Meet the Movers and Shakers of Real Estate: NAR Rules Shake Up Industry
Industry leaders reflect on the changes brought about by NAR's new settlement rules and touring agreements.
It's been over a year since the National Association of Realtors (NAR) implemented new settlement rules and required touring agreements, and the changes have certainly shaken up the real estate industry in more ways than one.
The new rules, which banned offers of compensation on the MLS and required touring agreements when working with prospects, have been met with mixed reactions from industry leaders. David Serle, CEO of Serle Realty, says that while the changes have forced agents to rethink their business relationships, they have also brought about a much-needed shift in the industry. Serle tells RISMedia, "The new rules have made us think more carefully about our relationships with clients and have ultimately improved the way we do business."
However, not all are happy with the changes. Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, believes that the new rules have created more confusion and have not been properly enforced. "There's still a lot of gray area and lack of clarity around these rules," Haggerty tells RISMedia. "We need more education and enforcement to truly see the impact of these changes."
Tim Quirk, CEO of Quirk Realty Group, echoes Haggerty's sentiments, stating that the changes have caused a lot of headaches for agents. "The new rules have added an extra layer of complexity to our already complicated job," says Quirk. "We're still trying to navigate through all the confusion."
Meanwhile, Tiffany Curry, broker associate at Berkshire Hathaway HomeServices, sees the changes as a positive step towards protecting both clients and agents. "The new rules have brought about a much-needed shift towards transparency and accountability in the