Settlement Factsheet: Proposed Agreement on Broker Commissions Litigation ​(2024)

This document provides an overview of the proposed settlement agreement between the National Association of Realtors (NAR) and plaintiffs regarding claims related to broker commissions. ​ The agreement aims to resolve claims against NAR, over one million NAR members, state/territorial and local REALTOR® associations, association-owned Multiple Listing Services (MLSs), and brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. ​ The settlement is subject to court approval. ​​

Key highlights include the coverage of NAR's release, implications for members, brokerages, NAR and other REALTOR® associations, association-owned MLSs, and other MLSs. ​ Additionally, the document outlines new rules about compensation offers on the MLS and written agreements. ​ The effective date for the latest compensation rule is mid-July 2024. ​(Houston, TX MLS area)

The settlement aims to provide clarity and resolution for NAR members and other parties involved in the litigation while preserving consumer choices regarding real estate services and compensation. ​ NAR remains committed to supporting its members and advancing the industry. ​ The settlement amount will be paid over approximately four years, and NAR will continue to deliver value, advocacy, and resources to its members. ​

Please note that the settlement is subject to court approval, and interested parties can object during the approval process. ​ For the latest information and updates on the settlement, visit FACTS.REALTOR and COMPETITION.REALTOR. ​