The National Association of Realtors (NAR) has reached a $418 million settlement, prohibiting sellers' agents from offering commissions to buyers' agents in the MLS. New companies are emerging to fill the gap. REcolorado's ownership by two shareholder REALTOR Associations is being acquired by a NYC fund, potentially going private. The Denver Metro Association of Realtors and South Metro Denver Realtors Association support the sale, citing protection amid industry litigation. Changes are expected by Aug. 17 to comply with legal settlements, with a focus on buyer representation agreements.
Digging into this report from @ConsumerFed (h/t @LaterWendy) but this intro paragraph caught my eye: "Part I of this Report analyzes the proposed Buyer Representation Agreement from a consumer protection standpoint—i.e., would a reasonable buyer reading this Agreement be able to…
Denver Metro Association of Realtors and South Metro Denver Realtors Association say sale to private equity firm would offer protection during a time of intense litigation in the real estate industry. https://t.co/o17ggxVaMR
New report shines light on buyer representation agreements as brokerages and Realtor organizations move to update forms and comply with legal settlements this summer. https://t.co/x53fQkDHLI
Received just now from a reader based in Denver: Joint Statement on the Prospective Sale of REcolorado® Joint statement from the South Metro Denver REALTOR® Association and the Denver Metro Association of REALTORS®, respectively. First and foremost, we want to apologize to…
The National Association of Realtors has agreed to make changes by Aug. 17, as part of its $418 million settlement agreement in a series of class-action lawsuits over buyer commissions. https://t.co/8FAaDeTJPh
So. This happened. Word is that a NYC fund purchased controlling stakes from two shareholder REALTOR Associations. Assuming the deal goes through, and REColorado is taken private, what are your concerns, if any? This is relevant to everyone, not just Denver folks.…
BREAKING NEWS: The associations that own the 16th-largest MLS surprised its leaders with a deal that “scared the absolute hell out of us,” REcolorado’s vice chair said. https://t.co/B8yIr8ofIf #realestatenews #realestate #breakingnews #realestateagents
NAR's landmark settlement bars sellers' agents from offering commissions to buyers' agents in the MLS. A batch of new companies are stepping in to fill the void. https://t.co/FSLyozwNkz