The National Association of REALTORS® (NAR) announced today that it has reached a settlement agreement in Tuccori et al. v. At World Properties et al., a class-action antitrust lawsuit related to buyer-agent commissions. While details are still emerging, this represents another significant development in the evolving legal landscape facing our industry.
At a high level, the settlement is designed to reduce legal exposure for NAR, its members, and affiliated organizations. According to initial reporting, the agreement provides for payment of $52.5 million into a settlement fund over multiple years. Importantly, the Tuccori settlement does not require additional practice changes beyond those already implemented as part of the Sitzer/Burnett settlement.
The Tuccori settlement is intended to release claims not only against NAR and REALTOR® members, but also against state and local associations, MLSs, and brokerages that meet certain criteria. The exact criteria for coverage of brokerages has not been announced as of the time of this publication.
The full implications of the Tuccori settlement, including how it will be interpreted by courts, regulators, and others, are not yet fully known. As with prior developments, additional clarity will come as more details are released.
For members, the immediate takeaway is this: the Tuccori settlement reflects a proactive effort by NAR to address ongoing litigation risk and protect members without requiring additional practice changes. This follows a series of positive legal developments, including the dismissal of multiple antitrust cases over the past nine months. As more information about the Tuccori settlement is made available, it is important for our members to stay informed, maintain compliance with existing practice changes, and continue to focus on delivering value for clients.
We will continue to monitor developments closely and provide updates as more information becomes available. For more information about the Tuccori settlement, visit facts.realtor.
