The National Association of REALTORS® (NAR) announced last Friday, March 15, that it has reached an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.
The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with a NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below.
There are different legal and factual circumstances between Canada’s litigation and the matter in the United States. As Canada’s ongoing litigation is still before the courts, the Canadian Real Estate Association is monitoring this situation closely.
More details can be found in the news update from NAR here.
Read CREA’s response here.
Updates from NAR
NAR's March 19 press release is available here.
NAR's March 21 press release is available here.
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