The National Association of Realtors said on Friday it has resolved a slew of litigation accusing the trade group and brokerages of conspiring to keep real estate commissions artificially high nationwide. Under the settlement, the realtor group would pay $418 million over about four years. The accord also resolves claims against more than 1 million members, state and local realtor associations, and most smaller brokerages. Court approval is required. As part of the settlement, the realtor group also agreed starting in mid-July to prohibit offers of broker compensation on its Multiple Listing Service, and require … (full story)
