TheFacts

The Facts About the Proposed
National Association of REALTORS® ("NAR") Settlement:

The materials here are intended for reference by members, staff, and anyone supporting the National Association of REALTORS®. They will help provide background on current events related to the association and give you the tools to talk about them. Communication resources will be updated as needed; readers are cautioned to ensure that the most recent publications are utilized.

 

What happened?  What was the Lawsuit about?

The Background:

Here is a brief explination about the lawsuit and NAR's resoning for appealing the courts decision.

LINK: NAR to Appeal Burnett Trial Verdict After Being Found Liable - October 31, 2023 from REALTOR® Magazine

LINK: NAR's President Kevin Sears shares comments on the Real Estate Today Podcast on March 28, 2024.

LINK: NAR Settlement Agreement Overview with Idaho REALTORS® with CEO David Hensley - March 2024.

To get a better understanding of the details of the settlement and how it will effect you, please watch this 32 minute VIDEO that explains the Settlement in Detail. PLEASE WATCH IT!  It goes over many of the questions you may be asking.  How will I get paid?  What changes need to be made to the MLS?  What is the timeline for changes?

VIDEO: Settlement Briefing - 32:00 - March 22, 2024 - Talks about "Practice Changes" we will need to do.  Potential MLS Rule changes to be implemented.  These changes are expected to be implemented mid July of 2024. - Talks about how you will be paid in the future.

PDF: Settlement Overview - This Document is of the 12 slides shown in the Settlement Briefing VIDEO from March 22, 2024

PDF: REALTOR® Magazine: Special Supplement: Seperate Litigation Facts from Fiction - April 2024

PDF: FACT SHEET - Read the details of NAR's action

PDF: Who is covered - March 23, 2024 - a PowerPoint Slide showing Who is covered under this settlement.

 

LINK: Settlement Agreement Facts Toolkit <- This site is continually being updated!  LOOK HERE!!! (It has Posts to be placed on Social Media)

LINK: NAR Reaches Agreement to Resolve Home Seller Class Action Lawsuits - March 15, 2024

LINK: NAR Press Release: NAR Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers - March 15, 2024 from NAR.REALTOR

 

PDF: NAR Litigation FAQ's - March 20, 2024 - Questions asked and Answers given.  RE: Compensation, Loans for Buyers, VA Loans, Can Commissions be financed?

PDF: NAR Litigation FAQ's - March 26, 2024 - PowerPoint Slides explaining certain FAQ's

 

VIDEO: Litigation Update from NAR President Kevin Sears and CLO Katie Johnson - 6:04 - March 15, 2024

VIDEO: Kevin Sears: Discussing Key Settlement Considerations - 5:05 - March 21, 2024

 

LINK: Updates provided by NAR about the settlement Process as it unfolds <- Competition.REALTOR

LINK: The Truth About The NAR Settlement - March 22, 2024 from REALTOR® Magazine

LINK: Correcting the Record: NAR Does Not Set Commissions - March 19, 2024

 

PDF: The Settlement Agreement - Legal documentation of the settlement - 108 pages

PDF: Settlement Timeline - 1 page showing the estimated timeline

 

PDF: eMail from Kevin Sears about How we do our Jobs and how we get paid

PDF: eMail from Idaho REALTORS® President regarding the Settlement

PDF: eMail from Kevin Sears (another one) about what it means for our industry

 

LINK: Fortune Magazine - Tim Hur - April 2, 2024

 

Remember:  All of these details / Documents are subject to change.  The Settlement has not been approved.

 

If you have any Questions please reach out to us:

NAR: (800) 874-6500 * Contact Us  * LIVE Chat * Member Support is available Mon-Fri, 7am to 4pm

IR: (208) 342-3585 * dHensley@IdahoRealtors.com * www.IdahoRealtors.com/NAR-Settlement

GIFAR:  (208) 523-1477 * Mike@GIFAR.org *  Member Services Mon-Fri, 8:30am to 5:00 pm

 

Updated April 12, 2024