How NAR, brokers verdict could change the real estate industry
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- Опубликовано: 10 фев 2025
- The National Association of Realtors and major brokerages face over $1.8 billion in damages after a federal jury found they conspired to inflate seller commissions through unlawful practices. The class action lawsuit alleged NAR colluded with brokers to require home sellers to pay the buyer's broker, driving up total fees. The verdict has sparked copycat cases nationwide accusing real estate entities of violating antitrust laws.
Yahoo Finance's Alexis Keenan and Dani Romero analyzed the charges and implications of the verdict, discussing how the lawsuit has forced changed in the real estate industry across the country.
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First, it's Real-tor not real-it-or and it's NAR, not NRA.
Inflation is what's driving up home prices and the massive drop in interest rates a few years ago. Also if the homes appraised then why aren't they going after appraisers too. This is ridiculous
There is something more nefarious behind this. There are many disrupters like open door, Redfin, etc. trying to make traditional agents a thing of the past.
Also, I’m not a lawyer but seems like a simple enough defense. If you don’t want to pay us, do a for sale by owner. See how that goes. I can put a for sale sign on my car and sell it to someone on the street. You might get a lemon or you might get a check that bounces. Your fault for not wanting to pay dealer fees.
And Hourly fee 😂 ive shown clients as many as 30+ homes and they changed their mind. I’ve spent thousands on marketing a car wash and have yet to receive a penny until it closes. Hourly would have been beautiful in these instances, but not realistic.
The one thing I am not seeing discussed is buyer representation OK do you have to protect the interest of the buyer if the listing agent controls the entire commission structure double ending a deal would not serve the best interest of both parties. The way noir messed This up is on excusable. This is the type of representation that is below the standards of what we thought we were getting of agent.
20 year Realtor here. If I were paid an hourly-rate for the last 20 years , I’d be very rich.
Boo-hoo get a real job if you don’t like it.
You must be desperately inefficient.