As NAR members and leaders met, the industry’s biggest question mark took center stage amid a mix of opinions and perspectives.
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Each week on The Download, Inman’s Christy Murdoch takes a deep dive into the week’s most-read stories to give you what you need to face Monday head-on. This week: As NAR members and leaders meet, the industry’s biggest question mark takes center stage amid a mix of opinions and perspectives.
After more than a year of scandals, leadership changes and controversial settlements of multiple commission lawsuits (with a hearing scheduled for Nov. 26 for final approval), the National Association of Realtors members and leaders will meet in Boston from November 8th to 10th to ask questions and learn the latest information about the industry group’s increasingly controversial policies and plans for the future.
In case you missed it, here are some of the biggest stories of the week.
When Compass CEO Robert Reffkin advocated for an end to NAR’s explicit cooperation policy on NAR NXT, he invoked the Z-word.
“My view is that Zillow will become MLS,” Levkin later added. “It’s only a matter of time.”
In a session titled “The Future of MLS,” Levkin joined other panelists to discuss topics ranging from artificial intelligence to industry rules to MLS. So Levkin said, “If we were to create MLS now…I think it would be national.”
Side note: Post NAR agreement, MLS needs to reinvent itself or else
In a speech commemorating NAR’s one-year anniversary and highlighting the need for organizational change, NAR CEO Nikia Wright joined the industry association’s 986 directors who attended in person and virtually. gave a speech to
“One thing is for sure: If the industry is changing, we must lead the industry and change with it,” Wright told NAR’s board of directors.
Mr. Wright further highlighted aspects of NAR’s governance, speaking about the need to rethink how the organization interacts with both its members and the outside world. In particular, she reiterated her support for the organization’s “tripartite agreement,” which requires members to join local, state and national realtor associations to qualify for membership.
The three-party agreement has come under renewed scrutiny in recent months, and has been the subject of multiple lawsuits from real estate agents, alleging that the agreement is “exclusive” and that MLSs are subject to “antitrust laws.” ” is claimed to have been produced.
Extra: NAR faces new tripartite agreement lawsuit as registered inbroglio builds
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