National Association of Realtors Headed For "Extinction-Level Event"

That day in November [2023], it was obvious to the staff that N.A.R. -- an organization that for more than a century has stood as a monolith of influence within the real estate industry -- was losing its grip. This year delivered a one-two punch of dual scandals, and many within the organization admit N.A.R. is now in real danger of going under. Several high-profile real estate agents are talking abou In addition to sexual harassment allegations, N.A.R. is taking on legal challenges to its policy that requires a listing agent to pay a fee to a buyers' agent in a home sale transaction -- a fee that is nearly always passed on to the home seller. Just weeks before the convention, a federal jury agreed with a trio of Missouri home sellers that N.A.R. had operated a price-fixing conspiracy around agent commissions, and ordered damages of at least $1.8 billion. Additional lawsuits, more than can be counted on both hands, are piling up. The specter of bankruptcy looms large. The Department of Justice is continuing an investigation into the group for antitrust violations, and some of the nation's largest brokerages, including Re/Max and Coldwell Banker, have said they will no longer require their agents to carry N.A.R. membership. Redfin will require agents in certain markets to cease paying dues. "This is an extinction-level event," said Jason Haber, a real estate agent with Compass who has been one of the most outspoken critics of N.A.R. since the harassment allegations broke. "You cannot dispassionately look at the facts and say that everything is Ok