The landmark settlement in the Burnett (Sitzer) v. National Association of Realtors (NAR) class action lawsuit has officially received final approval from U.S. District Judge Stephen R. Bough on November 27, 2024. This settlement is set to impact millions of homeowners across the U.S., offering substantial financial restitution and mandating significant changes in real estate practices. The full details of the court’s order and settlement terms are provided in the document below.
Judge Bough emphasized the fairness of the settlement, noting that it provides “substantial benefits to the class” while ensuring equitable treatment of all members. Over 491,000 claims have been filed as of November 14, 2024, with claims open until May 2025. Below are the key highlights:
- Financial Compensation: Settlement class members who paid real estate commissions through any MLS-affiliated transaction are eligible for compensation.
- Industry Practice Reforms: Changes include greater transparency in commission structures and improved practices across participating brokerages.
- Comprehensive Notice Program: Nearly 40 million notices were sent, ensuring a broad reach, with over 300 million digital impressions.
- Minimal Objections: Despite the large class size, only 39 members opted out, and objections were minimal.
Judge Bough described the settlement as “a significant and swift recovery for the Class,” underscoring its importance in resolving complex antitrust claims while avoiding protracted litigation.
For those in St. Louis, this settlement underscores the value of informed real estate practices. At MORE, REALTORS®, we are committed to transparency and exceptional service, ensuring buyers and sellers have the support they need in an ever-evolving market.
Learn more about the settlement and its implications by reviewing the full order below.
Burnett vs The National Association of REALTORS Settlement Order
(click below to read entire order)
