Q. Where should I go to get accurate and reliable information about the upcoming practice changes in our industry following the proposed NAR settlement in Sitzer/Burnett case?
You should be very intentional about seeking trusted and accurate sources to educate yourself and to obtain information related to the settlements and the upcoming practice changes for your brokerages.
You should start by checking REALTOR® information sources:
- NAR information at facts.realtor
- Illinois REALTORS® information at NAR litigation and settlement information
- Local Associations where your local board posts its settlement updates and links
You should check out trusted industry-related media resources, including verified real estate expert publications, podcasts, sessions, etc. to educate yourself about the general landscape of what is allowed and what is prohibited.
Q. How should I make business decisions about my brokerage practice and comply with the settlement practice changes?
When you are deciding what is best for your business, while operating under the new guidelines, be sure you consult with the leadership in your individual company for the practices that will work best for your own business and your own company as it competes in the marketplace. Discussions about individual company decisions and practices must stay within your company, where your own attorneys/advisors can help you make independent business decisions about what business models are best for your practice and for you to be productive and competitive.
You must avoid discussing specific business practices, business models and pricing decisions with your competitors. This includes in online forums and through social media.
