The National Association of Realtors got preliminary approval for its $418 million settlement with home sellers over commission rules for real estate agents, a major milestone toward finalizing the deal.
Judge Stephen R. Bough of the US District Court for the Western District of Missouri said in a Tuesday ruling that the proposed settlement was fair, reasonable, and adequate. A hearing on final approval is set for Nov. 26.
The ruling comes after five years of hard-fought litigation, with home sellers accusing the NAR and other industry players of conspiring to require sellers to pay the broker representing the buyer ...
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