On The Market
NAR Hit with Another Blow After Shocking “Donation” Discovery w/NYT’s Debra Kamin
Dec 12, 2024
Debra Kamin, a New York Times reporter, uncovers shocking revelations about the National Association of Realtors' hidden political donations. She discusses the fallout from a major commission lawsuit and troubling leadership changes within NAR. Many members are frustrated to learn their dues fund questionable political groups, possibly straying from industry interests. Will these controversies spark competition among real estate organizations? Kamin's investigation suggests NAR's troubles might just be beginning.
33:22
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Quick takeaways
- The NAR faces significant challenges including a massive lawsuit settlement and leadership turmoil amid allegations, impacting its credibility and future direction.
- Investigative reports highlight NAR's controversial political donations, raising concerns among members about transparency and the allocation of their dues towards partisan initiatives.
Deep dives
Legal and Financial Scrutiny of NAR
The National Association of Realtors (NAR) has been dealing with significant legal challenges, particularly related to commission rates. A notable lawsuit from a group of home sellers accused NAR and several brokerages of price-fixing and artificially inflating real estate commissions, resulting in a settlement amount of $1.8 billion. This settlement led to substantial changes in NAR's practices, further emphasizing the scrutiny NAR faces regarding its financial dealings and transparency. The impacts are profound, affecting not only the organization itself but potentially influencing the housing market and real estate practices nationwide.
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