NAR Lawsuit Settled! Offering Buyer Agent Commissions in the MLS now Illegal!!!

[James Wise]

The NAR settled all of their lawsuits for $418 million today. Lots of stuff to dig through in regards to all of it, but the biggest takeaway and change to the industry is that fact that buyer agent commission can no longer be offered through the MLS by the seller &/or listing agent.

My take; this is great. The real estate industry has long been plagued by 1,000's & 1,000's & 1,000's of low to no skill part time agents who do a handful of deals per year. I think this should wipe the majority of them out. Being a part time agent is no longer a viable "side hustle" because it requires a much higher level of skill to get listings than it does to tell your friends "work with me, it's free, sellers pay me"

I love it.

[Bruce Lynn]

Horrible day for consumers.

I will increase my commissions to sellers and encourage everyone left to do the same, to account for all the extra work we will now have to do.  It was an awesome system for buyers to be represented as they got stuck so many times in the past, when they thought the listing agent was working for them, but they were really working for the seller.

Transparency was awesome, but now will be a "hidden" part of the transaction.