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NAR Proposed Settlement Resources

Greater Southern MLS is committed to helping our users navigate this evolving landscape.

This page contains resources and information regarding the recent NAR settlement announcement.

Real Estate Professional, Budge Huskey, does a solid job at defining the truth
behind common media misconceptions in this timely article.

3/22/24

Settlement Briefing

Learn the latest from this settlement briefing from NAR President Kevin Sears and Chief Legal Officer Katie Johnson

3/21/24

Kevin Sears, NAR President

Discussing Settlement Considerations and Ongoing Advocacy Efforts

Summary of Q/A from Kevin Sear's Updates

Was this settlement a surprise development?

No, NAR has been discussing settlement options since before the trial began.

Why didn't NAR appeal?

To appeal would have required NAR to post a $5.4 billion bond, which they did not have the resources to provide, and could lead them to Chapter 11 bankruptcy. It also would’ve left all MLSs and brokerages named in copycat lawsuits to fend for themselves.

What is the financial component of the settlement?

NAR will pay $418 million over the next four years and is working on how to remit that payment without interrupting the tools, resources, and advocacy its members depend on.

What rules changes are coming from NAR?

As of now, NAR has announced these pending rules changes:

There will be no more cooperating compensation on the MLS. Agents will still be able to offer compensation to a buyer broker, but it just cannot be conveyed on the MLS.
If you are a REALTOR MLS participant, you will need a written agreement when representing a buyer.

How quickly will the settlement be reviewed/approved by the court?

The process will take months, but we anticipate final approval by the end of the year.

Will NAR raise dues to fund the settlement?

NAR will not be changing the membership dues for 2024 or 2025.

Outside of the MLS, does the agreement affect how agents can advertise?

No, the settlement does not restrict advertising off of the MLS

For more information from NAR on the proposed settlement visit

https://www.nar.realtor/the-facts