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In the wake of the $70 million settlement by Keller Williams, NAR and HomeServices of America appear to be the ones left holding the bag. What happens next?
Under the proposed deal, Keller Williams must inform franchisees that offers of compensation are not required. It also agreed to revise training materials and end rules requiring agents to join NAR.
In remarks made in Boston that were later posted online, new NAR President Kevin Sears declared business will change for Realtors — whether they embrace it or have it “forced down our throats.”
The franchisor filed a petition to the Supreme Court on Friday requesting the review of an earlier appeals court ruling barring it from enforcing arbitration agreements signed by seller clients.
NAR Chief Economist Lawrence Yun warned of “further declines in membership over the next 24 months” after NAR posted a 2.1 percent annual membership decline last month.