The National Association of Realtors DOESN’t want the story to grow by asking us to:

• …….be very cautious on social media and your interactions with other local media outlets. It is important that your actions do not contribute to making this story grow. ………
• The complaint is baseless and contains an abundance of false claims.

And that is the reason why the NAR settled for $418,000,000 and didn’t appeal the verdict. Why no appeal if it was just a baseless story and an abundance of false claims.

National Association of Realtors (NAR) | Do not make this story grow – Really?

You may have heard that on March 6th, 2019, a class action lawsuit was filed against NAR and several large brokerages.  While we, nor our members are named, it is a case that could have far reaching consequences.  The suit alleges that cooperation and compensation, the fundamental purpose of the MLS, is an anti-trust violation that results in consumer harm.  The suit seeks an injunction against forcing home sellers to pay the commissions of the buyer agent.

A statement from Katie Johnson, NAR General Counsel & Chief Member Experience Officer

We want you to know that yesterday, a class action lawsuit was filed in the Northern District of Illinois against the National Association of REALTORS® and four large brokerage companies alleging that the defendants conspired to restrain price competition among buyer brokers via promulgation of NAR’s MLS rules. The complaint is baseless and has no merit.  We are currently conferring with outside counsel on strategy and we will keep you abreast of developments.

When asked by the media for a comment, NAR is sharing the following official statement:

The complaint is baseless and contains an abundance of false claims. The U.S. Courts have routinely found that Multiple Listing Services are pro-competitive and benefit consumers by creating great efficiencies in the home-buying and selling process. NAR looks forward to obtaining a similar precedent regarding this filing.  Mantill Williams, VP of Communications, National Association of REALTORS®

If you receive any inquiry about this filing, please feel free to direct them to Mantill Williams ([email protected]) or provide the official NAR response above. If you come across chatter and discussion about the filing, be very cautious on social media and your interactions with other local media outlets.  

“It is important that your actions do not contribute to making this story grow.”

Katie Johnson
General Counsel & Chief Member Experience Officer | Legal Affairs & Member Experience

Source: https://berkshirerealtors.net/nars-response-to-class-action-lawsuit/
POSTED BY SANDY CARROLL, CEO ON MARCH 11, 2019 IN RE BUSINESS NEWS