If you’re looking for a close look at the National Association of Realtors’ lawsuit and its implications for real estate, you’ve come to the right place. In this article, you’ll learn what the NAR Lawsuit entails and the steps NAR is taking to block the Justice Department’s request to withdraw consent to the proposed settlement.

NAR’s Code of Ethics & Standard of Practice

The National Association of Realtors (NAR) Code of Ethics and Standard of Practice is a detailed ethical framework that governs dealings between Realtors and clients. It is based on the principle of “let the public be served.”

The NAR(r) Code of Ethics is a set of seventeen articles that outline the professional responsibilities of REALTORS(r). Real estate is one of the only industries with disciplinary procedures.

When a complaint is filed against a real estate agent, the local association passes it on to the Professional Standards Committee. If the violation is serious, NAR can suspend the license.

The NAR Board of Directors approved changes to the Code of Ethics and its Professional Standards rules. These changes were made effective immediately.

The new Standards of Practice under Article 10 include prohibitions against discrimination against protected classes. This includes gender, race, national origin, and sexual orientation.

In the past year, the NAR received many complaints regarding discriminatory speech. The Professional Standards Committee decided to pursue the question of whether the Code of Ethics should apply to such speech.

As a result, the Professional Standards Committee held a special meeting and referred the issue of the Code’s applicability to discriminatory conduct to the Interpretations and Procedures Advisory Board. After numerous discussions on the Hub, the board produced a set of recommendations.

NAR’s Anti-trust Lawsuit

The National Association of Realtors (NAR) is a trade association that advocates on behalf of its members. It represents more than 1.5 million real estate agents and brokers.

NAR’s local multiple listing service (MLS) is a subscription database used by most home sales in the U.S. This service has a reputation for negatively impacting agents’ competition.

As a result, the Department of Justice has begun a broad investigation into the National Association of Realtors. The agency is looking into potential antitrust practices within the organization.

According to the Department of Justice, NAR has engaged in some illegal practices in residential real estate services. These practices include coercive tactics to prevent competition.

One of these practices is a per se group boycott of agents that effectively prevented a competitor from entering the market. A per se group boycott is a per se violation of the Sherman Act.

In addition to the group boycott, NAR also imposed rules that hampered competition in the real estate industry. They included a requirement that listing brokers submit their listings to MLSs within a day. Some agents deviated from this policy, which led to a de facto exclusion of these agents from the MLS.

NAR’s Attempts to Block Justice Department

The National Association of Realtors (NAR) is trying to block the Department of Justice’s request to withdraw consent to a proposed settlement. According to a recent news report, NAR is attempting to stop the federal government from investigating the industry for illegal restraints on competition.

So will realtors become extinct? The settlement is a compromise between the Justice Department and the real estate trade association that would make some of NAR’s policies more consumer-friendly. It will allow millions of home buyers to have greater choices.

NAR has been the victim of several antitrust actions. In November, the Department of Justice filed a civil complaint against the real estate trade association, alleging that NAR had engaged in a series of antitrust violations.

The Justice Department has also launched a broader investigation into the industry. Specifically, the department is looking into whether the rules and practices of the real estate trade association have stifled price competition.

While the settlement was touted as a major achievement, likely, NAR will never be able to return to its former anti-competitive practices fully. This has been a problem for the real estate industry since the days of the boom and bust real estate market in the early 1990s.

While the settlement is a boon for consumers, the United States can and should still pursue further antitrust action against NAR.