Lets talk about NAR Lawsuit over Listing Broker Info
Hey, there, NAR. Up to it again, getting hit with more lawsuits from individual people claiming different items, and they’re under this consistent attack from all angles, right?
And it’s really hard to like, stand true and stand tall and like, have all these attacks from all these different sides. So I wish him the absolute best of luck as this next one does come in.
Is it legitimate and does it have merit? I’m not sure they say no, but we’re going to go ahead and report on this and have you guys to decide. The idea is that we just keep you up to date on things that are going on within the industry.
So you see some important points and. You know, have this all completed for you and you guys know where where this stands? So here’s the link and we’re going to split screen and take a look at it. So this broker sued Na, claiming that the listing agent omission violates antitrust.
And what they’re specifically talking about as we scroll down is the listing paperwork when it’s printed out and handed in. This one particular case does not include the listing agents information or the listing brokers information in anywhere whatsoever.
And as you scroll down, you’re going to see that it also says that it is, according to that location, a violation to put any information on how to schedule to show to who the listing agent is in the in the note section so that it can be read or is a public remark.
So this creates a problem, and they believe this person is alleging that there’s an unfair competition and that the listing agent is facing undue restraint of publicizing or advertising their information.
And that’s restricting competition, thus the anti competition or anti whatever lawsuit here. Right. So. There are some details ramifications, does it have merit?
I don’t know, it’s really every time you throw something at it and you have to defend and you have to win your side, either yes or no, this has merit or doesn’t. It’s just a lot to consistently defend.
And eventually one of these things is going to kind of penetrate and cause a problem for the National Association.
This one, in particular with realtors and the listing agents getting to have their information there. I do believe that they kind of should. I would be on the opposite side of NA on this one. And I think there’s been too much power taken away from the listing agent.
And I I haven’t studied this enough, but I think this might be actually a good thing if it succeeds for listing agents. I believe that there’s been too much power taken away from listing agents recently.
And you know, we might be better off to put the listing agent more at the forefront of the transaction so people can get in touch with.
When you suppress this information, it gives more power to others like Zillow to Realtor.com, and it makes the listing agent less valued in the transaction.
And that’s where I kind of see this problem headed. So if you would like to have more power as a listing agent and maybe reduce the power of a buyer’s agent, then this would be something that you hope kind of passes and is successful.
So we’ll see how all that goes, you guys. I’ll try to keep you updated on the progress as I see any of this coming along.
This gentleman, I think, has a lawsuit that does have merit, and I think it’s going to be a little bit more of a difficult one to defend with the initial information that I read.
So tell me how you guys feel about it and we’ll move on to the next topic. Thank you.