Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate.
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The failure of NAR and the large brokerages to present a winning argument in these lawsuits is only going to lead to future problems for financing, cooperative selling, and negotiating. When the market shifts and it will, so will the attitudes. These practices were well-known within the states where these lawsuits are taking place. I am a bit surprised the attorneys aren’t waging war against the Department of State, which oversees licensing and the laws. The fact that the States were allowing the practice should give some credence to how business was conducted. When the buyer’s market comes along, sellers will throw all sorts of motivational dollars for the buyer to buy their home and will be glad to dismiss the salivating lawyers at their doorstep. Let it go – this system has been working for buyers and sellers for decades through both – buyer and seller markets. We have become a weak nation at the hands of a crying few; victimhood is taking over America’s mindset. People identify with it and demand to be made whole by who or what made them feel that way.