NAR (now Compass) resolved.What do you think: Download | Private Equity Weekly

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Each week on Download, Inman’s Christy Murdoch goes deeper into the week’s hottest stories to give you the information you need to face Monday. This week: Real estate professionals react after NAR’s big settlement and Compass’ new settlement.

For years, we seemed to be living in a state of limbo as the commission’s lawsuits made their way through the courts, culminating in a multi-billion dollar verdict in Halloween’s shocking Sitz case. Burnett.

Since then, industry entities that underestimated the potential impact of commission lawsuits — and are now facing a flood of copycat lawsuits — have begun digging in to find solutions in the form of settlements of their own in an attempt to quell the litigation. .

Last week, NAR’s surprise announcement of a $418 million settlement and a series of potential changes to how commissions are disclosed and paid shocked real estate agents and heightened fear, frustration and, in some quarters, They were also happy that the situation was finally over. At least there is some uncertainty in the industry.

break in: Because Friday wouldn’t be possible without some major developments in this ongoing saga, this morning Compass announced a $57.5 million settlement.

Of course, we had the initial tip, but we didn’t stop there. As always, we provide a place for people to respond, reflect, be educated, and even panic when necessary. This week, we’ll look at the ramifications of the latest settlement and help you chart a path forward.

Ready to make some noise?Join this week’s conversation pulse Opinion poll: What are the biggest challenges facing NAR’s proposed settlement?

While many in the industry expected NAR to eventually reach a settlement, Friday’s settlement news still surprised many.

NAR said it worked with plaintiffs in multiple lawsuits across the country to develop a series of reforms and pay $418 million in penalties to protect the organization and two-thirds of its members from multiple pending lawsuits. .

Accounts within and outside the industry vary, with some saying the NAR settlement will put downward pressure on commissions and home prices, and others focusing on the number of agents who will be forced out of the industry.

Additionally, much of the focus has been on who is excluded from the settlement, which includes more than 90 brokerage firms with more than $2 billion in residential transactions in 2022.

READ: Who’s Left Out: Brokerage Firms Not Covered in NAR Settlement Agreement

Of course, real estate agents are known for being social animals, with well-developed public-facing digital profiles. This has provided many people with the opportunity to use social media channels to explain, complain and correct what many believe to be media misinformation.

READ: Agents launch flood of complaints against TikTok after NAR settlement

As always, we’re hyper-focused on actual real-world reactions to the news. Through the Inman Contributor Program, we ensure you get immediate, down-to-earth insights to help you navigate every change coming, no matter how disruptive. You’ll also find agents and brokers like you asking the hard questions.

Here are some of the best news and tips we shared with you this week:

Real estate is in its Wild West era thanks to NAR settlements

Cross-Strait Brokers Amir’s way Outlines the issues, concerns, and frustrations inherent in NAR commission lawsuit settlement terms as attorneys learn to navigate new realities.

Read: NAR Settlement Could Disrupt Mortgage Partners Agency Program

5 Keys to Buyer Relationship Marketing After NAR Settlement

NAR’s $418 million settlement spells trouble for MLS. Now what?