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The END of Real Estate Agents | NAR to Pay $1.7 Billion Lawsuit
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In this episode of "To Live and Buy in Los Angeles" @benbelack and @zachgoldsmith24 deliver breaking news as the Sitzer/Burnett trial concludes with a game-changing verdict. The federal jury's swift decision awards plaintiffs nearly $1.8 billion in damages, a sum that could swell to a colossal $5.4 billion when paid by the National Association of Realtors, Keller Williams, and HomeServices of America. The jury's unanimous decision hinges on questions regarding a conspiracy's existence, its impact on commission fees, and the defendants' involvement. This pivotal case centers on seller's fee payments to buyer's realtors, regulated by the National Association of Realtors' clear cooperation rule, with far-reaching consequences already evident in stock market fluctuations. Stay tuned for the latest developments in this industry-shaking case, as it promises to reshape real estate practices.
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