NAR Settlement Could Change the Housing Market Forever
发布时间 2024-04-03 10:37:29 来源
摘要
Episode #201
06:52 Pick up where the Real Estate show left off!
A bombshell NAR settlement could bring wide-sweeping changes to the housing market. After a snowball of NAR lawsuits, the realtor association agreed to settle for a whopping $418 million and make critical changes to how real estate agent commissions are paid and how competition can be upheld. This significantly impacts anyone buying or selling a home and has life-changing effects for every real estate agent and realtor in the country. The New York Times’ Debra Kamin joins us to break the story.
Debra breaks down the enormous legal loss that NAR (National Association of Realtors) suffered last week and the impacts it will have on the housing market. First, we discuss the new agent commission rules, which may break the standard six percent fee that realtors are used to taking. These commissions are real estate agents’ livelihoods, and a new model that supports lower commissions could force many agents to leave the industry entirely.
We’ll also touch on the turbulent times NAR has faced recently, from sexual harassment scandals to changing leadership and, now, a massive settlement that could lose them more than half of their members. Will a new type of real estate agent form from the ashes of this century-old model? Or, could a brand-new way of buying and selling homes transform the housing market? Stay with us; we’ll give you the entire scoop.
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The NAR Will Eliminate 6% Commission Standards and Pay $418 Million in Damages After Settling Lawsuit:
https://www.biggerpockets.com/blog/national-association-of-realtors-to-pay-418-million-and-remove-commission-standards-as-part-of-settlement?utm_source=youtube&utm_medium=description&utm_campaign=none
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Is It the End of the Realtor? Inside the NAR Crisis:
https://www.biggerpockets.com/blog/the-end-of-the-realtor-inside-the-nar-scandal?utm_source=youtube&utm_medium=description&utm_campaign=none
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New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes:
https://www.biggerpockets.com/blog/on-the-market-135?utm_source=youtube&utm_medium=description&utm_campaign=none
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Read More From Debra:
NYT: https://www.nytimes.com/by/debra-kamin
Website: https://www.debrakamin.com/
Twitter: @debra_kamin or https://twitter.com/debra_kamin
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Show notes at: https://link.chtbl.com/OTM
00:00 Intro
01:50 A Huge Legal Loss
06:16 Agent Commission Collusion?
08:55 Commissions Will Change Forever
12:52 The End of Buyer's Agents?
21:37 NAR’s Massive Lobbying Budget
23:51 Sexual Harassment Scandals
27:15 Send Us Your Thoughts!
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