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Unacceptable NAR and Realtors’ settlements: Who’s affected?
If you are not satisfied with the NAR and Realtors’ settlements, you can opt out and fight for higher compensation. Fill out the form on this page to learn more.
When selling a house, the homeowner is usually expected to pay real estate commissions, which are often very pricey. To make matters worse, sellers are expected to pay the fees not just for their own agent, but also for the buyer’s agent. This practice has been found to create artificially inflated commission rates and violate antitrust laws.
To stop these practices, several class action lawsuits were filed against industry giants, such as the National Association of Realtors (NAR), large brokerage firms, and multiple listing services. In the NAR class action lawsuits, plaintiffs sought to address the antitrust issue and receive compensation for these extravagant commission payouts.
Recently, class action settlements were reached regarding this issue. However, the NAR and certain other Realtors’ settlements were insignificant compared to the damages done by these practices.
With the current NAR and Realtor fee settlements, class members can likely expect to receive a few hundred dollars, but that’s just a small fraction of the real estate commissions they paid. There is no reason for you to settle for a payout this low when your claim could be worth many times more.
The law firm of Zimmerman Reed is currently seeking to represent home sellers who want to opt out of the NAR and other Realtors’ settlements and pursue the maximum repayment.
Do you qualify?
Did you rely on a real estate agent to sell your home? Homeowners who sold property after November 1, 2020, may be eligible for more compensation than what the NAR and realtor fee settlements would provide.
Fill out the form on this page for more information.
Is it worth fighting for a higher realtor fee settlement?
The NAR and Realtors’ settlements were significantly lower than expected and are believed to be much lower than what could be achieved through continued litigation. The current Realtor fee settlement would likely put a few hundred dollars in claimants’ pockets. However, you could receive many times more — potentially more than half of the Realtor commission fees that you paid. This could be worth far more than the initial Realtor fee settlement.
Will my real estate agent be impacted?
No real estate agents or Realtors were directly sued as part of the initial NAR and Realtors’ class action lawsuits, and opting out of the Realtor fee settlement would not mean pursuing legal action against any individual agents. Instead, litigation has focused on several major industry organizations. These defendants include the National Association of Realtors, Berkshire Home Services, Coldwell Banker, and others.
It is alleged that these entities drove up housing prices and made home sellers pay the buyers’ fees. These companies are alleged to have caused harm, and the lawsuits aim to make them pay restitution and be held responsible for the full amount owed.
What do I have to do to opt out and pursue more compensation?
As a first step, fill out the form on this page. If you qualify, you will be contacted to discuss your specific situation further. Attorneys will help you through the process of rejecting the initial NAR and certain other Realtors’ settlements. Then, they will proceed with a new antitrust filing, which will demand an appropriate repayment.
Fill out the form on this page to see if you qualify for a free case evaluation.
See If You Qualify
Push for more compensation from the NAR settlement
By submitting your information, you agree to receive communications from Top Class Actions and to be contacted by an attorney or law firm or their agents to discuss the details of your potential case at no charge to you if you qualify.
After you fill out the form, an attorney(s) or their agent(s) may contact you to discuss your legal rights.
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