In 2019, a class-action lawsuit (Moehrl v. NAR) was filed seeking compensation for damages related to "high" real estate commission fees. Other cases followed shortly (the major one being the Sitzer case, but also Burnett) and in October, 2023 the verdict came down against the National Association of Realtors and several of the largest real estate brokerages and franchises in the industry co-defendants (REALOGY HOLDINGS CORP., HOMESERVICES OF AMERICA, INC., RE/MAX HOLDINGS, INC., and KELLER WILLIAMS REALTY, INC.)
What does this mean for real estate agents, real estate brokers, buyers and sellers? Well, the dust hasn't settled and likely won't settle for another year or so, but in the meantime, considering upcoming Department of Justice involvement and imminent injunctions, there are certainly going to be short term changes to how the industry works. We are holding a seminar/workshop on 12/01/2023 at 10 Forbes Road, Unit 290E, Braintree, MA, hosted by Dovetail Mortgage. www.dovetail-mortgage.com Registration is through Eventbrite: https://www.eventbrite.com/e/759843701967?aff=oddtdtcreator
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November 2023
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