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Lawsuit Logistics
NAR’s Legal Rollercoaster
Splits and Caps Daily: Action for Agents
October 3, 2024
📈 Market Move:
Katie’s Out, Settlements Are In
Katie Johnson, NAR’s legal MVP, is stepping down after 17 years of leading the charge on some of the organization’s biggest legal battles, like the $418M buyer agent commission lawsuits. As Johnson exits, more settlements are rolling in. John L. Scott and Real Estate One just reached agreements in the Gibson/Umpa class-action case, adding millions to a settlement fund that’s now topping $1B. With no successor named yet, all eyes are on Lesley Muchow to take the reins as NAR navigates these industry-shaking lawsuits and a period of serious transition.
Both brokerages—John L. Scott from the Pacific Northwest and Michigan-based Real Estate One—kept the details of their settlements quiet, but if they follow the pattern of earlier deals, the payouts will be hefty. With over 30 non-Realtor MLSs and brokerages also opting into NAR’s settlement, the industry’s legal landscape is undergoing a massive transformation. These moves, along with Johnson's exit, are reshaping the future of real estate in real-time. Buckle up.
🌟Quote of the Day:
"It does not matter how slowly you go, as long as you do not stop." — Confucius
⚡ Quick Win:
Batch Your Social Media Content: Set a 20-minute timer and create a week's worth of posts. Think property highlights, market tips, and a sprinkle of personal life. Consistency is key, and this hack keeps you visible without the daily scramble.
🎉 Fun Fact of the Day:
Mailbox Money, Literally: Did you know there’s a guy who built a mini real estate empire renting out mailboxes in New York City? No joke, some people pay thousands a year just for a prestigious address. No windows, no rooms—just a zip code flex.
📚 Book Recommendation:
“$100M Offers” by Alex Hormozi – If you want to learn how to create offers so irresistible that clients feel dumb saying no, this is your playbook. Hormozi’s taking you straight to the big leagues with this one.
Want to level up even more? Hit the Agent Bookshelf for top reads, Agent Articles for real estate gold, and Agent Resources for the tools to boost your biz—go get it!
Wrapping it up! Stay focused, stay bold, and remember—every day is another opportunity to write your own success story. Let’s crush it!
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