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

July 6, 2024 seldone

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

Home Sellers Win $1.8 Billion After Jury Finds Conspiracy Among Realtors

April 18, 2024 seldone

A federal jury ruled on Tuesday that the powerful National Association of Realtors and several large brokerages had conspired to artificially inflate the commissions paid to real estate agents, a decision that could radically alter the home-buying process in the United States.

The realtors’ group and brokerages were ordered to pay damages of nearly $1.8 billion. The verdict allows the court to issue treble damages, which means they could swell to more than $5 billion.

It’s a decision that has the potential to rewrite the entire structure of the real estate industry in the United States, lowering the cost of