Landmark Verdict Against Realtors Among Several Problems Plaguing Industry, Say Experts

As the National Association of Realtors faces litigation on several fronts, some say that inflation and property shortfalls are the real issues.

A home for sale is seen in Orlando, Fla., on Dec 8, 2020. AP Photo/John Raoux, File

The U.S. real estate market is in an uproar following an Oct. 31 verdict in a Missouri federal court finding that the National Association of Realtors (NAR) and several brokerages conspired to artificially inflate commissions paid to real estate agents. They were ordered to pay $1.79 billion in damages.

Two days after the verdict in Sitzer/Burnett v. NAR Commission, the NAR announced that its CEO, Bob Goldberg, had resigned. Mr. Goldberg claimed to have made the decision in October, before the verdict was in.