W
ith final approval for two major settlements just weeks away, objectors are raising concerns about damages, accountability, and fairness. Key points include:

    * Nine objections to the NAR and HomeServices of America settlements were filed in district court this week.

    * One objector claimed the agreement fails to address price fixing and compensation for harmed homeowners.

    * Another noted that HomeServices franchisees are essentially off the hook, making practice changes less effective.

    The final hearing for the $668 million NAR and HomeServices settlements is scheduled for November 26 in U.S. District Court in Kansas City. A stack of objections were filed on October 28, with many submitted by plaintiffs from other class action lawsuits.

    Many objections argued that the settlement didn't go far enough in terms of monetary damages and policy changes. One objection made a sweeping indictment of NAR and the industry as a whole: "This settlement agreement is a complicated one, but one that amply demonstrates the monopoly position of the National Association of Realtors."

    One new objector to the NAR settlement argued that the settlements disadvantage homebuyers, particularly racial minorities. Another concern was that the class size is too large, with some arguing that the proposed settlement expands the class to hundreds of MLSs across the country.

    Many objections also argued that HomeServices franchisees come away relatively unscathed, with no requirement to directly pay into the fund or make serious practice changes.