The NAR lawsuit just ended in a way almost no one expected. The NAR (National Association of Realtors), America’s largest association of real estate brokers, agents, appraisers, and more, just got dealt a blow that there may be no recovering from. This lawsuit, which focused on agent commission splits, ended in a $1.8B blow to NAR, and this could be just the beginning of a slew of lawsuits like this.
To explain all the messy details, we brought Business Insider reporter James Rodriguez back on the show to explain this massive lawsuit, the verdict, and what this means for the entire real estate industry. This major lawsuit alone could bring sweeping changes to how agents buy and sell real estate and how they’re paid. Even more ground-breaking, the future of buyer’s agents now seems murky at best and non-existent at worst, as these commission structures may make buyer’s agents’ jobs almost obsolete.
If you’re an agent, investor, buyer, seller, or broker, the effects of this lawsuit CANNOT be ignored because if the dominos continue to fall, we could wake up to an entirely new real estate landscape.
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In This Episode We Cover:
- The NAR’s real estate agent commission lawsuit explained
- The $1.8B verdict and why this could swell up to over $5B in losses for the defendants
- Why NAR and Keller Williams, two massive companies, weren’t able to win this case
- The future for real estate agents and how this could crush their commissions
- “Enormous” ripple effects that could come as a result of this lawsuit
- Why NAR’s CEO decided to jump ship after the verdict was announced
- And So Much More!
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.