How the 2024 NAR Rules Impact Home Buying and Selling
In March 2024, the National Association of Realtors (the “NAR “) agreed to pay $418 million to settle antitrust lawsuits alleging it conspired to inflate agents’ commissions, which, in turn, had been artificially driving up the cost of homes. On November 26, 2024, a judge granted final court approval of the NAR settlement, which according to the NAR website, secured “a release of liability for over 1.4 million NAR members, all state/territorial and local REALTOR® associations, REALTOR® multiple listing services (MLSs), NAR’s affiliate organizations and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. The settlement also releases MLSs and brokerages that chose to opt-in to the agreement.” See how the new 2024 NAR rules impact homebuyers and home sales moving forward.