Disclaimer: Opinions expressed in this episode and written below are solely opinions of the hosts, guests, and writers and do not reflect the views of BiggerPockets.
Is it about to get even worse for NAR (National Association of Realtors)? After a ground-breaking agent commission lawsuit settlement forced the organization to pay out hundreds of millions, NAR has been on thin ice. They had just come off of a massive change in leadership, with some executives facing sexual harassment accusations, only to have the spotlight put on them once again. But it’s not over.
A new investigative piece from The New York Times reporter Debra Kamin uncovers a web of hidden donations to political groups that many NAR members aren’t aware of. NAR, the largest lobbyist group in the country, is well-known for donating to political causes that benefit their industry. However, it seems those donations heavily lean to one side of the political spectrum.
So, is this a problem? Could it even be illegal? Debra reveals that many of these donations go to groups unrelated to real estate, leaving some members frustrated with how their dues are being spent. Could this be the final blow to NAR, paving the way for more competition among real estate agent organizations? Debra is on to break the story.
Debra:
That’s the million dollar question, or as I would say the 1.5 million member question is any of this illegal.
Dave:
The National Association of Realtors or a R has been under intense scrutiny over the course of the last few years between a lawsuit around commission rates and allegations of sexual harassment. Now, new investigative reporting from the New York Times reveals some details about NA’s finances. And this new story has made me curious about what all of this news means for NAR. It’s the biggest trade organization in our industry, and they’re going through a lot of change and a lot of scrutiny. Is a R doing anything illegal? Is this impacting investors, agents and home buyers…