Industry Relations Back to the future with Sub Agency?
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Rob and Greg dive into the latest developments in the real estate industry, including Andrea’s move to Real Estate News, Anne Marie’s push for MLS independence, and ongoing debates around realtor commissions and compliance. They also examine a new lawsuit challenging enforcement of buyer representation agreements and revisit the idea of sub-agency as a potential solution to persistent steering problems.
Key Takeaways-
Andrea at Real Estate News: Andrea joins Real Estate News, raising hopes for stronger investigative journalism in the industry.
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MLS Independence: Anne Marie’s upcoming retirement sparks discussion on MLS separation from associations and questions of ownership structure.
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Realtor Commissions Rising: Despite reforms, commissions are reportedly up, prompting concerns over steering and transparency.
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ZEA v. NAR Lawsuit: A self-represented broker challenges MLSs and NAR over lack of enforcement of buyer agreements, potentially opening the door for class action.
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Compliance Issues: Evidence suggests weak enforcement of mandatory buyer agreements and ongoing loopholes in rules.
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Return to Sub-Agency? Rob argues a shift back to sub-agency could simplify compensation and cooperation while reducing steering conflicts.
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Future Uncertainty: Regulatory or legislative changes may be required to address systemic problems that lawsuits alone cannot solve.
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