In an attempt to provide more transparency and autonomy to customers in the home buying process, real estate technology company Redfin has decided to require its agents to leave membership in the National Association of Realtors (NAR) in markets where possible.
The NAR is a large trade organization that counts many real estate agents and brokers as members. However, the organization has been accused of being an “exclusive club” which often works against the interests of those whom it represents. NAR has also received criticism for failing to impose transparency in their transactions and making it difficult for customers to make informed decisions.
Redfin believes that its decision to require agents to leave the NAR will ultimately benefit their customers by creating transparency and clarity in the home buying process. In the letter, Redfin states that their agents are required to be transparent about all services they provide and will receive no commission for services that they do not perform. They also pledge that all agent expenses will be transparently reported to customers.
Redfin’s initiative to require agents to leave NAR in places where it is possible aims to increase transparency and autonomy for their customers. These goals are accomplished by setting standards for agents to provide transparency regarding services provided, commission received, and all agent expenses and activities. Furthermore, customers are allowed to make informed decisions by having access to all the necessary data.
You can read this full article at: https://www.housingwire.com/articles/redfin-breaks-with-nar-in-wake-of-sexual-harassment-allegations/(subscription required)
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