Real Estate Commission Lawsuit against NAR (What you NEED to know!) - Summer 2023 Update
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12 ماه پیش
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How will the MLS PIN
How will the MLS PIN vs. Nosalek settlement impact upcoming the class-action commission lawsuits against the National Association of Realtors (NAR) with Burnett and Moehrl, respectively? What did consultancy group T3 Sixty say on July 11th to industry professionals? What do buyers, sellers and real estate agents need to know? I will give you the 35,000 foot overview!
00:00 Introduction
00:22 Background of Moehrl & Burnett
00:56 Plaintiffs' Claim against NAR
01:41 Nosalek vs MLS PIN
01:57 Settlement Announcement
02:15 T3 Sixty Letter
02:41 Two Legal Nuances
03:17 What Could This Mean?
04:00 Conclusion
Music courtesy of Steven Andolf - SoundCloud: KjSbH
Back in 2019, two major lawsuits were filed against the National Association of Realtors (NAR)--one in Illinois named Moehrl vs. NAR and one in Missouri named Sitzer (now Burnett) vs. NAR. Both lawsuits were granted class-action certification, and expanded to include brokerages such as RE/MAX, Keller Williams, HomeServices of America, Anywhere Real Estate (formerly Realogy), which includes brands such as Century 21, Sotheby's and Coldwell Banker.
Smaller lawsuits were subsequently filed, and a lawsuit out of Massachusetts named MLS PIN vs. Nosalek made big news on June 30th, 2023 announcing a preliminary settlement agreeing to drop the requirement for a seller to pay a buying agent's commission.
Consultancy firm T3 Sixty then penned an open letter to the industry on July 11th, 2023 telling the National Association of Realtors (NAR) and brokerages around the country to begin training Realtors to utilize a buyer-broker employment contract, and prepare for industry changes where seller-paid commissions may disappear.
https://www.t360.com/wp-content/uploa...
So what does this mean for buyers and buying agents? What does this mean for home sellers and listing agents?
Ted Bland
Realtor, Associate Broker
Libertas Real Estate, LLC
250 N Litchfield Rd - Suite 261
Goodyear, AZ 85338
http://www.TedBland.Realtor
(480) 612-1919
#TedBland #Realtor #LibertasRealEstate #Phoenix #Arizona #RealEstate
#NationalAssociationofRealtors #Moehrl #Burnett #Sitzer #Nosalek #MLSPIN #NAR #MLS #Lawsuit #Commission #Settlement #Anywhere #REMAX #Century21 #ColdwellBanker #ERA #KellerWilliams #HomeServices #BerkshireHathaway #NorthwestMLS #BrightMLS #Massachusetts #Washington #Maryland #Virginia #Delaware #Investing #RealEstateInvesting
00:00 Introduction
00:22 Background of Moehrl & Burnett
00:56 Plaintiffs' Claim against NAR
01:41 Nosalek vs MLS PIN
01:57 Settlement Announcement
02:15 T3 Sixty Letter
02:41 Two Legal Nuances
03:17 What Could This Mean?
04:00 Conclusion
Music courtesy of Steven Andolf - SoundCloud: KjSbH
Back in 2019, two major lawsuits were filed against the National Association of Realtors (NAR)--one in Illinois named Moehrl vs. NAR and one in Missouri named Sitzer (now Burnett) vs. NAR. Both lawsuits were granted class-action certification, and expanded to include brokerages such as RE/MAX, Keller Williams, HomeServices of America, Anywhere Real Estate (formerly Realogy), which includes brands such as Century 21, Sotheby's and Coldwell Banker.
Smaller lawsuits were subsequently filed, and a lawsuit out of Massachusetts named MLS PIN vs. Nosalek made big news on June 30th, 2023 announcing a preliminary settlement agreeing to drop the requirement for a seller to pay a buying agent's commission.
Consultancy firm T3 Sixty then penned an open letter to the industry on July 11th, 2023 telling the National Association of Realtors (NAR) and brokerages around the country to begin training Realtors to utilize a buyer-broker employment contract, and prepare for industry changes where seller-paid commissions may disappear.
https://www.t360.com/wp-content/uploa...
So what does this mean for buyers and buying agents? What does this mean for home sellers and listing agents?
Ted Bland
Realtor, Associate Broker
Libertas Real Estate, LLC
250 N Litchfield Rd - Suite 261
Goodyear, AZ 85338
http://www.TedBland.Realtor
(480) 612-1919
#TedBland #Realtor #LibertasRealEstate #Phoenix #Arizona #RealEstate
#NationalAssociationofRealtors #Moehrl #Burnett #Sitzer #Nosalek #MLSPIN #NAR #MLS #Lawsuit #Commission #Settlement #Anywhere #REMAX #Century21 #ColdwellBanker #ERA #KellerWilliams #HomeServices #BerkshireHathaway #NorthwestMLS #BrightMLS #Massachusetts #Washington #Maryland #Virginia #Delaware #Investing #RealEstateInvesting
12 ماه پیش
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