November 1, 2023
In a significant ruling from Kansas City, the National Association of Realtors (NAR), HomeServices of America, and Keller Williams have been found liable by a jury for allegedly colluding to maintain or inflate high commission rates, specifically through NAR’s Clear Cooperation Rule and Mandatory Participation Rule. In sum, it appears that the jury determined that the rule requiring MLS listings to offer compensation to the buyer’s broker renders the traditional long-standing business practice unlawful. This verdict emerged from the Sitzer/Burnett buyer broker commission lawsuit after only two hours of jury deliberation.
Stay tuned for more updates on this significant ruling.
This update is based on the article “Missouri jury finds Realtors, brokerages guilty of conspiring to inflate commissions,” originally written by Brooklee Han, Sarah Wheeler, and James Kleinmann, and published by Housingwire on October 31, 2023. The original article can be read here [https://www.housingwire.com/articles/missouri-jury-finds-nar-brokerages-guilty-of-conspiring-to-inflate-commissions/]. This summary has been adapted to fit our newsletter format.
View the detailed source article here.
March 15, 2024
The New Department of Labor Rule: Impact on Real Estate Independent Contractors ExplainedExplore the significant changes introduced by the Department of Labor's new rules on independent contractor status and their impact on the real estate industry.
January 25, 2024
2024 California Real Estate Law Update: What REALTORS® Need to KnowExplore the latest 2024 updates in California real estate law with Tyler Law, LLP. Our comprehensive guide covers everything from ADU regulations, landlord/tenant law changes, to new rules for property flippers and vacation rentals. Stay ahead in the real estate industry with our expert insights and analysis.
December 4, 2023
Beyond the Sale: How REALTORS® Create Exceptional Value for ClientsDiscover key strategies for realtors in our November 2023 article, 'Value Proposition'. Learn about Local Market Expertise, Negotiation Skills, and the importance of a Professional Network. Uncover how realtor associations enhance Advocacy and Education. Essential reading for agents and brokers committed to excelling in the dynamic real estate industry.