NAR News for Your Clients
Sitzer/Burnett Class Action Lawsuit
Earlier this month, an appeals court rejected NAR’s class certification challenge in the Sitzer/Burnett Case, the lawsuit falsely alleging that sellers are damaged when their listing broker offers to compensate the buyer’s broker. The ruling implies that the case will move forward as a multibillion-dollar class-action lawsuit and is headed for trial in February 2023. The case is likely to gain some attention, making it possible that current and/or former clients may reach out to you with questions about the lawsuit.
To provide members with the resources needed to facilitate these discussions, NAR has created several websites, fact sheets, infographics, and more.
What you can do:
- Use Buyer Representation Agreements in order to formalize a working relationship with clients and detail what services consumers are entitled to and what the buyer agent expects from their client in return.
- Remind clients that commissions are negotiable at any point in the transaction.
- Use the facts sheets, FAQs, articles, infographics, and other resources on www.competition.realtor to educate consumers, policymakers, media, and other interested third parties about how local MLS broker marketplaces work, and how they promote equity, transparency, and market-driven pricing options working in the best interest of consumers.
- Help consumers understand the value REALTORS® bring to the transaction, and how REALTORS® serve as champions in their communities and as advocates for private property rights.
- Other Helpful Resources: