Beyond the $450 Million Settlement: What Real Estate Professionals Need to Know
The real estate industry continues its rapid evolution, and the intersection of technology and legal challenges has created a tumultuous landscape for agents and brokers. On March 14, 2024, a significant milestone occurred when the National Association of Realtors (NAR) settled a landmark lawsuit for over $450 million. Additionally, the NAR agreed to change commission rules that previously required the seller to pay both the selling broker and the buyer’s broker. This settlement not only reflects the shifting dynamics within the industry but also sets the stage for a deeper examination of the challenges faced by real estate professionals, particularly in the context of class actions and antitrust litigation.
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