The National Association of REALTORS® (NAR) has reached an agreement to pay $52.25 million to resolve nationwide homebuyer claims stemming from commission litigation. This settlement, announced Friday, is subject to court approval and will be paid out over several years into a settlement fund.
The agreement aims to provide broad protections to a wide range of industry participants, including REALTOR® members, state and local associations, Multiple Listing Services, and eligible brokerages. This move is part of NAR’s commitment to protecting and advancing the legal interests of its members and fostering a more resilient real estate industry.
Key Takeaways
- NAR will pay $52.25 million over multiple years to settle nationwide homebuyer claims.
- The settlement requires continued compliance with practice changes established under the earlier Sitzer/Burnett agreement.
- The agreement offers broad protections to REALTOR® members, associations, MLSs, and eligible brokerages.
- NAR is seeking to pause the Batton et al. v. National Association of REALTORS® et al. lawsuit due to similar allegations.
Settlement Details and Protections
The settlement is a significant development in the ongoing commission litigation, particularly the Tuccori et al. v. At World Properties et al. class-action lawsuit. NAR’s CEO, Nykia Wright, stated that the agreement provides a broader level of protection and release for the industry than any previous NAR settlement. This aims to reduce uncertainty and potential financial exposure for its members.
Continued Compliance and Future Outlook
A crucial aspect of the agreement is the requirement for continued adherence to the practice changes previously established under the Sitzer/Burnett agreement. No new changes are being introduced as part of this settlement. NAR views this agreement as a fulfillment of its commitment in its 2026-2028 Strategic Plan to protect its members’ legal interests and enhance industry stability. The organization also highlighted the dismissal of multiple antitrust cases over the past nine months under its new legal leadership.