The NAR is embroiled in a new legal dispute as agents and brokers in Michigan must obtain “mandatory” real estate agent membership to enter the MLS after eliminating “guaranteed agent commissions.”
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Each week on Download, Inman’s Christy Murdoch goes deeper into the week’s hottest stories to give you the information you need to face Monday. This week: The NAR is embroiled in a new legal dispute as agents and brokers in Michigan must obtain a “mandatory” real estate agent membership to enter the MLS after eliminating the “guaranteed agent commission.”
The National Association of Realtors’ (NAR) settlement in a commission lawsuit in March set off a wave of outrage from real estate professionals, who expressed their outrage in overheated social media posts and frustrated op-eds.
Frustrated by the sometimes confusing rollout of rule changes and paperwork, agents and brokers have actively sought to resist what they see as unfair settlements.
One of the biggest understatements in recent days has been the American Real Estate Association (AREA), an upstart trade group led by New York City brokers Jason Harper and the founder of the agency Mauricio UmanskyHaber said the tiered membership program announced this week was intended to provide an alternative to NAR because “there’s a lot of dissatisfaction with the status quo.”
Extra: National Real Estate Association launches membership for first time
Coincidentally, we also heard news from the interim head of NAR Nikia Wright First time this week. She defended the settlement and encouraged angry real estate agents to raise criticism internally to avoid “consumer confusion” and to help NAR “become the best organization it can be.” [it] Can.
Extra: NAR interim CEO: Settlement is ‘without a doubt’ the right thing to do
No doubt you are used to legal battles between consumers and industry by now. Well, it seems some real estate agents are following this playbook and airing their displeasure in court:
Three Michigan real estate professionals have filed a class-action antitrust lawsuit against national, state and local associations of REALTORS, challenging the requirement that they must belong to a trade group to access the local Multiple Listing Service.
The two agents and a broker filed the lawsuit after the National Association of Realtors reached a settlement in multiple antitrust lawsuits, with professionals saying the rule change would harm agents, brokers and consumers. .
The lawsuit, filed in the U.S. District Court for the Eastern District of Michigan, involves NAR, the Michigan Association of Realtors, the Grosse Pointe Board of Realtors, the Metropolitan Association of Realtors, the North Oakland County Board of Realtors and the Michigan Association of Realtors. The largest board of REALTORS® in WGU. The filing charges them with civil conspiracy, economic coercion and unfair restraints of trade in violation of the federal Sherman Antitrust Act and the Michigan Antitrust Reform Act.
Bonus: A brave new world awaits in the real estate industry. Who are you
While Michigan real estate agents vent their frustrations in court and AREA adds new names to its membership roster, others are trying to get paid after Aug. 10. 17. Luckily, from best mindsets to practical strategies, we hear from industry leaders in this week’s download, who offer new insights into game-changing technology, compensation plans, and preparing for the road ahead. Methodological insights.
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