Yesterday, Judge Stephen R. Bough of the U.S. District Court for the Western District of Missouri granted final approval of the NAR settlement agreement in the Sitzer/Burnett case following a Hearing in Kansas City. After considering arguments from all proponents and objectors, as well as the U.S. Department of Justice, the Court ruled in favor of the settlement.
This landmark decision secures a release of liability for over 1.4 million REALTOR®, state and local associations, REALTOR® MLSs, and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or less, while preserving critical consumer options and emphasizing transparency, competition, and choice in real estate transactions. It also requires adherence to the mandatory practice changes implemented on August 17, 2023.
The Greater Metropolitan Association of REALTORS® views this final approval as a pivotal moment for our industry, enabling REALTORS® to move forward confidently and continue delivering exceptional service. As we adapt to this new landscape, GMAR remains committed to supporting our members, promoting professional standards, and demonstrating the value REALTORS® bring to the communities we serve.