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Litigation Update - Preliminary Settlement Approved

ACTION REQUIRED to Participate

Litigation Update: Preliminary Approval by the Court, Action Required to Participate

April 24, 2024 | Texas REALTORS® Staff
gavel isolated on wooden table

Preliminary approval of the proposed settlement of the Sitzer/Burnett case was granted by the federal court on April 23. In its order, the court stated that “the proposed settlement with NAR, as set forth in the Settlement Agreement, is fair, reasonable and adequate, the class representatives have adequately represented the class … and the Court will likely be able to approve the Settlements … .”

This decision moves the case in a positive direction along the timeline provided by NAR. As a reminder, June 18 is a major deadline for MLSs and brokerages to be included as a released party under the settlement. This is because the plaintiffs’ filing of the motion for preliminary approval on April 19, 2024, initiated the 60-day time period during which all REALTOR® MLSs, brokerages with 2022 total transaction volume for residential home sales in excess of $2 billion, and non-REALTOR® MLSs who want to be covered by the settlement must take action. The deadline for these actions is June 18, 2024.

The settlement is subject to final court approval, and the court has scheduled a hearing on final approval of the settlement to be held on November 26, 2024.

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