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2 clusters · 2 sources · 15 days · First seen · Last updated
US real estate commission settlement litigation
Overview
The U.S. Court of Appeals for the Eighth Circuit has upheld major settlements regarding real estate commission disputes. Initially, the court affirmed a nationwide settlement involving the National Association of Realtors (NAR), rejecting claims from objectors that the agreement was procedurally defective or unfair. This settlement fundamentally changes real estate practices by uncoupling buyer broker compensation from Multiple Listing Service (MLS) listings and requiring buyers to enter written representation agreements before property showings.
Following this, the court upheld additional settlements in the Gibson commission lawsuit involving various brokerages, including Compass, Redfin, and HomeServices of America. These rulings mirror the NAR decision and involve similar business practice changes. The judicial confirmation of these settlements, including those involving Berkshire Hathaway subsidiary HomeServices of America, aims to resolve long-standing antitrust litigation and reduce legal uncertainty within the industry.
Entities
National Association of Realtors · Eighth Circuit Court of Appeals · HomeServices of America · Berkshire Hathaway
Timeline
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11 days ago
[BUSINESS] 2 sourcesEighth Circuit upholds real estate commission settlementsThe U.S. Eighth Circuit Court of Appeals has upheld real estate commission settlements involving the National Association of Realtors and several brokerages, including Berkshire Hathaway subsidiary HomeServices
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26 days ago
[BUSINESS] 2 sourcesEighth Circuit upholds NAR real estate commission settlementThe Eighth Circuit Court of Appeals has upheld the National Association of Realtors' nationwide settlement, affirming major changes to how real estate commissions and buyer representation are handled.
Sources
ad-hoc-news.de · reversemortgagedaily.com