As you probably know by now the National Association of REALTORs settled the Sitzer/Burnette Case last week for $418 million dollars. But the bigger cost may be the concessions that NAR made in order to settle including a new rule prohibiting the agent from listing a co-op fee on the MLS.
Today I discuss the settlement as well as the ramifications. Spoiler alert. It isn't pretty.
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Gary
* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.