As NAR’s members and leaders met up, the industry’s biggest question marks took center stage amid a mix of opinions and perspectives.
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Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: As NAR’s members and leaders met up, the industry’s biggest question marks took center stage amid a mix of opinions and perspectives.
After more than a year marked by scandals, leadership changes and a controversial settlement to multiple commission lawsuits — slated for a Nov. 26 hearing for final approval — members and leaders of the National Association of Realtors met in Boston on Nov. 8-10 to ask questions and learn the latest on the increasingly controversial trade group’s policies and plans for the future.
In case you missed it, here are some of the biggest stories from the week.
As Compass CEO Robert Reffkin argued for the repeal of the NAR’s Clear Cooperation Policy at NAR NXT, he invoked the Z-word.
“My view is that Zillow is going to be the MLS,” Reffkin added later. “It’s just a matter of time.”
During a session titled “The Future of the MLS,” Reffkin joined other panelists to discuss topics ranging from artificial intelligence to industry rules to MLSs. There, Reffkin said, “I think if you were going to build an MLS today … I think it would be national.”
EXTRA: After NAR deal, MLSs will have to reinvent themselves — or else
In a speech that marked both her one-year anniversary at the NAR and emphasized the need for change in the organization, NAR CEO Nykia Wright addressed the trade group’s 986 directors, joining both in-person and virtually.
“One thing is for certain, if the industry is changing, we must lead and change with it,” Wright told NAR’s board.
Wright spoke about the need for the organization to rethink the way it interacts with both members and the outside world and doubled down on aspects of NAR’s governance. In particular, she reiterated support for the organization’s “three-way agreement,” wherein members must join local, state and national Realtor associations to qualify for membership.
The three-way agreement has come under renewed scrutiny in recent months and has been the subject of multiple lawsuits from Realtors who say it is “exclusionary” and has created an “antitrust monopoly” over the MLS.
EXTRA: NAR hit with new 3-way agreement suit as enrollment imbroglio
By now, industry upheaval is nothing new, and neither is its impact on your business. Fortunately, Inman’s industry-leading contributors have plenty of ideas to help you rethink the way you do business and move into the future stronger and better than ever.
Here are the latest:
Rebuilding your real estate business systems for a fresh
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What doesn’t kill us makes us stronger, Real’s Jimmy Burgess writes. Be more prepared than ever to see life-changing growth in your business in the coming year.
