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NAR runs out of liability insurance coverage: Sources

Housing Wire

Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. NAR’s insurance policy is tapped out, and there are no funds available for REALTOR Associations and MLSs for legal defense costs,” Hahn wrote.

Insurance 543
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Amid legal uncertainty, MLSs explore cooperative compensation workarounds

Housing Wire

Though these policies have been put in place to avoid future antitrust lawsuits, legal experts who spoke to HousingWire said they might not be enough. The National Association of Realtors also began allowing this under its Clear Cooperation policy in early October 2023.) Let’s break down the changes and the implications.

Legal 359
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Moehrl commission lawsuit trial not expected until end of 2024

Housing Wire

District Court in Chicago indicated this past spring that the trial in the Moehrl commission lawsuit would take place during the first half of 2024. During the hearing, Wood stated that she would be able to “try the case likely in the fourth quarter of 2024.” Ray’s point that this case should stand on its own.”

Legal 391
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Homebuilders are primed for an even better 2024

Housing Wire

. “The new home market has been extraordinary in 2023, and I think heading into 2024, we’re going to have the golden age of new home construction,” David O’Reilly, CEO of Howard Hughes , said in a recent CNBC interview. Let’s look at the new construction forecast for 2024.

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Game of chicken: Private MLSs stare down DOJ over settlement terms

Housing Wire

The privately owned multiple listing service has taken a laissez faire approach since its launch in 2009, as it promises no fees and fewer rules than MLSs owned by Realtor associations. You have to follow the law, but if it’s legal, you can do it,” Pfaff said. “We We will always comply with the law.”

Legal 438
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NAR settlement terms slated to go into effect in mid-August

Housing Wire

The business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement ,will go into effect on Aug. 17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. Per the preliminary settlement approval process, Aug.

Sellers 441
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Injunction in Sitzer/Burnett commission lawsuit not expected until spring 2024

Housing Wire

26, 2024, to file oppositions to the defendants’ motions and then the defendants have until March 18, 2024, to file their responses. In other words, the real estate industry may be waiting until April or even May of 2024 to find out what the injunctive relief in this commission lawsuit will be.