LRIP

U.S. Department of Justice suspends settlement; opens inquiry of realtors

July 2, 2021

WASHINGTON-On Thursday the US Department of Justice declared that the agreement with the National Association of Realtors had been withdrawn to facilitate a broader organizational investigation.

The department and NAR had reached an agreement in November that required the organization to either dump or transform rules in order to provide prospective home buyers with more information about commissions for brokers who viewed them and to eradicate any falsehood that the services were provided for free.

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The settlement would have limited the Justice Department’s ability to conduct additional investigations of the association. The action by the Justice Department was named as “complete, unprecedented breach of agreement” by NAR.

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