The Realtor Settlement Just Got Worse for Realtors

The Real Estate Industry’s day of reckoning is here. After paying a big chunk of change to settle a boatload of antitrust settlements, the National Association of Realtors (NAR) has a new batch of trouble on the horizon.  

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Here’s Five Fast Facts About the Broker Commissions Settlement:

1. 🏠 Previously on Paycheckology - The NAR agreed to pay out a $418M settlement in March, completely shaking up how homes will be bought and sold.
2. 🏡 What’s Up Now? - The DOJ’s spider-sense started tingling and realized the NAR could still pull some other anti-competitive stunts. 
3. 👨‍⚖️ Wait, What? - The NAR said “Nope” and took the DOJ to Court. Earlier this month, a federal appeals court ruled the antitrust suit could be reopened.   
4. 🔦 What Happened? - The court says the government hadn’t made a commitment to refrain from opening a new investigation or reopening the older suit.
5. ⚖️ Berserk - Predictably, the NAR had a “crazy plane lady” level meltdown and said the government hadn’t honored its contract (aka “no takebacks”). Basically, the NAR thought it got off scot free and the DOJ called them on it.

🔥Bottom line: Is this a case of government overreach? The NAR seems to think so. But if the DOJ’s suspicions are true, the NAR could be in some big trouble. If another settlement comes out of this, potential home buyers could once again come out as winners.

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