It appeared that Realtors had won the battle on Thursday, but the war rages on as MIBOR defers the decision back to the committee and the NAR agrees. The issue will not be heard again until November.
Will stalling the issue work?
So, MIBOR ties the issue up in committee, thus leaving agents to dangle in the wind during a recession. Unfortunately, the only hope for agents may in fact be the DOJ (as it has been proposed by several brokers/agents) or even a class action lawsuit- will the revolution in real estate actually come from within?
It appears so, as the issue of limiting competition within the industry is becoming more and more prevalent. A recent backlash result was the broker of Sky Realty Austin, Curtis Reddehase taking a stand by withholding his MLS feeds from media sites and calling on all agents and brokers to do the same, while other brokers are beginning to follow suit.
As members feel more and more disenfranchised and unrepresented within the NAR, are we reaching a tipping point?