Industry leaders are warning that if a settlement is approved, real estate agents will encounter significant changes in their practices. Key points to consider include:
– More negotiations: Agents will likely engage in increased negotiations with clients and other industry professionals as a result of the settlement.
– Setting list prices: There may be new regulations on how agents set list prices for properties, leading to potential adjustments in pricing strategies.
– Fair housing violations: With an increased possibility of fair housing violations, agents will need to be vigilant in ensuring they comply with all regulations to avoid legal issues.
Overall, the industry is anticipating a shift in the way real estate agents operate if the settlement is finalized. Agents will need to be prepared for these changes and adapt their practices accordingly to navigate potential challenges successfully.
You can read this full article at: https://www.housingwire.com/articles/panic-at-the-brokerage-industry-leaders-plan-next-steps-after-nar-settlement/(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.
