Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
What a year 2024 has been.
In rounding up the top stories of 2024, it was unsurprising to find that the articles all have something to do with the National Association of Realtors, its settlement, other commission suits or new rules resulting from them.
TAKE THE INMAN INTEL INDEX SURVEY FOR DECEMBER
Without further ado, here are the biggest news stories of 2024, as chosen by Inman readers in real-time.
1. NAR breaks silence on DOJ call to decouple commissions
By Andrea Brambila, Feb. 23, 2024
Consumer watchdog CFA hails federal agency’s proposal to ban sellers from making compensation offers as a “major watershed” in promoting more competition in real estate.
2. NAR President Tracy Kasper resigns, alleges blackmail
By Andrea Brambila, Jan. 8, 2024
The National Association of Realtors’ leader said she recently received a “threat to disclose a past personal, non-financial matter unless she compromised her position at NAR.”
3. NAR agrees to sweeping changes in $418M commission settlement
By Taylor Anderson, Mar. 15, 2024
NAR interim CEO Nykia Wright, left, and President Kevin Sears, right.
NAR would agree not to create rules that allow listing agents to set compensation for buyer brokers as part of the settlement. HomeServices of America not included in the deal.
4. NAR president: DOJ is a ‘bigger problem’ than $1.8B verdict
By Andrea Brambila, Feb. 07, 2024
Screenshot of Jack Gately showing video of Kevin Sears’ appearance at Crush It in Real Estate in Boston on Feb. 1, 2024
In remarks made in Boston that were later posted online, new NAR President Kevin Sears declared business will change for Realtors — whether they embrace it or have it “forced down our throats.”
5. Keller Williams settles Sitzer, Moehrl commission suits for $70M
By Andrea Brambila, Feb. 01, 2024
Under the proposed deal, Keller Williams must inform franchisees that offers of compensation are not required. It also agreed to revise training materials and end rules requiring agents to join NAR.
6. Buyer-broker agreement may limit how brokers compete, DOJ warns
By Taylor Anderson, Nov. 25, 2024
Getty Images
Ahead of a final Nov. 26 approval hearing on NAR’s proposed class-action settlement, DOJ lawyers narrowed in on a provision requiring written agreements between buyers and agents before tours.
7. DOJ can reopen its investigation into NAR, appeals court rules
By Taylor Anderson, Apr. 5, 2024
NAR interim CEO Nykia Wright, left, and President Kevin Sears, right.
In another loss for the National Association of Realtors, the court ruled the U.S. Department of Justice can reopen its investigation into rules around commission sharing.
8. NAR clarifies when a buyer contract will be required under settlement
By Andrea Brambila, May 1, 2024
Westend61 | Getty Images
In an email, the 1.5 million member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements’ terms.
9. Buyers seek surprise injunction to halt commission suit settlements
By Andrea Brambila, May 8, 2024
Photo by Erwan Hesry on Unsplash
The plaintiffs in a suit known as Batton 1 have filed for a temporary restraining order preventing the final approval of the Keller Williams, Anywhere and RE/MAX settlements.
10. DOJ sends signal to industry in latest commission comments
By Taylor Anderson, May 22, 2024
U.S. Attorney General Merrick Garland speaks at an Election Threats Task Force meeting at the Justice Department on May 13, 2024 in Washington, DC. Garland, who launched the task force three years ago after a steep increase in violent threats to election workers, says, “If you threaten to harm or kill an election worker, volunteer or official, the Justice Department will find you and we will hold you accountable.” (Photo by Andrew Harnik/Getty Images)
Statements made by a DOJ attorney during a May 21 status hearing in the Nosalek commission case offer new insights into the Justice Department’s impression of the proposed NAR settlement.
11. Barbara Corcoran on the $418M NAR settlement: It’s ‘not a big deal’
By Lillian Dickerson, Mar. 29, 2024
Credit: Ultima_Gaina and John Lamparski / Contributor on Getty Images
Corcoran told Yahoo! Finance she doesn’t believe the effects of the settlement will be as earth-shattering as many make them out to be, but that “the confusion it’s causing is amazing.”
12. Michael Ketchmark: Every move you make, we’ll be watching you
By Andrea Brambila, Aug. 19, 2024
In a phone interview, lead plaintiffs’ counsel Michael Ketchmark weighed in on the consequences of violating the NAR settlement, Zillow’s business model, and the “monster case” that remains.
13. Who’s out: The brokerages not covered in the NAR settlement
By Andrea Brambila, Mar, 20, 2024
More than 90 brokerages would not be covered under the $418 million deal, though most have the option of buying in.
14. WATCH: Ed Zorn, NextHome CEO on the $418M NAR settlement
By Inman, Mar. 15, 2024
James Dwiggins, Strategic Officer Keith Robinson and Ed Zorn, the California Regional MLS general counsel, tackled NAR’s settlement in an exclusive livestream Friday. Watch it on demand.
15. EXp not ‘doing broker-to-broker compensation’ — with caveats
By Jim Dalrymple II, July 24, 2024
A much-discussed listing agreement update reflects upcoming NAR rules, but it doesn’t bar sellers from offering compensation to buyers’ agents.
16. Court weighs $4.7B Sitzer ruling against last holdout HomeServices
By Andrea Brambila, Mar. 19, 2024
Sitzer | Burnett plaintiffs asked the court to order the Berkshire Hathaway affiliate to pay most of the nearly $5.4 billion damages award after NAR, Keller Williams, Anywhere and RE/MAX settle.
17. Homie sues NAR and others, alleging boycott and conspiracy
By Jim Dalrymple II, Aug. 22, 2024
Homie
The suit accuses NAR and major franchisors of breaking antitrust laws. The company’s complaint includes alleged text messages in which agents refused to show Homie listings.
18. Michigan agents and brokers sue NAR due to antitrust settlement
By Andrea Brambila, Aug. 12, 2024
The plaintiffs protest “compulsory” Realtor membership to access the MLS after the removal of “the guaranteed broker commission” from the MLS.
19. Consumer watchdog advises buyers to pay agents ‘2% or less’
By Andrea Brambila, Aug. 06, 2024
Africa Studio / Shutterstock.com
The Consumer Federation of America also tells consumers not to agree to pay an agent just to see a home, but to sign a touring agreement with no financial obligation instead.
20. NAR settlement may disrupt mortgage partner agent programs
By Matt Carter, Mar. 18, 2024
If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents?
21. Umansky says industry is in ‘trouble’ as he debuts NAR rival
By Jim Dalrymple II, Jan. 24, 2024
Mauricio Umansky at Inman Connect New York
The founder of The Agency is part of a team launching the American Real Estate Association as NAR continues to face criticism and legal trouble.
22. Consumer group behind Moehrl flags commission workarounds
By Andrea Brambila, Aug. 21, 2024
Doug Miller of Consumer Advocates in American Real Estate, the initiator behind the first bombshell antitrust lawsuit, sounds alarm against Realtor talking points that “continue steering.”
23. Proposed DOJ ban on commission offers against the law, MLS says
By Andrea Brambila, June 12, 2024
Credit: Tingey Injury Law Firm _Unsplash
MLS PIN on Monday urged a district court to reject the Department of Justice’s arguments against a settlement with homeseller plaintiffs in the Nosalek antitrust commission case.
24. Meet the companies offering commission-sharing workarounds
By Jim Dalrymple II, June 25, 2024
NAR’s landmark settlement bars sellers’ agents from offering commissions to buyers’ agents in the MLS. A batch of new companies are stepping in to fill the void.
