A new Federal Reserve report finds no significant impact from buyer agreements or rebate bans on commission rates. It also reveals rates have declined only modestly—from 3% in the late 1990s to about 2.7% today (nationwide).
The New York Times released an article exposing the National Association of Realtors’ (NAR) lavish spending, from six-figure “volunteer” salaries to luxury perks.
On Friday, April 26, 2024, HomeServices of America agreed to a settlement in Sitzer/Burnett, et al, for $250 million.
Within hours of the New York Times announcement of the NAR settlement, Wall Street reacted, with several real estate companies, led by Zillow, seeing notable declines in stock values. Meanwhile, CoStar stock values climbed more than six points.
Mauricio Umansky of The Agency and Jason Haber of the NAR Accountability Project are teaming up to create an alternative to the National Association of Realtors.
A New York Times article suggests the National Association of Realtors (NAR) is losing its grip on the industry, while Jason Haber, founder of the NAR Accountability Group, lays the groundwork for an alternative association for real estate professionals.
On the day Bob Goldberg stepped down as NAR CEO, Byron Lazine hosted a special Hot Sheet livestream. Jason Haber called in and revealed the most commented-on New York Times article on October 31 was about the real estate industry.
With accusations in the New York Times “just the tip of the iceberg,” Jason Haber announced a project that calls for reform within NAR: the NAR Accountability Project.
Real estate professionals unite in a rallying cry against NAR, following the New York Times exposé and subsequent resignation of NAR president Kenny Parcell. Statements from NAR offer little assurance of meaningful change.
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