Industry News
The classification of REALTORS® as "independent contractors" is a common practice among brokerages, with about 89% of National Association of REALTORS® (NAR) members falling under this category. However, this status has recently faced increased scrutiny due to lawsuits and proposed federal legislation. A recent case in New Jersey, however, may have set a significant precedent for the industry.
In a landmark decision, the New Jersey Supreme Court ruled in favor of maintaining the independent contractor status for real estate agents, thanks to advocacy efforts by New Jersey REALTORS® and support from NAR. This ruling stemmed from a 2019 lawsuit where a Weichert Co. sales associate claimed misclassification as an independent contractor, alleging unlawful deductions from commissions due to this status.
Second Century Ventures, the strategic investment arm of the National Association of Realtors®, has announced the selection of eight companies for the second annual REACH Latin America (LATAM) cohort. These companies will join a prestigious portfolio of over 250 technology firms across six major markets worldwide.
The acclaimed REACH program is renowned for its role in launching and accelerating companies with high-growth potential across sectors such as real estate, construction, financial services, banking, home services, and insurance.
CHICAGO (March 5, 2024) – Second Century Ventures, the National Association of Realtors®' strategic investment arm, announced the opening of applications for its 2024 REACH Commercial technology growth program. As the world's most active venture fund in the realm of real estate technology, Second Century Ventures conducts the prestigious REACH program across various regions including North and South America, Europe, Australia, and the Asia-Pacific area.
The 2024 REALTORS® Legislative Meetings are scheduled for May 4-9, 2024, in Washington D.C. Registration will open Wednesday, February 14th at 1 p.m. EST. Based on high demand for registration and housing, NAR is introducing a courtesy queue for a more effective registration process. This queue acts as a first-come, first-serve virtual line. The feature will be in place only for the first day of registration. Learn more about the queue.