Unintended Consequences: How the NAR Ruling Will Change Cooperative Compensation Practices
The $1.78 billion verdict in October against the National Association of REALTORS® has sent shockwaves across the residential real estate industry. The ruling in the case of Sitzer/Burnett v. The National Association of Realtors et al, including Compass Inc., EXP World Holdings Inc., Redfin Corp., Weichert Realtors, United Real Estate, Howard Hanna Real Estate Services, and Douglas Elliman Inc., claimed that the NARs “participation rule” and “cooperative compensation” practices forced home sellers to pay inflated commissions to buyer agents. Within hours of the verdict, the plaintiff attorneys in the case…
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