The National Association of Realtors membership gathered in the nation’s capital to ctrl-alt-del its reputation. Did it work?
May is Commission and Compensation Month here at Inman. We’ll sort through the noise and misinformation and provide you with the most up-to-date facts and strategies about how to prosper in the wake of the commission settlements. And look for straight-to-your inbox updates with Inman’s new weekly digest, Commission Chronicles.
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: The National Association of Realtors membership gathered in the nation’s capital to ctrl-alt-del its reputation. Did it work?
Uncertainty has been the watchword for Realtors for a while now, but the last year or so has taken its toll on members of the National Association of Realtors. From scandals to settlements, real estate professionals have been left wondering where their membership money is going, what it’s paying for and whether it’s worth it.
From those who simply want to operate without being members of NAR to those seeking to shift the paradigm and start a new trade group to those who are ride-or-die for the organization, there are plenty of opinions to go around. It was against this backdrop of confusion, frustration and — dare we say it? — even hope that Realtors of all stripes met at the Realtors Legislative Meetings in Washington, D.C., last week.
Inman’s Andrea V. Brambila was right there asking the tough questions on your behalf and putting her deep knowledge of the industry and the legal system to work to analyze the statements, note the discrepancies and bear witness to the country’s largest trade group as, like a newly divorced Real Housewife, NAR seeks to reset, refresh and renew its appeal to its members.
Oh, by the way, don’t miss her story on the board of directors meeting and the questions it raises about dues, the Code of Ethics and those mysteriously missing membership numbers.
The day NAR signed its commission lawsuit settlement, March 15, was “the first day of our future,” NAR President Kevin Sears said as he spontaneously fielded questions seeking clarity around the proposed settlement of commission lawsuits during a forum at the 1.5 million-member trade group’s midyear conference.
Sears spoke at the Idea Exchange Council for Brokers Forum at the Realtors Legislative Meetings in Washington, D.C., where he thanked the 100 or so attendees for combatting what he deemed “misinformation,” “half-truths” and “plain bad reporting” from the media regarding the proposed settlement.
Realtor.com CEO delivers full-throated speech in support of
Realtor.com CEO Damian Eales took to the podium on Monday at the MLS Forum of the Realtors Legislative Meetings to refute rival CoStar’s earlier claims about Homes.com’s growing traffic.
‘Godspeed’: Enforcement of NAR settlement changes shifts to
At the Realtors Legislative Meetings earlier this week, MLS executives were told they would be responsible for making sure real estate agents and brokers follow the new commission rules.
NAR board of directors votes to keep membership dues at
The trade group had signaled plans to raise dues in 2025, but during a board of directors meeting Thursday at the Realtors Legislative Meetings voted 894-20 to leave them as-is for another year.
As NAR met, talked, explained and made moves this week, Inman contributors did what they do — provided real-world advice and insights to make it make sense. Here’s some of the best industry-focused advice of the week, along with an NAR-focused Pulse question so that you can weigh in with your own opinions.
What if NAR went away? Examining the catastrophic
Although it may seem righteous to dismantle the institution that NAR has built, brokerage founder Sean Frank writes, the collapse of NAR could mean the end of the industry as we know it.
How to ignore the legal drama and focus on the
While you need to be aware of the changes going on in the industry, CEO Verl Workman writes, you also need to make sure to keep your focus on what you can control.
Did NAR’s buyer contract info provide the clarity you need? Pulse
Questions of agency, agreements and compensation are on the line. Do you have the information you need to move forward now?
Christy Murdock is a freelance writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.