eXp Realty, a subsidiary of eXp World Holdings Inc. (NASDAQ: EXPI), announced a $34 million settlement in the Hooper vs. the National Association of Realtors case.
The settlement is the latest among the major brokerages who were sued over their business practices related to commissions. According to the settlement, half of the sum will be paid within 30 days of a court’s preliminary agreement and the rest will be paid out in 2025.
eXp was not among the brokerages involved in NAR’s settlement of the Sitzer/Burnett case.
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it’s hard to imagine this much money is being paid out. how did this ever happen…. if these brokerages have this much money laying around how come more didn’t go to the agents. I’m ready to retire from the real estate industry. seems to be a dying industry just like the travel agency business was.
I can’t believe it would cost $34 million to fight in court an unjust, unfair “settlement”, that the members never got to discuss, or vote upon with the NAR! It hurts Buyers, it hurts the profession. Everything has always been negotiable, and it’s absolutely terrible. I don’t know what association from unions to doctors that you don’t get to vote on something that affects your entire profession and yet they went ahead and gave away the farm. Very disappointing, and absolutely disgusting organization.
Raising Money to help support the immigrants and destruction of the USA.
Realator for 40 years in Oregon – this settlement was the worst -realtors price fixing? The most cutthroat industry in the United States no way on a monopoly or price fixing this verdict was worse than Judge Ansel Haggerty‘s ruling in the Louisiana Pacific case where the homeowners all got really worked over in Oregon
100% AGREE GARY lARSEN
I sure would like to be enlightened by many agents…what benefit do they receive from NAR?
You guys are such idiots for doing this. Thanks for throwing us all under the bus.
This has hurt so many realtors! I pay $600+ per year to belong to the National Realtors Association to show that I am “Honest” and I have many real estate agents in my area that do not belong to the NAR and they have less trouble than we do as NAR members..Wish something else would come long for us so we do not need to belong to the NAR..
TRAITORS, SPINELESS THIEVES!!
TERRIBLE representation for realtors! Thanks for NOTHING!
With all your bullshit conventions and bullshit magazines and you sell us out with the Amature
Law suit Settlements and the ridiculous Buyer document crap!
Bunch of PUSSYS!!!!