CFA Lays an Egg
December 13, 2006 -- This morning’s news conference on discount brokerage in the real estate industry drew only three journalists, one of whom works for a tiny Internet news service. Five brokers -- three of whom are REALTORS® -- participated in the event to complain about their treatment by full-service firms.
Because some comments misrepresented NAR's position, we issued the following statement:
“As everyone who has bought or sold a home knows, real estate brokerage is fiercely competitive. Consumers can choose from more than 1.3 million REALTORS® today, including those who work for discount, limited service, or minimal service brokerages. In fact, about one out of every eight members of NAR work for these kinds of firms.
“NAR’s policies foster the interests of all REALTORS® and real estate consumers. We support all business models and favor none.”
