The news continues to go from bad to worse for the National Association of Realtors. Following the shocking news that Redfin has left its leadership post at the Association and is calling on its agents to do the same, Anywhere and RE/MAX have announced changes to their respective affiliations as well.
Anywhere has said in a statement that its company-owned brokerages and agents could cut ties with NAR. RE/MAX has also said that its brokerages can now decide for themselves whether they join the Association. Both announcements come as the brokerages announce their respective business practice changes amid legal settlements in the class-action commission lawsuits.
What is unclear is whether agents who opt out of NAR will still have access to local multiple listings services.
“I am pleased that Anywhere has reached a nationwide settlement with the plaintiffs in the Burnett and Moehrl cases,” Ryan Schneider, Anywhere chief executive officer and president, said in the statement. “We believe this is the right course of action to remove future uncertainty and ongoing legal expense, serving the best interests of the company, our affiliated agents and franchisees, and shareholders, and enabling Anywhere to focus on moving real estate to what’s next.”
Both settlement agreements are subject to court approval, with final approval sometime next year. As part of the settlement, RE/MAX will pay $55 million into a settlement fund.
NAR has not responded to the proposed business practice changes at Redfin, Anywhere or RE/MAX.