By Ylice Golden|Published on 10/6/2023

NAR’s Civil Action Lawsuits Webinar

Highlights from the Webinar

Civil Lawsuits:

• NAR is still very confident that they will prevail as the facts are still on their side.
  • Sept. 8: Pre-trial conference
  • Oct. 13: Jury Selection
  • Oct. 16: Trial Begins
  • Nov. 6-10: Jury Verdict
  • December: Bond
  • 2024: Appeal
• Appeal is expected win or lose at trial and the case will not be settled for years to come.
• If NAR has to appeal, they will have to post a bond while they are appealing.
• If NAR loses, they feel buyers, especially minority buyers, would lose out the most. It will become more expensive to purchase a home, especially since right now they cannot roll the buyer agent compensation into their mortgage.
• Settlements are always an option, and if the right settlement comes along, NAR will look at it.
• NAR is sheltering state and local associations from copycat lawsuits.

Encourage Our Members To:

• Articulate their value proposition.
• Local and state associations should help our members with their value proposition.
  • Sites to use: www.realestatecommissionfacts.com, www.competition.realtor
    and point members to NAR’s 179 Ways Agents Who Are REALTORS Are Worth Every Penny of their Compensation.
  • Members need to have the conversation on why the seller should pay for the buyer agent’s compensation.
  • Buyers’agents should utilize buyer representation agreements.