Important Notice: New Settlement Class Notices Sent to Consumers - Don't Miss Out!

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Here are the key highlights and updates on the National Association of Realtors’ landmark antitrust settlement:

The commission settlement information will be disseminated through various channels such as websites, emails, and postcards. This includes notifications to homesellers interested in claiming a portion of the settlement fund by May.
The settlement, announced in March, emerged from homeseller lawsuits alleging antitrust violations by NAR and major real estate firms. It led to significant changes in rules regarding agent commissions and a collective settlement of over $980 million.
Consumers are now receiving class notifications to inform them about their eligibility to claim a share of the settlement. These notifications, initiated on August 17, coincide with the implementation of NAR’s new regulations.
Detailed guidelines on the notification process have been laid out, including a dedicated website providing claim submission instructions and related settlements from various industry entities like Anywhere and Keller Williams.
Consumers eligible to claim must have sold their homes through multiple listing services within specific timelines. Claims must be submitted by May 9, 2025.
In addition to the website, email and postcard notifications are being employed to notify consumers of the settlement terms.
The impending final approval hearing on November 26 awaits NAR’s settlement, following its preliminary approval in April.
Real estate professionals are racing to embrace and understand the implications of the new regulations that have come into effect.

As the industry gears up for transformation, make sure you are well-informed and prepared to navigate these changes. Stay updated and take the necessary steps to adapt to the evolving real estate landscape.