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. While NAR is cooperating with the DOJ in reviewing its rules and policies, NAR continues to dispute the truth of the allegations by the DOJ. The settlement agreement in no way constitutes an admission of liability or wrongdoing.

Over the coming weeks, the DOJ and NAR will negotiate changes to rules and policies and obtain court approval of the settlement agreement. The policy and rule changes must also be approved by the NAR Board of Directors before they take effect. NVAR will continue to monitor any changes to the rules and will promptly inform members of any updates.

The settlement agreement has no bearing on the pending antitrust litigation NAR is defending against private parties. The DOJ complaint and settlement agreement focus on clarifying and enhancing transparency to consumers regarding compensation and access to properties, while the plaintiffs in the other civil suits seek to end the practice of cooperative compensation. NAR remains focused on supporting our members as they preserve, protect and advance the American dream of homeownership.

For more information, please see NAR’s website for a list of frequently asked questions related to this development: Click Here.