November 1, 2023
In a significant ruling from Kansas City, the National Association of Realtors (NAR), HomeServices of America, and Keller Williams have been found liable by a jury for allegedly colluding to maintain or inflate high commission rates, specifically through NAR’s Clear Cooperation Rule and Mandatory Participation Rule. In sum, it appears that the jury determined that the rule requiring MLS listings to offer compensation to the buyer’s broker renders the traditional long-standing business practice unlawful. This verdict emerged from the Sitzer/Burnett buyer broker commission lawsuit after only two hours of jury deliberation.
Stay tuned for more updates on this significant ruling.
This update is based on the article “Missouri jury finds Realtors, brokerages guilty of conspiring to inflate commissions,” originally written by Brooklee Han, Sarah Wheeler, and James Kleinmann, and published by Housingwire on October 31, 2023. The original article can be read here [https://www.housingwire.com/articles/missouri-jury-finds-nar-brokerages-guilty-of-conspiring-to-inflate-commissions/]. This summary has been adapted to fit our newsletter format.
November 17, 2023New and Revised C.A.R. Forms for December 2023
Discover the latest updates from the California Association of REALTORS® with Tyler Law, LLP's comprehensive guide on new and revised real estate forms set to release in December 2023. Learn about the critical Buyer Homeowners’ Insurance Advisory, changes in lease agreements, property questionnaires, and more. Stay informed and ahead in the real estate market with expert insights and detailed summaries of these essential updates for real estate professionals.
November 1, 2023Antitrust Verdict in Missouri May Affect Real Estate Commissions and the NAR
In a significant ruling from Kansas City, the National Association of Realtors (NAR), HomeServices of America, and Keller Williams have been found liable by a jury for allegedly colluding to maintain or inflate high commission rates, specifically through NAR’s Clear Cooperation Rule and Mandatory Participation Rule.
October 31, 2023Revisiting an Old Friend: Transfer Disclosures Required by Sellers Upon Sale or Transfer of California Residential Property
Explore the intricacies of California's residential property disclosure requirements, highlighting the importance of the Real Estate Transfer Disclosure Statement, its components, and the consequences of non-compliance for both buyers and sellers.