The Daily The Bombshell Case That Will Transform the Housing Market
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Mar 20, 2024 
Debra Kamin, a seasoned real estate reporter for The New York Times, dives into a monumental legal settlement that is set to shake up the American housing market. She discusses the historical influence of the National Association of Realtors and how their control over commission fees has been deeply entrenched for decades. Debra explains how this landmark case could drastically reduce housing costs and revolutionize real estate practices, making buying and selling homes more accessible for everyone.
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NAR's Influence
- The National Association of Realtors (NAR) has wielded significant power over the real estate industry for over a century.
- Their control has been so pervasive that they've dictated commission fees and agent interactions, making them seem untouchable.
NAR's Control
- NAR's power stems from its control over Multiple Listing Services (MLSs), essential databases for listing and selling homes.
- They also control commission information and even own the copyright to the term "Realtor."
NAR's Reach
- NAR's control extends to physical lockboxes, technology used by agents, and even DocuSign for transactions.
- They own or have a stake in many aspects of the home-selling process.