SOTM: The Lawsuit That Could Kill Realtor Associations and the MLS

March 13, 2019

Last week, a class action lawsuit was filed against the NAR (among others) on behalf of “all persons who paid a broker commission since March 6, 2015 in connection with the sale of residential real estate listed on one of the Covered MLSs.” The MLSs included in the class action complaint cover major real estate markets and have serviced millions of consumers since 2015. While similar suits against the NAR have failed to go the distance, the law firms leading this one are among the most successful in the nation. Find out what could happen if they win on today’s State of the Market podcast!

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Listen to today’s show and learn:

  • Co-host Knolly Williams’ brief bio [2:09]
  • How a class action lawsuit could kill Realtor associations [2:51]
  • The average seller’s perspective on co-op commissions [10:11]
  • An exercise for easily explaining co-op commissions [16:55]
  • Pat’s experience dropping the co-op fee [22:30]
  • What consumers stand to gain from this lawsuit [32:36]
  • How to break through your goals.
  • Plus so much more.

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Thanks for Rocking Out

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