Where Real Estate Gets Its Dirt

RE/MAX Settles…2 down 3 to go?

RE/MAX settles buyer broker commission lawsuits for $55 million

“The Settlement resolves all claims in the Lawsuits and similar claims on a nationwide basis against RE/MAX … and releases RE/MAX and the Company, their subsidiaries and affiliates, and RE/MAX sub-franchisors, franchisees and their sales associates in the United States from the Claims,” the SEC filing reads.

“By the terms of the Settlement, RE/MAX agreed to pay a total settlement amount of $55.0 million … into a qualified settlement fund. In addition, RE/MAX agreed to make certain changes to its business practices.”

Brooklee Han for Housing Wire

Once again, if I’m proven right about the lawsuits being settled, I’m going to be unbearable. 😈

NAR Executive Committee stands by NAR staff, including Goldberg

NAR throws support behind Bob Goldberg in face of growing unrest

“The consensus among the Executive Committee is we need to rebuild trust with staff and members with meaningful change,” she added. “We are bringing in third party experts to carefully and comprehensively look at what we’re doing now for what works, what needs to be changed and what is missing. We also will support and empower staff in their similar efforts. The Executive Committee agreed we have a shared purpose and are united in support of our staff and that includes Bob.”

Marian McPherson for Inman News

Everybody just breathe.

The Pickle

Lots of chatter out there on the after math of the New York Times expose on Kenny Parcell’s alleged sexual harassment.  Brad Inman is reporting that there’s a big meeting being held of NAR’s executive leadership today regarding next steps. The knives are out. Some knives are from members, some from past leadership/staff who are looking for revenge. Some are even speculating that Bob Goldberg and Katie Johnson may be asked to resign.

I’m not sure I agree with those looking for more blood.  Things are more complicated than they may appear.

Case in point, is there a policy that states NAR leadership can’t have relationships with staffers? Apparently there is a policy that NAR staffers cannot.  In this scenario if Kenny cheated on his wife with a NAR staffer, he may have not violated a NAR policy.  Now you would think that someone in that position would resign.  Optics, code of ethics, be beyond reproach, and such, whether it’s violating a direct policy or not.  I think most people hold our leaders to higher standard.  We’d rather not have them cheat on their wives, pay off porn stars, or have their children profit from their position.  But I digress.

But, what is the staff’s role in this, if the leader doesn’t resign?  They can’t fire them.  My understanding is the president is the leader of the organization and is the over the staff in regard to chain of command.  In fact I’m sure the president can direct the staff to hire attorneys to help defend themselves to keep their position.

The staff is caught in a classic pickle.

Obviously many of us (including me), don’t know what we don’t know. And I may be wrong in my assumptions. But, in my opinion it would be a shame to see the careers of two dedicated leaders cut short due to the stress behind one man’s belt buckle. Which is another pickle altogether.

IYKYK

via GIPHY

Don’t shit where you eat

How it started…

President of Powerful Realtors Group Is Accused of Sexual Harassment

“Ms. Brevard, 51, was fired in September 2022 for failing to disclose her relationship with Mr. Parcell, according to the lawsuit she filed in federal court in Washington, D.C., in June.

She had worked at N.A.R. as what was called its “chief storyteller” and handled the group’s podcasts, videos and much of its marketing materials from 2019 to 2022. According to her complaint, she had a monthslong sexual relationship with Mr. Parcell. After she ended it, Mr. Parcell continued to press her with unwanted advances, saw to it that she was excluded from meetings and business trips and told her that he would have her fired, the lawsuit claimed”

Debra Kamin reporting for the New York Times

How’s it going…

NAR President Kenny Parcell resigns after NYT exposé

“The calls for Parcell’s resignation intensified over the weekend, as a growing number of industry leaders called on NAR to hold Parcell accountable for his actions. Anywhere Brands President and CEO Sue Yannaccone was one of the first high-ranking brokerage leaders to make a statement, with her Monday LinkedIn post garnering increasing attention throughout Monday afternoon.

“I was very disturbed to read The New York Times report on the brazen attitudes and alleged behaviors of leaders at the National Association of Realtors,” Yannaccone said. “Given our predominantly female industry, I am incredibly disappointed by the reporter’s allegations as NAR is supposed to be a guidepost for our industry.”

