03/15/2024
Well NAR’s President Kevin Sears just announced a proposed settlement to Sitzer-Burnett. We have been saying this for months- The solution is simple take commissions out of the MLS.
• NAR will pay 4 easy payments of $418 Million over 4 years.
• Liability will be discharged for almost 1 Million NAR members.
• Compensation will be removed from the MLS by NAR rule.
• Brokers/Agents will negotiate directly with the consumers.
• Buyer ‘Brokerage Agreements’ will become mandatory.
With court approval this will go into effect in July 2024.
Watch the video here:
https://www.nar.realtor/competition-in-real-estate?narmail=CEOMessage&date=03-15-2024&user=88951&itid=9305011