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.
View the detailed source article here.
July 25, 2024
VOLUME III – JULY 2024 UPDATES TO C.A.R. FORMSExplore the significant updates to the C.A.R. forms following the DOJ settlement. This article provides a detailed overview of the changes in real estate practice, focusing on buyer representation, residential listing agreements, and the new MLS rules.
June 28, 2024
June 2024 New & Revised C.A.R. Forms: Part IIExplore the critical updates to C.A.R. forms effective June 25, 2024, including changes to the Residential Purchase Agreement, new buyer and seller forms, and essential updates for property management.
May 24, 2024
C.A.R. Form Updates: NAR Settlement ChangesDiscover the key changes in real estate practices and C.A.R.® forms resulting from the N.A.R.® Sitzer/Burnett Settlement. Learn how these updates affect offers of compensation, written agreements, and broker commissions.