News
The Truth About the NAR Settlement Agreement
The settlement achieves two important goals: protecting members to the greatest extent possible and preserving consumer choice.
NY Regional Single-Family Home Price Posted Double-Digit Gain in February; Pending Sales for Condos, Co-Ops Rose Sharply
There were 426 closed sales transactions and 610 pending sales transactions reported for condos in February 2024, representing a 12.4% increase in closed sales transactions and a 23.0% increase in pending sales transactions.
2023 Wall Street Average Bonus for NYC’s Securities Industry Workers was $176,500
The $33.8-billion bonus pool for 2023, which closely matched the 2022 pool, was well below the 25% growth seen in 2020 ($37.1 billion).
NAR Claps Back on 6% Commission Requirement Reports, Corrects the Record by Stating NAR Does Not Set Commissions
The listing broker retains the right to determine the amount of compensation offered to subagents, buyer agents, or to brokers acting in other agency or nonagency capacities, which may be the same or different.”
NAR President Sears Says ‘Settlement Represents a Pivotal Moment for Our Association and Our Industry’
In the settlement, we have agreed to require MLS participants working with buyers to enter into written representation agreements with their buyers. This change will go into effect in mid-July 2024.
BREAKING NEWS: NAR Reaches $418-Million Agreement to Settle Most Broker-Commission Cases; Agrees to Commission Rule Changes
In addition to the financial payment, NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS.
SPOTLIGHT ON: Matthew Gibbs
“Our goal is to increase our CID membership and we hope to have at least 200 members by the end of next year.”
HGAR Officials Brief Orange County Members on Market and Legal Trends
HGAR’s Fernandez reported to the more than 60 attendees that the association will release its latest Strategic Plan soon and asked that all members fill out their Member Engagement Profiles.
Understanding DEI by Looking at the Subway Door in Berlin, Germany
When we start talking about quotas, or taking from one and giving to another, we’ve lost sight of what true diversity, equity, and inclusion means.
Fed. Reserve Bank of New York: Inflation Expectations Increased at the Medium and Longer-Term Horizons in February
Median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.
NAR’s Yun Predicts Four to Six Rate Cuts in Next Two Years; Continued Troubles for Office Market
A key data point will be the CPI reaching its 2% target. The latest CPI number for February was 3.1%.
In Memoriam: Former Rockland County Board of Realtors President Bill Thorne
Thorne was the first black elected President of RCBR and was one of the key officials involved in the merger of RCBR and the Orange County Association of Realtors with the Westchester-Putnam Association of Realtors.