I got this brilliant reply to my email/blog this week about the NAR lawsuit–what do you think? Agree or disagree?
Original blog here: https://realtitleservices.com/biggest-change-to-the-housing-market-in-a-century
Angela,
I have mixed feelings about the NAR ruling. In the big picture, if the trend continues, to effectively remove representation in the home buying process, both buyers and sellers will become more vulnerable to scams.
If the trend continues and becomes “no realtor representation and no title needed, and let’s just do AI financing” – which is where it is heading – then homebuying will become a transaction through “payee” platforms instead of through a regulated system. Payee platforms offer NO security, representation or reconciliation for losses.
Buyers could easily lose the hard-earned money they have save, a con artist is a master at reading and using what makes people tick and what their character weaknesses are.
The even bigger picture, is the slow but effective erosion and destruction of small businesses – with an end game to have only large entities, either run by the government or a company which might as well be the government.
Thanks for the update, have a good rest of your week.