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Over the weekend, the U.S. Department of Justice (DOJ) filed a “Statement of Interest” related to NAR’s proposed settlement of claims regarding broker commissions. Based on their dialogue with the DOJ over the course of this year, NAR had expected this possibility.
In its statement, the DOJ raised concerns about the requirement that MLS Participants must enter a written buyer agreement when they are working with buyers prior to touring a home. A new California law requires buyers and their brokers to enter into written agreements, so the DOJ’s concerns should not have much impact in California.
The DOJ is not a party to the settlement agreement or a class member. The Court may consider the DOJ’s perspective alongside the other arguments made by objectors and will decide whether to grant final approval soon.
NAR will continue to advocate for final approval in the lead-up to and at the Nov. 26 hearing.
Nov. 25, 2024
