To help our membership address the impacts of the Burnett v. NAR et al case, C.A.R. has prepared several resources designed to provide you with answers to some commonly asked questions and guidance on the latest industry updates.
NAR Litigation
REALTOR® Value
The Facts for REALTORS®
A central resource for updates and materials about NAR’s steadfast commitment to strengthen the association, defend REALTORS® and their immense value, and look to the future is available at facts.realtor. (April 5, 2024)
REALTORS® Magazine
Read the special digital supplement REALTOR® Magazine with 16 pages of important content that will dispel misinformation about the proposed settlement. It also includes valuable resources that help separate litigation facts from fiction, debunk myths, and help explain the importance of a written buyer agreement. (April 11, 2024)
NAR reaches agreement in claims brought by home sellers
The National Association of REALTORS® (NAR) announced an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.
The settlement, which is subject to court approval, makes clear that NAR continues to deny any wrongdoing in connection with the Multiple Listing Service (MLS) cooperative compensation model rule (MLS Model Rule) that was introduced in the 1990s in response to calls from consumer protection advocates for buyer representation. Under the terms of the agreement, NAR would pay $418 million over approximately four years.
Find the latest updates and resources on the NAR Settlement at NAR reaches agreement in claims brought by home sellers (car.org). (April 17, 2024)
View the video message from C.A.R. President Melanie Barker. (March 15, 2024)
Buyer's Agent Resources
As real estate brokerage models change, there is more reason now than ever before for a real estate licensee working with a buyer to document that relationship, including the possibility of payment. Learn about buyer representation agreements including the Buyer Representation and Broker Compensation Agreement (C.A.R. Form BRBC) and their use in real estate transactions.
Visit the Buyer's Agent Resources page for more.
National Association of REALTORS® Competition.Realtor Website
For a comprehensive overview of and many resources for how REALTORS® and local MLS broker marketplaces benefit consumers, NAR prepared a collection of FAQs, videos, and other guidance as well as updates on the Burnett v. NAR et al verdict and ongoing lawsuits.
Please visit Competiton.Realtor to access these resources.