The real estate industry is facing significant scrutiny and changes following a series of legal and policy developments. The National Association of Realtors (NAR) announced a proposed commission settlement in March, which has received mixed coverage by mainstream media. Additionally, the industry is criticized for practices like 'pocket listings,' where properties are sold in a non-public manner, likened to a black market. This practice, along with the structure of buyer agreements and commission policies, has led to accusations of a realtor 'cartel.' The Department of Justice (DOJ) is involved, with ongoing reviews and steps being planned against these practices. Furthermore, new rules require residential buyers to sign a Buyer Agreement before agents can show properties, including virtual showings.
How's this being reviewed by @TheJusticeDept team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit *not DOJ* "You must sign #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G
How's this being reviewed by @TheJusticeDep team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit *not DOJ* "You must sign #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G
How's this being reviewed by @TheJusticeDept team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit not DOJ "You must sign a #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G
How's this being reviewed by @TheJusticeDept team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit not DOJ "You must sign a #BuyerAgreement before the agent can show you a house, including a virtual showing" Want #ClassActSAVING? DM https://t.co/pbBUB0dK1G
On 6th month anniversary of $5.35B verdict in 1st #ClassActRE lawsuit @Inman launching weekly digest Commission Chronicles 60 days ahead of July implementation target, declaring May Commission & Compensation Month #Intend2Buy, #Intend2Sell & wanna #Save_10K, Biden's goal? DM https://t.co/ja5o7oDuN5 https://t.co/WTzDXdJqzd
ALL residential 🏡 buyers: You must sign a Buyer Agreement before the agent can show you a house, including a virtual showing, AND Even when dealing with the listing agent directly. These are the new rules. If you don't like them, take it up with Biden and the DOJ. 🤷♀️ https://t.co/zjlqD8Jlce
"Do you want an agent to find you deals before they hit the market or one to let you know after they have closed?" Realtors accused of having a "cartel" (MLS + comp structure) while CRE brokers praised for off-market, institutional knowledge.
After the National Association of Realtors announced its proposed commission settlement in March, mainstream media covered the historic news with mixed results, an Inman analysis shows. https://t.co/WXbrrV9VWw
As #FairHousingMonth ends, check date of @BostonDotCom post by @sbvanvoorhis about #PocketListings Agent admits “They’re properties that can’t be purchased in public arena. Dark listings = black market for real estate" #DOJvsNAR: NAR's #ClearCoopUp policy strangles #BuyerAgents https://t.co/kXKPBeXymc