"The reasons we are going public now is because we realized that change is not going to happen fast enough or be substantial enough if we do not keep the pressure on, Duffy said. We are doing this for every agent in the industry, we don't care what brand they are from, the industry as a whole needs NAR to make changes."
"The issues the group has identified include the potential legal exposure caused by the Clear Cooperation Policy (CCP) in its current form, 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 as 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."
Pro-Agent Restore Trust in NAR Working Group formed in April 2025 after disgruntled large brokers left out of a $418 million commission lawsuit settlement met to air grievances. The group went public because change within NAR was judged too slow and insufficient without outside pressure. The group has held multiple meetings with NAR via Zoom and in person while identifying six priority issues. The group cites financial damage to companies from the commission lawsuits and reputational harm to agents. Key issues include CCP legal exposure, three-way Realtor membership agreement risks, restructuring transparency, independent governance, NAR's balance sheet, and disclosure of Second Century Ventures interests.
#nar-reform #clear-cooperation-policy-ccp #realtor-membership-agreement #financial-transparency #governance
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