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The National Association of Realtors (NAR) has agreed to a $52.25 million settlement in the Tuccoli v. At World Properties buy-side commission case, pending court approval. This settlement does not require any new changes in business practices beyond the $418 million settlement with Sitzer Home Sales in March 2024, and NAR maintains continued compliance. Payments will be made over multiple years, primarily beginning in June 2028, after Sitzer’s settlement payment is completed in February 2028.
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The group announced Friday that it has reached a broad agreement that protects its members and MLSs from buyer-initiated lawsuits. No new practice changes are required.
The National Association of Realtors has agreed to pay $52.25 million as part of a settlement agreement with a group of homebuyers targeting major players in the real estate industry.
The settlement agreement, which must be approved by the court, was reached as part of a lawsuit known as Tucoli v. At World Properties.
The settlement agreement does not require any further changes to business practices beyond those already agreed to as part of the $418 million settlement in March 2024. Barnett Home Seller Lawsuit. In exchange, NAR has agreed to continue to comply with these existing practice changes.
Settlement payments will be made over multiple years, with the majority of payments expected to be made after June 2028. That is after NAR makes its final payment in the Sitzer Settlement, which is scheduled for February 2028.
NAR said the proposed settlement is structured to cover a wide range of real estate professionals. among them:
NAR Member State and local real estate associations (including associations that operate or do not operate an MLS) Realtor-related MLS Non-real estate agents MLS Real estate brokers who have not yet reached a buy-side settlement agreement and are themselves NAR members
NAR CEO Nikia Wright said in a statement that the proposed settlement is in line with NAR’s three-year strategic plan, particularly in providing legal certainty to the real estate industry.
“It provides a broader level of protection and relief for the industry than previously available in previous NAR settlements, is the result of NAR’s new legal team’s diligent approach to addressing legal risks, and reinforces our commitment to providing greater value and stability so our members can stay focused on their customers and focus on their next transaction,” Wright said in a statement.
Douglas Elliman, who is named in a separate lawsuit filed by a Florida plaintiff named James Lutz, also alerted the court that he plans to agree to a settlement with Tuccoli, although the terms of the agreement were not immediately clear.
The master settlement agreement in the Tuccori lawsuit provided opt-in functionality for entities not named in the lawsuit. NAR is not named as a defendant in the lawsuit.
The trade group is also participating in another buy-side class action lawsuit filed in 2021 known as Baton v. NAR.
Plaintiffs in the Tuccoli and Baton lawsuits alleged that NAR, its members, and other named industry defendants conspired to inflate home prices through real estate commissions.
Keller Williams agreed to pay $20 million to settle the Baton lawsuit earlier this year. REMAX reached an $8.5 million settlement agreement two weeks ago.
NAR plans to ask the Baton court to suspend the case while it seeks final approval of the settlement in Tucoli.
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