Message from DMAR's President & CEO

As we approach the end of the year and the holiday season, we want to provide you with an update on the current state of affairs within the National Association of Realtors® (NAR).

November 21, 2023

Verdict in the Burnett et al v. NAR et al Case
On October 31, after an 11-day trial in the case of Burnett v. NAR et al, the eight-person jury in a Kansas City, Mo. federal courtroom found NAR and other corporate defendants liable. As of November 20th, the judge gave preliminary approval of settlements proposed by additional corporate defendants. Following the judgment, a bond amount will be set; NAR is confident in its ability to meet this obligation. The appeal process hinges on the payment of the bond amount, and the final ruling on settlements is not expected until early spring 2024. The impact on everyday business is uncertain and various scenarios, including appeals or regulatory changes, could unfold.

Numerous copycat lawsuits have emerged at both local and national levels. DMAR is closely monitoring these cases and will provide timely updates as they unfold. In the meantime, it is crucial to discuss compensation matters with your managing brokers and company and be sure to use buyer agency agreements to clearly outline client relationships. To help you stay informed, we created a landing page HERE with updates as they pertain to these real estate compensation lawsuits as well as resources for your business.

NAR Leadership Changes
In August, Kenny Parcell resigned as president of NAR following accusations of sexual harassment against him by NAR staff and members. Longtime CEO Bob Goldberg is also leaving NAR and Nykia Wright, former Chicago Sun-Times CEO, has been appointed interim CEO starting November 20 as NAR searches for a new leader. Additionally, Donna Gland, NAR’s head of human resources, will retire at the end of the year after calls for her removal from some NAR staff and members. In October, NAR announced the appointment of a new commission aimed at developing recommendations for changing NAR’s culture. The 75-member Culture Transformation Commission (CTC) is made up of both members and association staff. The CTC held its first meeting on October 19th.

We at DMAR are dedicated to serving you, irrespective of external challenges. We will continue providing top-level service and member benefits. If there are ways we can better serve you, please reach out. We appreciate your membership and dedication to serving the Denver Metro area communities.

Wishing you all a happy and safe holiday season.

Sincerely,

Brendan Bailey, DMAR CEO
Jessica Reinhardt, DMAR President