The National Association of Realtors (NAR) continues to face questions from the housing market over the association’s Clear Cooperation rule. This rule is at the centre of a current commission lawsuit that has been ongoing for more than a year. NAR CEO Bob Goldberg recently addressed the issue in response to questions from industry professionals.
The Clear Cooperation rule is a policy that was established in 2018 to promote transparency between real estate professionals, brokerages, and clients. It works to ensure that there is a unified approach to real estate business and provides guidelines for agents and brokers regarding the type of listing information that must be disclosed to the public. This rule has implications for the real estate industry in terms of commission pricing, listing formatting, and marketing techniques.
The most important elements of the text in bullet points:
• NAR’s Clear Cooperation rule
• Established in 2018 to promote transparency in the real estate industry
• Provides guidelines for agents and brokers
• Disclosure of listing information for public
• Implications for the real estate industry in terms of commission pricing, listing formatting, and marketing techniques
You can read this full article at: https://www.housingwire.com/articles/goldberg-back-on-stand-for-second-day-of-defense-testimony-in-commission-lawsuit-trial/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind.
Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal.
Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances.
While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.