Industry Relations

Burnett v. NAR: The Lawsuit That Could Upend the Housing Market

Oct 18, 2023

A high-stakes trial in the real estate industry called Burnett v. NAR is discussed. The potential disruption for home sales, the application of the 'per se' standard, and the challenges faced by the Burnett are explored. The pivotal role of the Multiple Listing Service (MLS) is also analyzed.

58:57

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Quick takeaways

The outcome of the Burnett v. NAR trial could have significant implications for the future of the housing market and consumer experience.

The court may rule per se if an agreement to fix prices is found among defendants, but NAR can still argue that sellers, not buyers, pay the commission.

The trial's outcome is uncertain, and the emotional impact on the jury will play a crucial role in determining the verdict.

Deep dives

The possibility of settlements by KW and Home Services

There is a likelihood of settlements by Keller Williams and Home Services, given the generous settlement made by RE/MAX and the expected outcome of the trial.

Introduction

2min

Overview of the Trial and Jury Selection

29min

Impact of Commissions Leaving the MLS and FTC's Potential Action

2min

Settlement Class and Implications

12min

The Current System of Seller Paying Buyer's Agent

7min

Understanding Appeal Bonds in a Lawsuit

5min

Opinions on the Lawsuit Settlement and Reassurance for Listeners

2min

What if we told you that a high-stakes trial in the real estate and technology industry is about to unfold, with potential implications for consumers and the future of the housing market? Today, Rob and Greg are joined by Ed Zorn, Vice President and General Counsel at CRMLS, and they dive into the details of the ongoing Burnett v. NAR trial, exploring the various legal aspects and arguments that could lead to a major disruption for home sales.

Join us as we discuss the application of the "per se" standard, the challenges faced by the Burnett, and the pivotal role of the Multiple Listing Service (MLS) in this episode of our podcast. Don’t miss this heated discussion as Rob and Greg once again do their best to save the real estate industry.

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