Massive Agent Podcast

The Real estate industry has just changed FOREVER... and you should be HAPPY about it. This is a great thing for agents and consumers. On Friday, March 15, 2024, The National Association of Realtors® (NAR) has agreed to a landmark settlement in industry lawsuits, paying $418 million in damages and agreeing to sweeping changes in the U.S. commission structure. Legal counsel for the trade association agreed to the settlement terms early Friday morning.According to NAR’s own statement, today’s settlement, if approved by the federal court judge, would settle all legal claims against NAR, as well as “over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.” Along with paying $418 million in damages, NAR has agreed to put in place a new rule prohibiting offers of buyer broker compensation on the MLS.NAR has also agreed to a new rule that