On Tuesday, November 26, the U.S. District Court for the Western District of Missouri granted final approval of NAR’s settlement agreement in the Sitzer/Burnett case. The Court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the Court quickly ruled to grant final approval. We expect the Court to issue a formal written order in the near future, and we will share that filing with you once it is available.
NAR’s goal throughout this process was to protect as many NAR members and their businesses; state, local, and territorial associations of REALTORS®; and multiple listing services as possible while preserving choice for consumers in their approach to buying or selling a home. The principles of transparency, competition, and choice are core to the settlement agreement and empower real estate professionals and consumers to negotiate the services and compensation that work for them. Preserving this optionality, including whether to offer compensation, is important to NAR’s efforts to support first-time homebuyers and buyers from marginalized communities.
With this step behind us, NAR members must remain focused on implementing the practice changes and helping consumers navigate the new landscape. NAR and its membership must all continue to communicate and demonstrate the unique value of REALTORS® today and every day.
Thank you,
Kevin Sears
President
National Association of REALTORS®
