What Will Be the Effect of the NAR Lawsuit on the Real Estate Industry?

Commentary Whether pertaining to real estate agents or to sellers and buyers of homes and other real property, the future impact of the recent National Association of Realtors (NAR) lawsuit settlement is still unclear. Even though some industry pundits can’t help themselves but to make predictions, there are currently too many unanswered questions and unaddressed practical matters to accurately predict how things will ultimately end up in the real estate marketplace. Indeed, the court decision (which led to the settlement) may yet be overturned. Unlike the NAR and certain other defendants which settled with the plaintiffs, some defendants did not settle and are continuing to appeal the court decision. Consequently, while it is expected the fundamental structure of the NAR settlement will become effective by July, it may be some time thereafter before it’s clear what practical day-to-day changes, if any, will occur....