We wanted to bring you up to speed on the recent developments in the Burnett v. NAR, et al. case, where a Missouri jury has reached a verdict. Here are some insights and resources that may prove helpful in navigating the current landscape:
1. Ongoing Legal Proceedings:
The legal proceedings continue, as the National Association of REALTORS® (NAR) and the named defendants, despite not prevailing at the district court level, are pursuing an appeal. NAR maintains confidence in a robust legal foundation for this appeal.
2. Business Continuity:
For your business, it remains 'business as usual.' New Jersey, among approximately 13 other states, already incorporates buyer agency into its legal framework. The NJR Forms library, including the Buyer Agency Agreement, ensures transparency and formalizes your professional relationships. Resources are available to help articulate your value as a buyer’s agent.
3. Maintaining Professional Composure:
While acknowledging the disappointment that may accompany the verdict, it is imperative to maintain professional composure. Equipping yourself with the facts will enable you to effectively communicate the substantial value you bring to real estate transactions, fostering understanding with your clients.
4. NCJAR as Your Supportive Partner:
NCJAR remains steadfast in being your unwavering partner through challenges and successes. As the industry evolves, so does our commitment to providing information, expertise, resources, programs, products, services, and a network of 16,000 Realtors® to support your professional endeavors. Anticipate forthcoming programs and resources, including our upcoming webinar on “NAR Lawsuit Insights & Next Steps for Your Business” on Monday, November 20th at 10AM-12PM.
5. Leveraging NCJAR Resources:
We encourage you to make use of the available resources as a valued member of NCJAR:
- NAR Statement on the Verdict
- Competition.Realtor
- RealEstateCommissionFacts.com
- The Realtor® Difference: How to Communicate Your Value
- 179 Ways Agents are Worth Every Penny
Your continued membership is highly valued, and we are committed to providing unwavering support to ensure your success in the real estate industry.
For questions and concerns, please contact us at 973-425-0110 or
