A
law professor has filed a scathing objection to the National Association of Realtors' $418 million settlement with home sellers. Tanya Monestier, who teaches at the University at Buffalo School of Law, calls the deal "the worst of all possible worlds" and warns that its implementation will bring chaos and frustration for consumers.

    Monestier's 136-page objection highlights several concerns, including the fact that the settlement doesn't go far enough to decouple commissions from home sales. Without complete decoupling, she argues, the current system will continue to be replicated, with buyers being forced to pay unnecessary fees.

    The professor also criticizes the high attorney fees requested in the settlement, citing examples of similar cases where fees were significantly lower. She notes that the only changes resulting from these commission settlements so far are the removal of offers of compensation from the MLS and the requirement that buyers sign an agreement before working with an agent.

    Monestier argues that the settlement will create a more painful experience for homebuyers, with increased paperwork, headaches, and lies. She advocates for full decoupling of commissions and suggests that buyers should pay for representation independently, rather than being forced to offer commissions in advance.

    The professor's objection has sparked concerns about the effectiveness of the settlement and its potential impact on consumers. As the deal is set to be finalized on November 26, Monestier's comments highlight the need for a more comprehensive solution to address the issues surrounding commission settlements.