There is big news in the real estate industry making the rounds today in the media. Does it affect folks outside of the biz?? You know I'm not sure. The better question might be... does it affect those of us IN the biz?? And again, I'm not sure.
Here's a few links about the news...
From Real Central VA
From Network World
Oh... there are many... many more thoughts and articles out there that you can peruse if you must.
The gist that I keep seeing is that because of this settlement... fees and other related costs to consumers for representation in real estate transactions is going to come down. That new business models will have a chance to prosper. Is this true?? Heck if I know.
What I do know is that I've been offering creative programs for real estate representation for the last year or so and finally have some interest from consumers for those services and 'new model' fees. I mostly market on the Internet anyway and I've never felt that I couldn't offer my listings on the MLS or was ever 'hamstrung' with the way I do business.
As a Realtor though... I know that the DOJ vs. the NAR deal has been going on for quite some time (a few years at least). High powered attorney's were no doubt used in this process and surely they came with a huge price tag. So as a member of NAR myself AND a taxpayer... I contributed to this 'hub-bub' on both sides. Nice.