Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

How Biden’s Neighborhood Homes proposal impacts real estate investors

Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.

Real Estate

Is NAR ready to rumble with DOJ?

The Justice Dept. dropped the gloves, withdrawing from an antitrust settlement with the real estate trade group. But a “blindsided” NAR has yet to punch back.

HW-DOJ-1

Lisa Dunn was on her way to the American Automobile Association headquarters in Mission Viejo, California when her phone started blowing up. It was July 1, and the U.S. Department of Justice had just fired off a press release saying it withdrew from an antitrust settlement hammered out last November with the National Association of Realtors (NAR), the trade group that represents the vast majority of U.S. real estate agents and spends more annually on lobbying the federal government than any organization in the country.

“The Department is taking this action to permit a broader investigation of NAR’s rules and conduct to proceed without restriction,” the release declared. The DOJ also repeatedly mentioned commission costs, noting Americans “paid over $85 billion in residential real estate commissions last year.”

The founder of Laurel Real Estate and a veteran Orange County agent, Dunn is also part of NAR’s board of directors.

“People thought, ‘Oh, Lisa will know what to do,’” Dunn recalled.

But Dunn didn’t know, not even after an hour-and-a-half chat on Clubhouse later that night with concerned agents. She couldn’t advise other agents because NAR was not advising her. “They were relatively tight-lipped,” Dunn said of the trade group.

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