On November 19, 2020, the National Association of REALTORS® (NAR) announced a settlement agreement with the U.S. Department of Justice (DOJ) regarding a civil lawsuit, which was filed against NAR the same day, alleging certain anticompetitive business practices.
As part of the settlement agreement, NAR has agreed to modify certain rules and policies to improve transparency to consumers regarding cooperative compensation and limits on lockbox access to only NAR-affiliated real estate brokers.
The rule changes re-affirm that MLSs and brokerages, as always, must provide consumers all properties that fit their criteria regardless of compensation offered or the name of the listing brokerage. Click here to read more.