Suppose someone (e.g., your past real estate client, your current real estate client, perhaps your future real estate client, a consumer, a friend, a relative, a colleague) contacts you and mentions a class action lawsuit postcard. In that case, you may want to be familiar with the NAR and SCR provided information so that you can use this interaction to educate about your professional value and the value of your MLS systems and the value of your professional services that you provided in their past real estate transactions, their current real estate transactions, and possibly may provide in their future real estate transactions.
https://www.screaltors.org/nar-lawsuit-settlement-scr-faqs-and-resources/
Since this is a potential legal matter where the individual may be receiving the postcard as a potential part of the class and may need to respond in some way to the postcard, you always want to recommend they make their own legal decisions in concert with their legal counsel. There is a lot of accurate and inaccurate information on the internet that they can discuss with their legal counsel perhaps. Unless you are their legal counsel, it is best that you do not give them any legal counsel. Because the class might be a very large number of people but still currently an unknown number of people and the litigations/settlements are currently on-going regarding dollars, even their legal counsel will face some unknowns when attempting to provide legal counsel.
There is general information about class action lawsuits on the internet (e.g., https://en.wikipedia.org/wiki/Class_action). Most people have some general knowledge about class action lawsuits.
The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
Posted by: Byron King on 04/03/24 (This information is only accurate as of 04/03/24. You must contact SCR for updates and changes to this information after 04/03/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.