The National Association of Realtors (NAR) reached a $418 million settlement in March, which caught agents and leaders off guard. The Department of Justice (DOJ) received approval to reopen its investigation into NAR, raising concerns and questions within the real estate community. Discussions and reactions are varied, with some expressing existential fears and seeking clarity on the implications of the settlement and the ongoing investigation. A special digital supplement of REALTOR® Magazine aims to separate litigation facts from fiction and emphasize the importance of a written buyer agreement. Meanwhile, there are calls for action against practices perceived as harmful to consumers, such as commission offers to buyer brokers and double dipping, with the DOJ suggesting an injunction to prohibit these practices.
NAR is NOT part of #MLSpinSettlement where #DOJStatementOfInterest seeks to end #CoBrokerBribes Was he asked: If #DOJvsNAR should help consumers #Save_30B annually by ending #DoubleDipping? Will DOJ go after #InventoryGate? Implications for @SearsRE now w/ @lamacchiarealty? https://t.co/pz5rLNDdFn https://t.co/XPZVHRNuNE
Today’s special digital supplement of REALTOR® Magazine includes critical content about the proposed settlement that separates litigation facts from fiction and helps explain the importance of a written buyer agreement. Check out the issue here. https://t.co/XrfDKq91tZ
Any official timeline for action on proposed #MLSpinSettlement? Article is behind paywall. Can someone bullet-point any key dates? DOJ has suggested it wants an injunction that would "prohibit sellers from making commission offers to buyer brokers at all." END #CoBrokerBribes! https://t.co/4KXTAXJtZG https://t.co/1IIeNUvrLo
The DOJ got the green light to reopen its NAR investigation. Now what? https://t.co/uCog6XSDAr
A $418 million settlement in March by NAR caught agents and leaders by surprise. In a mixed bag of responses to the latest Intel Index poll, they shared their early reactions and existential fears. https://t.co/xbbjY1aNyR