What comes next after verdict in burnett v. nar?
After an 11-day trial in the case of Burnett v. NAR et al, and only 2.5 hours of deliberation, the eight-person jury found the National Association of REALTORS® and other corporate defendants liable in the case with a recommendation that the defendants must pay $1.78 billion in damages.
The judge in the trial has the option to award triple damages, in his final ruling, which is expected in several weeks.
In court, NAR presented evidence that consumers are better off and business competition is able to thrive because of its rules and how well local MLS broker marketplaces function. In fact, the NAR cooperative compensation rule for local MLS broker marketplaces ensures efficient, transparent and equitable marketplaces where sellers can sell their home for more and have their home seen by more buyers while buyers have more choices of homes and can afford representation. NAR also presented that REALTORS® are everyday working Americans who are experts at helping consumers navigate the complexities of home purchases and advocates for fair housing and wealth building for all.
NAR has stated that it plans to appeal the verdict.
Lead attorneys for the plaintiffs in the Sitzer/Burnett trial have since filed a sweeping, nationwide lawsuit against NAR and seven additional brokerage companies, which include Compass, eXp, Redfin, Howard Hanna Real Estate, United Real Estate, Douglas Elliman and Weichert Realtors.
NAR is reviewing the new filings and believes that they are essentially copycat lawsuits.
TPCAR members may find themselves in the position of having to answer questions from clients about the lawsuit. Members are encourage to refer directly to NAR's talking points developed for these conversations, and to not speculate if you're asked a question that you can't answer.