A wave of recent lawsuits makes it clear that the NAR’s legal troubles are far from over. Where do they (and you) go from here?
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Each week, Inman’s Christy Murdock on The Download delves deeper into the week’s best-read stories to give you what you need to meet Monday head-on. This week: A wave of new lawsuits makes it clear that the NAR’s legal troubles are far from over. Where do they go from here – and what should you do to protect yourself?
For all the hand-wringing and pearl-clutching surrounding the National Association of Realtors’ commission settlement, which went into effect in most markets on August 17 and will be finalized in November, this is just the tip of the legal iceberg for the largest trade group of the country.
The organization recently said it would take steps to change its legal strategy following the departure of its Chief Legal Officer Katie Johnson. Is it too little too late as NAR is being buffeted on all sides by consumers, the US government, brokers and agents?
Last week, real estate agent in Pennsylvania Maurice Mohammed has filed suit against NAR, Pennsylvania Association of Realtors and Greater Lehigh Valley MLS for $5.6 million. At stake? The requirement to be a real estate agent to access the MLS.
Muhammad’s lawsuit follows a lawsuit filed in August by two Michigan brokers and an agent, naming NAR, their state and local associations, and Realcomp II, their MLS.
These lawsuits involve legal challenges from consumers and the Justice Department, as well as legal questions surrounding the trade group’s Clear Cooperation Policy and challenges to the industry’s dominance by upstart associations such as the American Real Estate Association.
EXTRA: NAR Rival Seeks Agents for Possible Class Action Against Clear
As NAR continues to look for ways to make C be A, you need CYA too. That means that as an agent you have to pay attention to yourself and ask smart questions of your leadership. As a broker or team leader, you need to know what your agents are doing and saying.
This week, Inman contributors offered insights into both perspectives so you can talk to buyers, sellers, and colleagues with confidence.
Brokers, you are responsible for the behavior of your agents
Because NAR settlement requires more layers of oversight, consider these tasks, policy ideas, and suggestions as you update your systems, Compliance Expert Summer Goralik writes.
The new redlining: Paying a buyer’s agent is only part of the challenge
35 Questions Your Next Realtor Hopes You Don’t Ask
Whether you’re considering switching agents or joining a team, the interview is as much for them as it is for you, writes Troy Palmquist.
