Natl. Association of Realtors settlement leaves KC realtors waiting for answers

KANSAS CITY, Mo. — The National Association of Realtors announced Friday the association would agree, if approved, to a settlement that would eliminate the 6% standard commission for agents.

In November, KSHB 41 reported on the class action lawsuit filed by attorney in Kansas City that involved 500,000 home sellers across Missouri, Kansas and Illinois.

The new settlement totals $418 million but awaits final approval by a judge.

When KSHB’s Abby Dodge called 10 realtors Monday afternoon, none agreed to discuss the settlement.

Some said they did not want to comment on pending litigation, while others wanted to see how

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NAR lawsuit: After a $1.8 billion verdict, the clock is ticking on the 6% real estate commission


Washington, DC
CNN

Using a travel agent to buy a plane ticket or a stockbroker to trade equities seems like relics of the past. And yet, every day, people across America hire a real estate agent to help them sell a home. It’s one of the few industries that has been able to largely avoid the disruption that has helped consumers cut costs in the Internet age.

And that is largely because of the power of the National Association of Realtors, the largest professional organization in America and a significant lobbying group for the real estate industry.

But the

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Home sellers win in NAR case – Deseret News

The National Association of Realtors and two brokerage firms were ordered to pay nearly $1.8 billion in damages to about a half a million home sellers after a federal jury found they had conspired to artificially inflate commissions paid to real estate agents.

The decision could radically alter the home buying process in the US and could potentially lead to a restructuring of the entire real estate industry, lowering the cost of moving homes by reducing commissions, The New York Times reported.

A Missouri jury Tuesday sided with the plaintiffs in the class-action lawsuit, awarding them a total of $1.78

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The hefty commissions home sellers pay to real estate agents may soon disappear

The long tradition of home sellers footing the commissions of their buyers’ real estate agents may soon be a thing of the past.

A recent multibillion-dollar class-action verdict in Missouri found that the National Association of Realtors (NAR) along with some of the largest real estate brokerage firms in the country violated antitrust laws by conspiring to inflate and keep sales commissions artificially high. The NAR and other brokerages face a slew of new and older lawsuits that have similar claims.

Already, the suits have ushered in some changes to agreements sellers sign with their real estate agents that set

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BC real estate agent fined $55K after sales misconduct

Gina Takhar voluntarily surrendered her license in August 2020 but BCFSA is pursuing cancellation of the license, plus a penalty.

After holding in her real estate license in 2020 amid a misconduct investigation, Gobinder Kaur (Gina) Takhar has now had it officially canceled following an agreement with the BC Financial Services Authority, which also includes a $55,000 fine.

Takhar was found to have committed professional misconduct by failing to disclose the nature of her representation to assignees seeking to purchase two properties in Chilliwack, in 2017.

Between 2010 and 2020, Takhar was licensed as a trading representative with Global Force

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Realtor sanctioned in Richmond deal sues for $1.5M damages

Vicky Wang should have appealed the decision with the Financial Services Tribunal rather than going to court, says BCFSA.

A realtor, who was fined $28,000 for misconduct, is pointing a finger at a lawyer in the case for her role in an “unjust and unfair conclusion” based on “weak and problematic evidence.”

Vicky Wang, a Vancouver realtor, filed a claim for $1.5 million in damages against BC Financial Services Authority’s (BCFSA) senior legal counsel Catherine Davies in BC Supreme Court in Vancouver last June.

Wang, who is self-represented, claimed in her lawsuit she was “bullied and discriminated against by the

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Florida Realtors’ Tech Helpline Adds Over 20,000 New Members in the Last 90 Days

Delivers tech support to five new organizations, now serving over 750,000 Realtors

ORLANDO, Fla., March 20, 2024 /PRNewswire/ — Tech Helpline, real estate’s No. 1 tech support service, reports a growth surge. In the last 90 days, Tech Helpline has added five more Realtor organizations with over 20,000 members, including the Kentucky REALTORS® and the Greater Philadelphia Association of REALTORS®.

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