No. of Recommendations: 1
Here's a brief passage from a New York Times article on the case. Note that damages are subject to being tripled to over $5 billion. Jury deliberated less than 3 hours.
Under a N.A.R. rule, a home seller is required to pay commissions to the agent representing the buyer, which sellers claimed forced them to pay excessive fees to the agents. The home sellers said the brokerages collaborated with N.A.R. to enforce what is called the 'cooperative compensation rule.'
But under the verdict, the sellers would no longer be required to pay their buyers' agents, and agents would be free to set their own commission rates, which could be slashed in half or less. For example, a home seller with a $1 million home can now pay as much as $60,000 in agent commissions ' $30,000 to their agent and $30,000 to the buyers' agent.
https://www.nytimes.com/2023/10/31/realestate/nar-... 