62 min listen
157: NAR Slapped with $1.8B Lawsuit Payout, Ripple Effects Could Be “Enormous” w/James Rodriguez
FromOn The Market
157: NAR Slapped with $1.8B Lawsuit Payout, Ripple Effects Could Be “Enormous” w/James Rodriguez
FromOn The Market
ratings:
Length:
32 minutes
Released:
Nov 8, 2023
Format:
Podcast episode
Description
The NAR lawsuit just ended in a way almost no one expected. The NAR (National Association of Realtors), America’s largest association of real estate brokers, agents, appraisers, and more, just got dealt a blow that there may be no recovering from. This lawsuit, which focused on agent commission splits, ended in a $1.8B blow to NAR, and this could be just the beginning of a slew of lawsuits like this.
To explain all the messy details, we brought Business Insider reporter James Rodriguez back on the show to explain this massive lawsuit, the verdict, and what this means for the entire real estate industry. This major lawsuit alone could bring sweeping changes to how agents buy and sell real estate and how they’re paid. Even more ground-breaking, the future of buyer’s agents now seems murky at best and non-existent at worst, as these commission structures may make buyer’s agents’ jobs almost obsolete.
If you’re an agent, investor, buyer, seller, or broker, the effects of this lawsuit CANNOT be ignored because if the dominos continue to fall, we could wake up to an entirely new real estate landscape.
In This Episode We Cover
The NAR’s real estate agent commission lawsuit explained
The $1.8B verdict and why this could swell up to over $5B in losses for the defendants
Why NAR and Keller Williams, two massive companies, weren’t able to win this case
The future for real estate agents and how this could crush their commissions
“Enormous” ripple effects that could come as a result of this lawsuit
Why NAR’s CEO decided to jump ship after the verdict was announced
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-157
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
To explain all the messy details, we brought Business Insider reporter James Rodriguez back on the show to explain this massive lawsuit, the verdict, and what this means for the entire real estate industry. This major lawsuit alone could bring sweeping changes to how agents buy and sell real estate and how they’re paid. Even more ground-breaking, the future of buyer’s agents now seems murky at best and non-existent at worst, as these commission structures may make buyer’s agents’ jobs almost obsolete.
If you’re an agent, investor, buyer, seller, or broker, the effects of this lawsuit CANNOT be ignored because if the dominos continue to fall, we could wake up to an entirely new real estate landscape.
In This Episode We Cover
The NAR’s real estate agent commission lawsuit explained
The $1.8B verdict and why this could swell up to over $5B in losses for the defendants
Why NAR and Keller Williams, two massive companies, weren’t able to win this case
The future for real estate agents and how this could crush their commissions
“Enormous” ripple effects that could come as a result of this lawsuit
Why NAR’s CEO decided to jump ship after the verdict was announced
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-157
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Nov 8, 2023
Format:
Podcast episode
Titles in the series (100)
6: The Not-So-Scary Way to Start Buying Real Estate in 2022: Maybe you wanted to know how to invest in real estate back in early 2020. You took some time to educate yourself by listening to podcasts and reading books. Then you went and got preapproved, found yourself an agent, and were ready to start hitting the pavement, searching for your first real estate deal. While you were on your hunt for profitable houses, the world started to shut down. Everyone was forced inside, the real estate market locked up, and you thought “maybe I should wait this one out.” Now, it’s 2022, and the housing market is arguably the most competitive it has been in decades. You missed your shot, right? Now you can never invest in real estate…or so you think. Dave Meyer, On The Market Host and VP of Data and Analytics at BiggerPockets, is here with Henry Washington, Jamil Damji, and Kathy Fettke to argue that you should still be investing in real estate. Even with rising interest rates, high home prices, and by On The Market