Short sales are a type of real estate transaction where a home sells for less…
Several weeks ago, the United States Department of Justice filed a complaint against the National Association of Realtors for alleged anticompetitive acts. In addition to filing the complaint, the DOJ proposed a Final Judgement or settlement for the case. It is unclear if settlement in this case will affect the outcome of a lawsuit filed by homeowners against the National Association of Realtors and four major brokerages. If this judgment is approved, the settlement will require the association to:
- Be more transparent about the commissions due to buyer brokers
- Stop falsely indicating buyer brokers do not charge for their services
- Repeal rules that bar filtering listings of the multiple listing service based on the level of buyer commission
- Stop limiting access to lock boxes of real estate brokers affiliated with the association
We will continue to provide updates on this case as it develops.