There are a number of reasons why brokerage companies are leaving the NAR. One reason is that the NAR is seen as too focused on protecting the interests of its members at the expense of consumers. For example, the NAR has opposed changes in the real estate industry, such as the rise of online real estate platforms.
Another reason why brokerage companies are leaving the NAR is that the NAR's dues are high. The NAR charges its members a variety of fees, including a membership fee, a transaction fee, and a technology fee. Some brokerage companies believe that these fees are too high and that they do not provide enough value to their members.
Finally, some brokerage companies are leaving the NAR because they disagree with the NAR's policies. For example, the NAR has been criticized for its opposition to fair housing laws and for its lobbying efforts to protect the interests of real estate agents and brokers.
Which Brokerage Companies Have Left the NAR?
A number of large brokerage companies have left the NAR in recent years, including:
Century 21 Real Estate
Coldwell Banker
ERA
Sotheby's International Realty
Re/Max
Redfin
These companies represent a significant portion of the real estate market. For example, Redfin is one of the largest real estate brokerages in the United States, and Zillow and Trulia are two of the most popular real estate websites.
Pros and Cons of Brokerage Companies Leaving the NAR
There are both pros and cons to brokerage companies leaving the NAR.
Pros
Lower costs for consumers: Brokerage companies that are not members of the NAR may be able to offer lower fees to consumers.
More competition: The exodus of brokerage companies from the NAR could lead to more competition in the real estate industry. This could benefit consumers by lowering prices and improving services.
Innovation: Brokerage companies that are not members of the NAR may be more likely to innovate and offer new services to consumers.
Cons
Less influence: Brokerage companies that are not members of the NAR will have less influence on the real estate industry. This could make it more difficult for these companies to advocate for consumers and to promote changes in the industry.
Less access to resources: Brokerage companies that are not members of the NAR may not have access to the same resources as brokerage companies that are members of the NAR. This could include resources such as training, education, and research.
Less transparency: Brokerage companies that are not members of the NAR may be less transparent about their practices. This could make it more difficult for consumers to compare different brokerage companies and to choose the best brokerage company for their needs.
The Future of Real Estate
The exodus of brokerage companies from the NAR is a sign that the real estate industry is changing. The NAR is a powerful trade organization, but it is facing growing competition from new online real estate platforms and from real estate brokerages that are not members of the NAR.
It is too early to say what the long-term impact of this exodus will be. However, it is clear that the real estate industry is changing, and the NAR is no longer the monolithic force that it once was.
In the future, it is likely that we will see more and more brokerage companies leaving the NAR. This will lead to more competition in the real estate industry, which could benefit consumers by lowering prices and improving services. It is also likely that we will see more innovation in the real estate industry, as brokerage companies that are not members of the NAR are less likely to be bound by the NAR's rules and regulations.
However, there are also some potential downsides to brokerage companies leaving the NAR. For example, brokerage companies that are not members of the NAR may have less influence on the real estate industry. This could make it more difficult for these companies to advocate for consumers and to promote changes in the industry. Additionally, brokerage companies that are not members of the NAR may not have access to the same resources as brokerage companies that are members of the NAR. This could include resources such as training, education, and research. Finally, brokerage companies that are not members of the NAR may be less transparent about their practices. This could make it more difficult for consumers to compare different brokerage companies and to choose the best brokerage company for their needs.
Overall, the exodus of brokerage companies from the NAR is a positive development for consumers. It is likely to lead to more competition in the real estate industry, which could benefit consumers by lowering prices and improving services. It is also likely to lead to more innovation in the real estate industry, as brokerage companies that are not members of the NAR are less likely to be bound by the NAR's rules and regulations.
However, it is important to note that there are also some potential downsides to brokerage companies leaving the NAR. For example, brokerage companies that are not members of the NAR may have less influence on the real estate industry. This could make it more difficult for these companies to advocate for consumers and to promote changes in the industry.
Additionally, brokerage companies that are not members of the NAR may not have access to the same resources as brokerage companies that are members of the NAR. This could include resources such as training, education, and research. Finally, brokerage companies that are not members of the NAR may be less transparent about their practices. This could make it more difficult for consumers to compare different brokerage companies and to choose the best brokerage company for their needs.
Overall, the exodus of brokerage companies from the NAR is a sign of the changing real estate landscape. It is too early to say what the long-term impact of this exodus will be, but it is clear that consumers will be the beneficiaries of this competition.
Recommendations for Consumers
If you are considering buying or selling a home, it is important to do your research and to choose a brokerage company that is right for you. Here are a few recommendations:
Ask for recommendations from friends, family, and coworkers.
Read online reviews of different brokerage companies.
Compare the fees and services of different brokerage companies.
Interview different brokerage agents before making a decision.
It is also important to be aware of the potential downsides of brokerage companies leaving the NAR. For example, you may want to choose a brokerage company that is a member of the NAR if you are concerned about having a voice in the real estate industry or if you need access to the NAR's resources.
Ultimately, the best way to choose a brokerage company is to consider your individual needs and preferences.
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