On Monday I talked about the big brokerages coming together to sue NAR for the terrible job they did in looking out for our best interests.
Nothing else happened this week, but the CAR must have heard something:
“Every June, C.A.R. issues new and modified standard forms. This year, of the 67 new and revised forms to be released on June 25, there are 21 of them that are related to the changes in business practices required by the NAR settlement. I am writing to inform you that C.A.R. is postponing the release of those 21 forms.
C.A.R. is continuing to review not just the NAR settlement but also Department of Justice (DOJ) statements to the industry, as well as feedback from our members, and this decision is being made from an abundance of caution. C.A.R. has received a formal inquiry about these forms from the DOJ, and the organization requires additional time to consider the DOJ’s concerns.”
Being the author of our forms and contracts, The California Association of Realtors is at risk of being blamed for the conspiracy.
But this is America, so everything should be litigated for years. Buyers can probably quit worrying about having to pay their own realtor, because the market will flatten out just enough that sellers will be happy to pay a couple of points to make the deal.
