They have been fighting since 2020, and now the NAR plans to take the Department of Justice to the highest court in the country to enforce the previous agreement.
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Each week on The Download, Inman’s Christy Murdock takes a closer look at the week’s top stories to give you what you need to meet Monday head on. This week: They’ve been fighting since 2020, and now the NAR plans to take the Justice Department to the state’s highest court to enforce the previous agreement.
Much of the legal controversy discussed and written about in recent years has focused on buyers, with consumer watchdogs — not to mention buyers and sellers themselves — at the center of the discussion about what’s wrong with the way Realtors do business.
Overlooking the National Association of Realtors’ settlement, however, has been the question of what the Justice Department thinks about the way Realtors do business — and what changes it might want to approve.
Back in 2020, the DOJ simultaneously announced a countersuit and settled it with the NAR, focusing on rules that federal officials view as anti-competitive. Later, the DOJ reopened its investigation, and, in 2021, withdrew from the settlement.
Now, in a court filing, NAR has indicated that it plans to file a petition for a writ of certiorari – a request for review of the case – at the Supreme Court on October 10. This comes about a month and a half after NAR suffered. reversal after an appeals court denied a trade group’s request for a retrial.
MORE: Kevin Sears opens up about NAR and DOJ
With NAR’s struggles and agent uncertainty seemingly far from over, it’s important to watch your p’s and q’s when it comes to a group of traders – and how you do business. There is no doubt that the industry and its professional organizations are under scrutiny, so act accordingly.
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Massachusetts broker Nadine Hiser reveals the difference between NAR-affiliated and independent brokers like himself – and why his company, Key Realty Group, made the decision to leave NAR.
The life of a bicoastal agent since the commission rules changed
Selling real estate under the new commission rules is like playing Red Light, Green Light on a tightrope, bicoastal agent Dear Ameer he writes. Here’s how his business has been since the change.
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Is good news on the horizon for the real estate industry?
Bernice Ross you talk to Patrick Stonechairman and founder of Williston Financial, on interest rates, new construction and the 2024 election.
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