With Court Settlement, Look to an Attorney for Buyers Representation

Several months ago, we wrote about the potential impact of the lawsuit against the National Association of REALTORS. At that time, the federal court in Missouri ruled the organization and most real estate brokerages violated the Sherman Anti-trust Act.

At that time, we cautioned that a final ruling was still a long way from concluding with appeals and other court mechanisms.

However, as has been widely reported, the case was settled last week with national implications for the real estate industry. As attorneys, we’re looking to see the full settlement case to fully understand all the implications as a result.

We’re also cautioning our clients that the settlement has not been approved by the courts and still could change. That won’t take place until May.

But one thing seems clear, the way home buyers will utilize agents for representation will change as the costs of their services have shifted from the proceeds of the sale to the buyer themselves.

While having a personal agent work with you on finding your dream home can be very beneficial, with this ruling, utilizing the services of a proven residential real estate attorney can be a way to offset the costs of buying a home.

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