Association News

The U.S. Secret Service has informed the National Association of REALTORS® about a new cryptocurrency scam targeting real estate professionals, some of whom have lost a significant amount of money.

The housing industry, along with the dedicated professionals who serve residential and commercial property buyers and sellers, constitutes nearly 20 percent of the U.S. economy. In 2023, the real estate industry alone accounted for a staggering $4.9 trillion, comprising 17.8% of the gross state product (GSP) nationwide. This isn't just about numbers—it's a testament to the foundational role real estate plays in our economic landscape.

This morning, the National Association of REALTORS® reached a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned Multiple Listing Services (MLSs), and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. The settlement is subject to court approval. More details below. 

Recently, a Missouri jury reached a verdict in the Burnett v. NAR, et al. case. News of this large and sweeping class action lawsuit verdict, which held NAR and several brokerages liable in a Federal Missouri Court Room, has many asking valid questions about the future of the real estate industry and how compensation will work going forward. Let’s take a moment to get perspective on where the industry is and point out some industry provided resources.

Today, we learned the outcome of the Burnett v. NAR et al case and you may have already read updates from various news outlets. Below, you will find a statement from NAR President Tracy Kasper as well as common questions you may have with answers provided by NAR.

The Volunteer State grew in population by 1.7% between 2020-2022--eclipsing 7 million residents, according to new U.S. Census Bureau data. While the state saw an overall increase in population growth, Middle Tennessee is the dominant force with seven Nashville-area counties ranked in the top 10 for raw population gains in the state last year, according to a University of Tennessee analysis.

In recent months, there has been an alarming increase in incidents all across the country involving the listing and sale of vacant land and properties that are free of mortgage liens. These scams involve bad actors posing as owners of these vacant lots or properties. REALTORS® in the Greater Nashville area have recently seen this issue locally. 

WASHINGTON (November 16, 2021) – Leslie Rouda Smith was installed as 2022 president of the National Association of Realtors® during the 2021 REALTORS® Conference & Expo.