NAR LAWSUIT UPDATE 👨‍⚖️🏠🏰👩‍⚖️

BREAKING: NAR Lawsuit Updates/ Compelling Arguments In The Trial

NAR lawsuit outcome could cut out buyer’s agent entirely *

Disclosure and contract separation could result from litigation, industry rep says

The current buzz in the real estate & mortgage industry centers around new scrutiny being placed on commission splits aka sharing between listing and buying agents in sales of US HOMEs.

Ongoing litigation has challenged the long-standing practice, with the core argument opposing the need for homes sellers to pay a fee to the buyer’s agent.

Under the commission sharing system, home sellers often pay a cut of up to 6% to be divided up between their agent and the buyer’s agent.

By and large, mortgage brokers have balked at the scrutiny given the long established nature of the practice.

The lobbying trade association for real estate agents – the National Association of Realtors – has defended this practice, citing a strict code of ethics to which real estate agents adhere to.

It’s unclear how the case will be resolved, but one thing seems to be clear.

The lawsuit will likely result in drastic changes across the real estate industry.