Home Buyers Need to Be Aware of the Implications and Misinformation Regarding the Recent Settlement

Hello. I’m Lora Cusumano, president of the National Association of Exclusive Buyer Agents.

On March 15th, the National Association of Realtors, or NAR, announced a nationwide settlement in the Sitzer and Merle Anti-trust lawsuits. This settlement, according to NAR, will release most Realtors from liability associated with the lawsuits. While this is good news, there are impacts we don’t fully understand yet.

As a broker owner of a small exclusive buyer agency firm, I, like you as the home buyer, need to know what this means for my business. NAR will be required to develop various policies and rules to comply with the settlement.

But let’s not get swayed by all the media reports and pundits that might not be accurate. They sometimes present opinions as facts, like claiming there’s a “standard” commission rate in real estate, which isn’t true. The real estate industry is evolving, but one thing remains constant: buyers deserve dedicated representation.

Here’s what we know so far: The settlement is pending court approval, which could take several months, and NAR will need to develop various policies and rules to comply. We can’t fully understand the impact until we have more information about the specifics of the settlement and the yet-to-be-developed NAR rules and policies. Additionally, every state’s laws are unique, so aspects of the settlement may vary.

Our NAEBA members, Exclusive Buyer Agents, are problem solvers and deeply committed to being advocates for homebuyers. NAEBA.org and its members educate consumers about how compensation is negotiable, our value as your fiduciary, and professionalism as a service, not just salespeople.

Since 1995, NAEBA has always been transparent, not just in times of uncertainty. Our mission is to promote true exclusive buyer agency through education and advocacy, protecting real estate consumers from unethical and damaging practices while adhering to the highest level of professional standards in the industry.

We will overcome any challenges that may lie ahead and be the preeminent trade association championing exclusive buyer agency, consumer protection, and be the trusted leader in the real estate industry.

As always, NAEBA.org is committed to keeping you informed and will continue to update you with the latest developments. Thank you.