You've Seen the Headlines.
The National Association of Realtors (NAR) recently announced a $418 million proposed class-action settlement. Since then, sensational headlines and rampant misinformation have churned in news reports daily.
As trusted professionals, we must share our thoughts and truths. We are honored and passionate about helping people create wealth through real estate, and that will not change.
It's important to know that our Northwest Multiple Listing Service (NWMLS) is owned by its members and not NAR. The NWMLS has never engaged in the practices cited in these class-action lawsuits. Our NWMLS has been a national leader in consumer transparency and has not faced any charges of deception or engaging in collusion against consumers.
When the first lawsuit was filed in 2019, our NWMLS was proactive in changing forms to clarify compensation and consumer choices. They also changed practices to publish buyer-broker compensation to the public. Although Madison and I have used the Buyer Agency Agreement in our business since 2017, since January 2024, it has been the law that an agent sign this agreement before providing services.
Each agent runs their own business without set servicing or fees. We do know that not all real estate agents are created equal. In any organization, there are unethical, inexperienced, and incompetent practitioners and people. They do not speak or represent the whole industry.
We are proud of professional organizations like the National Association of Realtors and local Realtor associations. We are proud of our colleagues who are dedicated to professional standards. And we are also proud of our local MLS, its practices, and its forward-thinking approach to consumer protection. Our commitment to our communities, homeownership, and making a difference is unmatched.
Buying and selling a home is one of the larger significant financial events that occur a handful of times in one’s lifetime. We know that people will still need a trusted professional to guide, negotiate, and protect them through the complexities of this transaction, as well as provide support during ownership. They need someone informed about local issues, legalities, risks, and nuances. This is our practice. Our clients are grateful for the support of our professional services and repeatedly recommend us to people they love and trust. That will not change.
We will continue to serve our clients with transparency and integrity. Our experience, knowledge, and business processes are integral to the advocation of our clients. That will not change.
If you have any questions about what this means as it plays out, please call or reach out. Regardless of the headlines, we are still committed to ensuring your real estate journey with us is exceptional.
Regina and Madison
RM Home Specialists
Licensed Managing Brokers | Realtor®
Windermere North Narrows
R 253.381.6685 | M 253.686.7383
rmhomespecialists@windermere.com
Tacoma Real Estate | Building Wealth | Luxury Homes | How to Sell a House | How to Buy a House | Windermere | Regina and Madison | Pierce Country Real Estate
