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Category: News
As of August 17, the “class notice” has likely begun reaching consumers. Real estate professionals should be prepared to respond to inquiries.
This notice is part of a court-approved process informing home sellers (who sold a home through an MLS in the U.S. during the eligible dates and paid a commission) about NAR’s proposed settlement of the Sitzer-Burnett case. Notices are being sent via mail and electronically, outlining the rights and options available to class members.
Consumers might have already received notices from other brokerage settlements, but this one specifically addresses NAR’s settlement.
It’s important to note that NAR does not manage the class notice process. If consumers have questions, direct them to the settlement website or the settlement administrator at 888-995-0207. NAR members should avoid providing further advice on the matter.
NAR has a new guide about what must be included in a buyer agreement and have updated the information about steering in questions 46-49 and listing agreements in questions 50-53 in their settlement FAQs.
The NAR Buyer’s Agent Toolkit has resources including social media posts, video concepts, and printed materials, to show your clients how much value and relevance you bring to the homebuying process.
REALTOR.COM is launching a national campaign to promote how agents help their clients before, during and after the homebuying process. More information and resources for your marketing activities are here.
NAR is correcting the record about the proposed settlement to resolve nationwide claims brought by home sellers.
C.A.R. has new information about how real estate practices may be changing in response to the proposed NAR class action lawsuits settlement.
NAR has announced that Fannie Mae and Freddie Mac confirmed that buyers whose agent is compensated by the seller can access financing through those institutions.
A special REALTOR® Magazine digital supplement dispels misinformation about the proposed settlement and helps explain the importance of a written buyer agreement.