The Truth About NAR Lawsuits: Transparency, Commissions, and Brokerage Exodus
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- เผยแพร่เมื่อ 8 ต.ค. 2023
- Welcome to Zach Taylor Real Estate! In this eye-opening video, we dive deep into the current lawsuits rocking the real estate world, with a focus on the National Association of Realtors (NAR) and other major brokerages. Discover the shocking details about these lawsuits and the potential ramifications for real estate agents, buyers, and sellers.
- Introduction to NAR lawsuits and their significance
- The push for transparency in buyer's agent commissions
- Understanding the negotiable nature of buyer's agent commissions
- Brokerages breaking away from NAR and the Realtor mandate
- The implications of leaving NAR and the MLS
- A call for a more transparent and choice-driven real estate system
- What this means for YOU as a real estate agent or consumer
- The future of real estate and the importance of staying informed
Join the conversation about the future of the real estate industry by watching this video and sharing your thoughts in the comments below. Don't forget to like, subscribe, and hit the notification bell to stay updated on the latest developments in real estate, transparency, and commissions.
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- NAR lawsuit
Zach for president 2024 🎉 Happy to be apart of a brokerage who is actively fighting for our rights and fair treatment.
Thank you!!
Outstanding video! Time for a reckoning? Fees, Fees, Fees. Everywhere.
Agents need to watch this, especially newer in the business!
Thank you! We don’t mandate NAR membership. Only these MLS systems or local associations do because they have a financial interest intertwining the two together.
I think NAR is antiquated and do a lot of nothing for the agents then give our phone numbers to every independent insurance company that I'm sure they also get kick backs from. In my 10 yrs I've yet to see them do anything positive for us. I 100% agree with everything you said.
I get 2 of those texts per day.
NAR is unnecessary. It’s time for the industry to change.
I believe it’s time for change. It’s takes all of us as real estate agents to speak up
Thanks Zach for looking out for agents and what is truly fair. You are appreciated!
Thank you Bob
Thank you, first realtor TH-camr who is clearly presenting the case and both side of the argument.
Love this comment!
In Washington state, the MLS (NWMLS) is not a member of the Realtors, and therefore, joining NWMLS is not contingent on having to join the Realtors This resulted in many offices opting out of paying realtors dues. Although the big offices like ReMax, Keller Williams, John L Scott, Coldwell Banker Bain, Windermere, etc are members of the Realtors and for one to join these offices they would have to pay the extra ($600/yr) to join NAR and the local and state chapters of the Realtors. It's all or none. NWMLS covers much of western Washington and some central Washington counties of Grant, Chelen, Lincoln, and Adams. In Spokane, Walla Walla, and Yakima, the MLS is operated by the local board of Realtors, so they do pay realtor dues in addition to MLS dues.
I like what you describe of NWLS. The MLS systems and Realtor membership should be independent of each other.
I am currently preparing for my Florida Agent exams. How do I find good brokerages that will allow me to work without joining NAR.
And correct me, If agents stop using MLS, then how will they operate, like how will they check commissions and reach out to listing agents ?!
You’ll have to find non “Realtor” brokerages. It’s few and far in between to find them because usually that means they aren’t a part of an MLS system. The MLS systems as a whole can operate better. 1. Stop requiring mandatory Realtor membership. 2. Data share with all the other mls systems in the state. This removes restrictions for agents and some of the pay for play environment. 3. A new mls can be created that encourages agents to be just that, agents without needing to join Realtor boards. Or 4. I hate to say it but Zillow could create a nationwide mls system. They can undercut the entire mls industry because they already have the infrastructure. They can offer it cheaper than current options and you’d see Realtor boards and MLS systems go out of business.
It’s always a long road ahead but we can voice our opinions for change and improvement.
What area of Florida?
How is it beneficial to a client to have an agent working outside of their market in an area they are unfamiliar with? We do not get paid to list and sell property. We get paid to represent clients.
Everyone’s first sale starts in a market they are unfamiliar with.
I've sold at least 3 outside of my market and will again. Just takes asking questions and pulling info.
@@keleighwyatt4745 the state also gives us a license for the entire state not regions. Once you understand comps and take time to study a market you can help anyone. We all work hard for our clients and there are times we can help our client more than a local agent
@@zachtaylorrealestate absolutely 💯!
cdn.nar.realtor/sites/default/files/documents/2023-nar-bod-budget-proposal.pdf
This type of total control over markets is what def needs & must change. I think with the lawsuits, it may open door to much needed disruption in the market & open up real competition. NAR is the definition of monopoly & this must be addressed under anti-trust laws. The MLS must be segregated & independent from the associations. Go Zach!!!
The whole system is just a puppy mill / money grab, you pay almost 2K just to get started and then CE credits and annual dues forever.
The CE credits are usually a state requirement not NAR. However, I think NAR has something to do with all the Realtor Designations. Abr, CRS GRI, etc. I love education but I don’t like you have to pay annually to maintain these designations. I don’t have to pay royalties for my college degree.
Code of Ethics is out-of-date and should be changed.
Some ethics could actually be rules of the MLS. Break ethics and you get fined, suspended or banned from using the MLS.