Real estate professionals in North Texas face an uncertain future thanks to a recent settlement over commissions.
For years, while Jack worked in retail, he was looking for a career change, something more entrepreneurial and flexible. So he got into, with its potential to earn more money. It’s been a challenging job, but he’s loved it along the way. Now, however, he’s considering other options in light of a recent court settlement.announced an agreement
No one with NAR was willing to comment directly because the settlement is still being worked out, but a spokesperson sent this statement: “We are pleased that the court has preliminarily approved the settlement because it is in the best interests of all parties and class members. It has always been NAR’s goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible.
"I think they are doing some meddling that’s going to have very wide-ranging consequences.” – Jack, local real estate professional“That’s how it’s always been,” Jack said. “It’s a system that has generally worked, and what they’re doing now , I think they are doing some meddling that’s going to have very wide-ranging consequences.”
The technique is profanity-based, Dalton warns, but he decided to bleep out the swear words. “Here’s the technique,” Dalton says. “There's no bleeping, bleeping way I'm going to cut my bleeping, bleeping commission.
So, when he first heard about the settlement and the pending changes he was open-minded, mainly, he said, because he didn’t know enough about it yet. “Honestly, we’re still not 100% exactly sure what the changes are going to actually be,” he said. And he has no idea how it will all shake out in the end. “The more I hear, the more concern I do have about the industry,” he said. “I definitely am concerned for buyers’ agents.
They’re the ones on the road for hours on the weekends showing homes, he said. They’re the ones who are writing up offers at late hours of the night, sometimes with very little notice. He said it’s hard to see who is benefiting from these changes. He is going to stay in real estate for now, but is considering his options “very seriously.”
“In my opinion, this settlement does not help or protect the consumer in any way,” Narey said. “On the contrary, it exposes buyers to potential exploitation by sellers.”
North Texas Real Estate National Association Of Realtors
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