Kevin Sears

National Association Of Realtors Reaches $418M Deal That Changes Compensation

Posted on by TMN Editor
The National Association of Realtors has agreed to pay $418 million to settle broker commission claims brought on behalf of home sellers. Under the terms of the agreement, NAR continues to deny any wrongdoing in connection with the Multiple Listing Service cooperative compensation model rule. They will pay the multi-million sum over the course of approximately four years, according to a press release. Although cooperative compensation remains a choice for consumers when buying or selling a home, NAR has agreed to put into place a new rule prohibiting offers of broker compensation on the MLS. Instead, sellers will be expected to negotiate with real estate professionals. MLS participants working with buyers will be required to enter into written agreements with…

Blackmail Threat Leads To Resignation Of NAR President

Posted on by TMN Editor
By KIMBERLEY HAAS The president of the National Association of Realtors has stepped down after allegedly receiving a threat to disclose a past personal matter. Tracy Kasper reported the threat to law enforcement and informed NAR’s Leadership Team. The threat involved a non-financial matter, according to a press release. “As president and a long-time member of NAR, I always have put the interests of NAR first. As a result of the recent threat and given the significance of this moment for myself, my family, and the organization, it is again time for me to put the interests of NAR first. So, it is with a mix of gratitude and a heavy heart that I submit my resignation as your president…