We are dropping a breaking news episode in your feed today as Steve Murray of RTC Consulting joins us to discuss an important update in the class action commission lawsuits brought by home sellers across the nation.
The National Association of Realtors (NAR) has settled for $418 million and will make several policy changes, pending court approval. This proposed settlement has several implications for the real estate industry, including the removal of compensation offers from the MLS. Murray talks about the potential for more commission compression as well as the possibilities for new business models, additional brokerage services and the future of NAR and state associations.
Here’s a glimpse of what you’ll learn:
- The settlement in the class action commission case has several implications for the real estate industry, including changes to compensation offers.
- The settlement opens up possibilities for new business models, with big brokers having an advantage.
- The billions in savings for homebuyers is a myth. Murray explains why it will not lower home prices.
- The settlement is seen as a significant development in the industry but it remains to be seen how it impacts the Department of Justice’s (DOJ) concerns over offers of broker compensation.
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