A Message from Your CAR Leadership on the NAR Settlement Agreement

Dear Members,

Your Colorado Association of REALTORS® (CAR) Leadership Council and Board of Directors have heard from many of you, our members, who have asked CAR to address the March 15th announcement by the National Association of REALTORS® (NAR) of an agreed settlement with the class action plaintiffs.

The NAR settlement represents a very significant development for REALTORS® throughout the country. If approved by the courts, the settlement will bring to conclusion just over five years of apprehension and uncertainty since the original lawsuit was filed in March of 2019.

As agreed, the settlement would shield NAR, state/local associations, multiple listing services (MLS), and the vast majority of brokerage firms from future liability for previous, alleged anti-trust behavior. The end to the on-going uncertainty related to these pending lawsuits is certainly a good thing for all parties directly involved and all parties covered by the terms of the settlement. It will allow Colorado REALTORS® to return their focus of helping Colorado consumers and businesses buy, sell, and lease real estate.  It will also allow the Colorado Association of REALTORS® (CAR), local associations, and MLS to return their focus to supporting REALTORS®, their small businesses, and their brokerage firms. 

While the terms of the settlement will impact CAR and local associations throughout the state, no REALTOR® associations in Colorado were ever named in a lawsuit or even alleged to have violated federal law. This settlement was negotiated and agreed to by NAR. As such, CAR will be referring inquiries related to the settlement and its implications to NAR for the foreseeable future.  As appropriate, CAR will be providing Colorado REALTORS® with messaging and updates from NAR as they become available.

In terms of the proposed settlement’s impact on Colorado specific issues such as the implications of the MLS rules modifications on Colorado license law, Colorado Real Estate Commission approved forms, and Colorado Real Estate Commission Rules, CAR will be actively working to advocate for any changes that may be appropriate and necessary at both the Colorado legislature and the Colorado Real Estate Commission. In the immediate days since the settlement announcement, we are still working to digest the settlement’s implications on Colorado forms and license law.  Once that occurs, we will be working with the appropriate government agencies to advocate for appropriate changes. What is clear is buyers and sellers will continue to have many choices when deciding to buy or sell a home.

Of course, CAR will continue to adhere to its mission to empower Colorado REALTORS® as industry and community leaders with knowledge, ethics, professionalism, and continue advocating for Colorado’s real estate industry as the collective voice for housing and property rights. Colorado REALTORS® will continue doing what they always have: providing unmatched value to Colorado home buyers and sellers by using skill, care, and diligence to protect the interest of their clients.

As always, please feel free to reach out to us with any comments, questions, or concerns. We can easily be reached at [email protected].

With appreciation,

Jason Witt, 2024 CAR President
Tyrone Adams, CAR CEO