In Defense of REALTORS®: The Phillips Report Spotlights Industry Realities

...the allegations leveled against the National Association of REALTORS® (NAR) and the multiple issues raised about the U.S. real estate industry’s structure can be seen in a different light when we consider the evidence and context provided in this discussion.

Notably, attempts to compare U.S. real estate practices with those of foreign markets, such as the claims presented in The Danger Report, fall short when considering the unique dynamics and complexities of the U.S. market. The U.S. real estate industry is more technologically advanced and has a more diversified agent base. Comparisons to foreign markets that fail to acknowledge these differences are overly simplistic and potentially misleading.

Significant proof of the pro-consumer nature of the Multiple Listing Service (MLS) systems can be seen in the staggering number of monthly visitors to affiliated websites. With an estimated 400 million unique monthly visitors, it is clear that millions of consumers rely on these platforms and the REALTORS® linked to them for property information and guidance on market trends. This considerable engagement contradicts the narrative that the current commission structure lacks consumer benefit…

…Furthermore, the deliberate misinformation to consumers by the coalition of discount brokerages, which spurred legal and regulatory responses, raises serious doubts about their integrity and authenticity. The Consumer Federation of America (CFA), given its financial gains from cypres awards, puts its objectivity into question. The vested financial interests of the CFA seriously impinge on the credibility of its pronouncements and research findings…

FULL TEXT: In defense of REALTORS®: The Phillips Report spotlights industry realities—The American Genius

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