"The issues the working group examined were what they feel is the inadequacy of the Clear Cooperation Policy (CCP), the legal risks imposed by the three-way Realtor membership agreement, the need for more transparency surrounding NAR's restructuring plan, an increased need for independent governance, what they perceive is NAR's bloated balance sheet, which they feel makes it a potential target for lawsuits, and for the disclosure of NAR's financial interests in Second Century Ventures and how this NAR subsidiary benefits NAR members."
"As we work to make NAR more transparent and member-centric, we welcome any questions about the association and its practices, a NAR spokesperson wrote in an email. Hearing questions from members and leaders from across the industry provides us the opportunity to educate our stakeholders on how trade associations are structured, how NAR operates, and how we are developing NAR's strategic plan that will enhance how NAR serves its members, the industry, and consumers for generations to come."
A working group seeks to collaborate with NAR to remake the organization to better serve members and improve return on member dues. Group members expressed unhappiness with NAR, citing handling of commission lawsuits and perceptions that NAR may not have members' best interests at heart. The working group met with NAR leaders via Zoom and in person, and sent a detailed list of questions, demands and suggested actions to NAR's CEO requesting feedback. The group examined CCP adequacy, legal risks from the three-way membership agreement, restructuring transparency, independent governance needs, balance-sheet concerns, and disclosure of Second Century Ventures interests. NAR says it has solicited feedback from leaders and members and welcomes questions.
Read at www.housingwire.com
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