Marian McPherson reporting for Inman News

The Times article was a bit of a head scratcher for me. In my opinion, after thinking about it for the last couple days, and talking to people it’s amazing to me this clown didn’t resign when he was first caught in a sexual relationship with a staffer. This guys outsized ego just sullied a lot of people’s good reputation and future prospects.

CoStar to purchase Realtor.com?

News Corp in Talks to Sell Real Estate Site For $3 Billion

“Rupert Murdoch’s News Corp. is in talks to sell its Move Inc. online real estate business to CoStar Group Inc.

Move is the parent of Realtor.com and other real estate-related websites. The deal is worth about $3 billion, according to people familiar with the matter, who asked not to be identified because the discussions are private. The sale could be announced within days, one of the people said.”

After CoStar announced at a recent earnings call they had raised $750M for future acquistions Rob and I on our Industry Relations podcast tried to guess what they would scoop up. I thought we had a pretty good guess with Matterport. Matterport had recently bought VHT Studios. So we thought it would give them some killer IP and a network of photographers. Turns out Zillow took the bait and purchased VRX, and CoStar had bigger fish in mind. Although $3 billion isn’t that much money for CoStar, remember they bid $7 billion for CoreLogic.

Brings up a few questions. Will NAR approve? Or do they even have the say? If NAR was cool with handing the reins to Rupert Murdoch, then Andy Florance seems like a Boy Scout.

What about Homes.com? I’ve been wondering when the new website would be launched, and they recently had a big round of layofffs. Maybe Andy realized that it would take a hell of lot more money to get Homes.com (a distant #3) to compete with Zillow than it would take #2, realtor.com. And the whole “your listing, your lead” actually might play better under the realtor.com umbrella.

Your move Nestfully.

NAR Midyear to go virtual

via GIPHY

NAR to Deliver Virtual Solutions for 2020 REALTORS® Legislative Meetings and Trade Expo

“We are all watching the development of the coronavirus pandemic with uncertainty and serious concern.
On behalf of the NAR Leadership Team, CEO Bob Goldberg, and the NAR staff, your well-being and your business are of paramount importance to us at this unprecedented time.


Due to recent restrictions and recommendations implemented by the federal and Washington, D.C. governments, NAR will deliver previously-planned programming and committee meetings virtually.

With the Centers for Disease Control issuing guidance limiting discretionary travel and gatherings of more than 10 people for the next eight weeks, and Washington, D.C. also instituting a state of emergency to limit the spread of COVID-19, we will no longer hold the 2020 REALTORS® Legislative Meetings and Trade Expo in person from May 11-16 in Washington, D.C.

Had to happen, but still….

NAR to make a decision on possible postponement of Midyear Legislative Meetings by April 1st

Statement on NAR 2020 REALTORS® Legislative Meetings & Trade Expo and the Coronavirus

“As concerns over the coronavirus continue, many of our members have inquired about the status of the NAR 2020 REALTORS Legislative Meetings & Trade Expo (RLMTE), currently scheduled to occur May 11-16 in Washington, DC. Today, the NAR Leadership Team announced that a final decision regarding the possible postponement or use of virtual options for RLMTE will be made on or before April 1, 2020.

The safety and well-being of our members, staff, and partner organizations remains our top priority, and the Leadership Team recognizes the virus’s impact on large gatherings and events.”

Shit just got real yo.

The REALTOR of the future

Watch This Weird ’90s NAR Video of REALTORS® In the Future

“So how exactly did this wacky artifact come to fruition? According to Hathaway Hester, manager of the association archives, the theme of the 1990 town hall meeting was “The Broker’s Office in the Year 2000,” and the futuristic video served as an introduction to the proceedings. The entire thing was filmed and made available to members through NAR’s mail-order service, which was a precursor to today’s REALTOR® Store. It was advertised throughout 1990, then disappeared from the radar until it was digitized and posted online in 2008, the year of NAR’s centennial, Hester says. Over the years, the short video has caught the interest of external publications wanting to highlight the video’s amazing ’90s cheesiness.”

Oh man. This is so fun.

Also, think about this, if the movie Back To The Future was made today, Marty would be going back to the 90s. ????

Coverage

Looks like my hashtag, “#PutItOnTheMLS”, which first appeared here, got some love on the cover of the latest issue of REALTOR Magazine.

It’s not the cover of the Rolling Stone, but I’m surprised how much this made me smile.

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