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The real estate industry is facing significant scrutiny and changes following a series of legal and policy developments. The National Association of Realtors (NAR) announced a proposed commission settlement in March, which has received mixed coverage by mainstream media. Additionally, the industry is criticized for practices like 'pocket listings,' where properties are sold in a non-public manner, likened to a black market. This practice, along with the structure of buyer agreements and commission policies, has led to accusations of a realtor 'cartel.' The Department of Justice (DOJ) is involved, with ongoing reviews and steps being planned against these practices. Furthermore, new rules require residential buyers to sign a Buyer Agreement before agents can show properties, including virtual showings.
How's this being reviewed by @TheJusticeDept team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit *not DOJ* "You must sign #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G
How's this being reviewed by @TheJusticeDep team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit *not DOJ* "You must sign #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G
How's this being reviewed by @TheJusticeDept team plotting next steps in #DOJvsNAR? Remember this nonsense was product of seller-sided lawsuit not DOJ "You must sign a #BuyerAgreement before the agent can show you a house, including virtual showing" Want #ClassActSAVINGS? DM https://t.co/pbBUB0dK1G