This joint statement, issued by the Long Island Board of REALTORS®, the Hudson Gateway Association of REALTORS®, and OneKey® MLS, was originally emailed to members on Thursday, November 2nd.
As you have no doubt learned, after an 11-day trial in the case of Burnett v. NAR et al, a jury found the National Association of REALTORS® and other corporate defendants liable in a class action lawsuit filed in Missouri. NAR has publicly stated it intends to appeal the ruling and that the legal matters are not close to final.
Many of you may have questions about what this means for REALTORS® and for LIBOR, OneKey® MLS, and HGAR. As NAR’s President, Tracy Kasper, said in an update to NAR membership, there is nothing that REALTORS®, brokers, state/local associations or MLSs need to do differently because of this verdict. Your LIBOR/OneKey®/HGAR team will continue to provide the same excellent service and support to our members we always do.
The full extent of the impact regarding the Missouri lawsuit involving the National Association of REALTORS® remains to be seen. While there may be changes in the future about the way the industry operates on a national level, LIBOR, OneKey® MLS, and HGAR have and continue to stress to its members that they should always explain to consumers that commissions are negotiable and set between brokers and their clients, and how our local MLS broker marketplace promotes equity, transparency and market-driven pricing for consumers. LIBOR/OneKey®/HGAR will remain at the forefront of industry trends and serve as top-tier resources for our REALTOR® members to grow and succeed, providing them with the tools to serve their clients and communities with dedication and professionalism.
We remain committed to you and your success and to staying on the leading edge of positive change in our industry.
Doreen Spagnuolo, CEO LIBOR
Richard Haggerty, CEO OneKey® MLS
Lynda Fernandez, CEO HGAR