Missouri seller class action lawsuit:

Federal

Judge Bough granted that motion which means that as of today, the settlement agreement is preliminarily approved.Settlement class members are now enjoined from filling complaints or prosecuting any claims based on the type of conduct at issue in Sitzer-Burnett and the other settled Actions on behalf of home sellers related to broker commissions against NAR or other parties that are released under the settlement.

Two important reminders:

  • Individual NAR members and their brokerages with 2022 total transaction volume for residential home sales below $2 billion do not need to take any action to be covered by the settlement.
  • The following entities that choose to be covered by the settlement must execute the relevant affidavit by June 18, 2024:
    • REALTOR® MLSs – which are MLSs wholly owned by REALTOR® associations. (See Appendix B)

      Brokerages with 2022 total transaction volume for residential home sales in excess of $2 billion (see Appendix C)

      Non-REALTOR® MLSs – which are MLSs that are not wholly owned by REALTOR® associations (see Appendix D)

Please see the FAQs below for more information and contact Mike Rohde at mrohde@nar.realtor with any questions about completing an opt-in agreement.

The settlement is still subject to final court approval, and plaintiffs have requested a hearing on final approval of the settlement to be held on November 26, 2024. For a more comprehensive view of what’s ahead, please see an estimated timeline here.

The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

Posted by: Byron King on 04/26/24 (This information is only accurate as of 04/26/24. You must contact SCR for updates and changes to this information after 04/26/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)

This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.