The National Association of REALTORS® (NAR) reached an agreement with plaintiffs that would, if approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions. The Settlement also includes some changes to real estate transactions, but importantly, consumers will continue to have choices regarding real estate services. These practice changes will go into effect on August 17, 2024.
NAR Settlement
A settlement was reached in Moehrl v. National Association of Realtors in March 2024. ARMLS has opted-in to the settlement as the best path forward. In short: the spirit of the lawsuit is that buyer commission is not pre-defined before a relationship with the buyer. To fulfil the terms of the settlement, ARMLS has published new rules and practice changes. MLS participants and subscribers must make changes on or by August 1, 2024.