T
he National Association of Realtors' (NAR) antitrust settlement deal with the Department of Justice (DOJ) is facing a new hurdle. The DOJ filed a Statement of Interest two days before the final hearing on Tuesday, raising concerns about NAR's policy changes. Under the terms of the agreement, NAR agreed to pay $418 million and change its policies, including prohibiting listing brokers from offering commissions to buyer's agents on multiple listing services.

    The DOJ argued that NAR's new rule requiring signed contracts from buyers before showing homes "may harm buyers and limit how brokers compete for clients." The agency pointed to other cases where courts flagged similar contracts for antitrust violations. The DOJ also urged the judge to make clear that approval of the agreement doesn't prevent future action, as it only applies to private actors.

    NAR spokesperson said they will continue to advocate for final approval on November 26. It's unclear whether the filing will affect the judge's decision, which is expected today. If approved, the settlement would mean that NAR has sufficiently addressed and satisfied claims brought in the lawsuit.

    The DOJ's filing comes as some brokerages have already implemented the rule changes, with multiple listing services (MLSs) eliminating fields specifying buyer's agent commissions. Despite initial concerns about a mass exodus of agents, commission rates have held relatively steady. However, some brokerages have taken significant losses to resolve claims, including Douglas Elliman, which doubled its losses in the second quarter.

    The DOJ's comment on the NAR settlement could signal that the agency plans to leave its own mark on the industry's commission practices. The incoming Trump Administration may halt the department's progress, but it remains unclear whether they will prioritize antitrust action in the industry.