As the residential real estate industry begins a new chapter, marked by material changes to how business is conducted, the National Association of REALTORS® (NAR) has named Nykia Wright its permanent chief executive officer, effective immediately.
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I believe it is vastly important – and legally imperative – to provide to ALL real estate associated individuals and organizations that membership in NAR is NO LONGER mandatory or required.
I just paid my local Realtor Association’s yearly fee. A few hundred dollars was for NAR membership. There was no option to leave out the NAR part. Why are we forced to pay this NAR organization who clearly are not working in our interests. Isn’t NAR a monopoly?
Each realtor will have their own feelings and opinions of the settlement and its impact on realtors and consumers, but for myself, I am very angry because I feel I was sold out. There are bad actors in every industry that exists. Never have we seen every single member in an industry treated like they are ALL bad actors. The main thing I hear NAR talking about is how they managed to ‘protect’ agents. I think they should have fought. And agents who are guilty of steering, lack of transparency and basically greed, which is the crux of this mess, should be sued by their clients. Let them defend themselves in court. Agents like myself who DON’T steer clients, DON’T consistently demand one level of compensation (without negotiation), that DO negotiate their commissions with true transparency and DO put their clients’ fiduciary duty ahead of their own, are being treated unfairly. We have every reason to be pissed off. The rules about negotiable compensation, transparency, no steering and fiduciary duty have always been there, if agents were breaking those rules, let them deal with it in court, themselves.
AMEN!!!
AMEN!! I 500% AGREE!!!
Real Estate agents shouldn’t be required to belong to NAR. And I don’t want to hear that’s it’s not mandatory. I don’t know how other states work but in PA you must belong to NAR to belong to the PA association of realtors and you are required to belong to the PA state association to belong to your local association.
Listening to all of the causes this new CEO wants to champion on our $$ reminds me of the time Lucy asked Charlie Brown if all fairytales started out with once upon a time, he replied no, some start out if I’m elected.
There is literally nothing NAR can do to make me trust them ever again. They sold us out.