (NAR), along with its reactions.
A little more than a week before the Sitzer/Burnett class action suit goes to trial, NAR reversed course and said it’s now allowing listings with $0 for buyer compensation.
RE/MAX, LLC has reached a settlement with the plaintiffs in the class action lawsuits known as Moerhl and Burnett (formerly Sitzer), making them the second defendant to settle and agree to some changes in their business practices.
Anywhere has agreed to settle both class action lawsuits challenging the current system for buyer agent commissions. Other defendants, including the National Association of Realtors (NAR), RE/MAX, and Keller Williams are still set to go to trial.
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