The National Association of REALTORS® announced a settlement in the Sitzer-Burnett lawsuit and “copycat” cases which are related to how REALTORS® work with their clients and how they are compensated.
The bottom line: Changes to the MLS Commission Rules are coming this summer that will impact how every REALTOR® works with buyers and sellers.
Once more information is available, Bay East will hold Town Hall meetings with legal and industry experts to help make sense of what this means to you. We will also share information on our website, www.bayeast.org, in our email newsletters on social media and through emails like this one. Please follow us on Twitter, Facebook, and Instagram for updates.
If you haven’t already read the NAR statement about the settlement, it’s available here.
Additionally, there are materials available for REALTORS® members about the settlement at facts.realtor. You will need your NAR login credentials to access these materials. NAR will also continue to update competition.realtor with the latest information.
Finally, we value your membership and are committed to helping you understand this settlement and continue succeeding as a real estate professional. Please contact me directly if you have any questions at triciat@bayeast.org
Tricia Thomas
Chief Executive Officer, Bay East Association of REALTORS®