A U.S. judge in Missouri has approved a $208 million consumer antitrust settlement with Re/Max and two other leading real estate brokerages. The settlement is part of a broader series of changes in the real estate industry, influenced by the National Association of Realtors (NAR) and other major players. The Department of Justice's Statement of Interest, which follows a Boston confab 30 years ago, could potentially save homebuyers and sellers $100 million per month by eliminating co-broker bribes and steering practices. The NAR's settlement, which includes changes in broker compensation, means buyers cannot finance commissions. Judge Stephen R. Bough highlighted that the payouts and practice changes in the NAR's deal, as well as those in the Keller Williams, Anywhere, and RE/MAX settlements, represent substantial benefits for sellers. The board president of Arizona Realtors noted the implications of the settlement, warning that telling buyers to bring their own broker could result in a lower selling price.
Judge Stephen R. Bough said payouts and practice changes in NAR's deal, added to those in the Keller Williams, Anywhere and RE/MAX settlements, represent "substantial benefits" for sellers. https://t.co/DoyTIryfqv
The board president of Arizona Realtors offers her take on the implications of the National Association of Realtors' settlement related to a wave of lawsuits filed over broker commissions. https://t.co/AP7cbktPbn
Another important fact to know after NAR’s proposed settlement of the antitrust class action lawsuits brought on behalf of home sellers related to broker compensation: buyers cannot finance commissions. https://t.co/QcJrGZzvNG
#Intend2Sell & want to tell potential buyers to #BYOBroker? Beware agents who warn that decision "could be turn-off to buyers & result in a lower overall selling price" Underlines importance of #DOJStatementOfInterest in #MLSpinSettlement #DOJvsNAR goal: BAN #CoBrokerBribes https://t.co/LMALuYwxh9 https://t.co/GfQrsN1czw
After lawsuit, changes coming to real estate. But how big will they be? | Click on the image to read the full story https://t.co/1n6NN93mpB
30+ yrs after 2 day confab in Boston called Consumer Revolution in Real Estate, #DOJStatementOfInterest may open potential for homebuyers & sellers to save $100M/month If #DOJ has their way, #CoBrokerBribes go away as does steering Wanna #Save_10K? Watch https://t.co/qrNKzgIkMH https://t.co/g5NLb0sHO4
30+ yrs after 2 day confab in Boston called Consumer Revolution in Real Estate, #DOJStatementOfInterest may open potential for homebuyers & sellers to save 100M per month If #DOJ has their way, #CoBrokerBribes go away as does steering Wanna #Save_10K? DM https://t.co/qrNKzgIkMH https://t.co/g5NLb0sHO4
A U.S. judge in Missouri has approved $208M in consumer antitrust settlements with Re/Max and two other leading real estate brokerages @MikeScarcella https://t.co/qLAGFM6Nji https://t.co/PZuFfhi47W
How the NAR settlement impacts future homebuyers | Click on the image to read the full story https://t.co/o8iWwSwpal