Howard Hanna has proposed a settlement that requires court approval and seeks to stay all related legal proceedings. Importantly, the company maintains it does not admit any wrongdoing in light of a lawsuit filed by home sellers following a significant trial outcome where the NAR and major brokerages were deemed liable for inflated real estate agent commissions. This case, like others, contests the legality of requiring sellers to compensate buyer's agents, which plaintiffs view as price fixing and an antitrust violation. Howard Hanna's settlement follows similar moves by other firms facing these commission lawsuits.
The settlement with Howard Hanna, pending court approval, seeks to halt proceedings while the proposed settlement is reviewed, emphasizing no admission of wrongdoing.
The lawsuit against Howard Hanna is among several that emerged after a landmark trial found the NAR and major brokerages liable for inflating commissions.
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