Industry Relations

NAR’s Response to the Sitzer Burnett Lawsuit: Jump Ship or Grab A Bucket

Nov 8, 2023

The hosts discuss NAR's response to the Sitzer lawsuit and the potential impact on agents and brokers. They express frustration with NAR's lack of planning and communication. They speculate on the future of realtor associations and MLSs and discuss the potential consequences of breaking away from NAR. They also talk about negotiations, potential settlements, and the implications for realtors. They discuss CatchMark's interaction with the Department of Justice and a political candidate who could defund the deep state.

55:27

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Episode notes

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Quick takeaways

NAR's lack of a post-verdict contingency plan has raised concerns about its leadership and ability to handle the Sitzer lawsuit fallout.

The communication between the attorney representing the plaintiffs and the Department of Justice suggests the DOJ's active involvement in the case and potential intention to separate the MLS from NAR.

Speculations about NAR's strategic use of Realtors Property Resource (RPR) to establish non-realtor-controlled MLSs adds an intriguing dimension to the industry's future changes.

Deep dives

NAR's Lack of Post-Verdict Contingency Plan Raises Concerns

The recent podcast episode discusses the surprising revelation that NAR did not have a post-verdict contingency plan in place after the Sitzer lawsuit. This lack of preparation and communication raises concerns among MLS execs and local associations who are now questioning NAR's leadership and ability to handle the situation. The absence of a clear plan may prompt some MLSs and locals to consider distancing themselves from NAR and exploring alternative options.

Introduction

4min

Impact of Recent Verdict on Real Estate Industry

8min

Shock and Uncertainty: The Potential Impact on the Industry

2min

The Fallout and Uncertainty

16min

Negotiations, Lawsuits, and Settlements

7min

Department of Justice and CatchMark

16min

Pre-party plans and an ad for Two Brothers Creative

2min

It’s been a rough week for the real estate industry and in the aftermath of the Sitzer Burnett lawsuit, what does it really mean for everyone in the industry? Tune in to this episode of Industry Relations as Rob and Greg break down NAR’s response to the lawsuit. Find out why Rob believes a lot of people will abandon NAR and why Greg feels that this shouldn't be the spark that sets everyone off.

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