From NMP article dated 3/15/2024:
Home sellers have the whole world in their hands, the ball in their court, and the power to compensate their real estate agents - or not - after the National Association of Realtors (NAR) agreed to a $418 million settlement Friday.
The settlement was not an admission of wrongdoing on part of the NAR and its affiliates and it makes that inherently clear. "This agreement is the best outcome we could achieve in the circumstances," Interim CEO Nykia Wright said. "It provides a path forward for our industry, which makes up nearly one-fifth of the American economy, and NAR."
This action puts power back into the hands of consumers, and releases brokers tied to the litigation from its grip.
Happy Friday, all.
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