With the recent addition of roughly 800 agents, the American Real Estate Association’s membership is set to increase by almost 30 percent to around 3,800 members.
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Mauricio Umansky and Jason Haber’s American Real Estate Association has gained credibility with the addition of R New York as its first major brokerage member. This move will see approximately 800 agents boosting the NAR challenger’s membership by nearly 30 percent to approximately 3,800 members, as reported by The Real Deal.
Before joining the American Real Estate Association, R New York’s president, Stefani Berkin, served on the association’s advisory board. Berkin expressed optimism about the association’s potential to eventually surpass NAR and become the dominant organization nationwide.
Founded by Compass’ Haber and The Agency’s Umansky in January, the American Real Estate Association was established in response to issues like commission lawsuits and Measure ULA. While they hope to collaborate with NAR in the future, the association has primarily focused on advocacy efforts since its inception.
The association’s advocacy work has predominantly revolved around engaging with major lenders following the NAR settlement, urging them to update mortgage terms to allow buyers to finance their real estate agents.
Although some brokerages may wish to leave NAR, they face challenges due to NAR controlling many MLSs and requiring membership for access. However, New York City’s Real Estate Board of New York offers the Residential Listing Service, allowing non-NAR members to access the service.
Haber’s efforts to address issues within NAR, including a petition to remove former president Kenny Parcell and the establishment of the NAR Accountability Project, have led to positive outcomes. NAR recently settled commission lawsuits and agreed to industry practice changes, with hopes of creating a nationwide MLS in the future.
The evolving real estate landscape showcases the potential for change and adaptation within the industry, signalling a shift towards innovative practices and solutions. Email Lillian Dickerson for more information.
The American Real Estate Association, founded by Mauricio Umansky and Jason Haber, recently gained a significant member in the form of R New York, adding roughly 800 agents to boost its membership to about 3,800 members. The association was established as a challenger to the National Association of Realtors (NAR) due to dissatisfaction with NAR’s handling of industry issues. Despite criticisms of NAR, the founders hope to work together with the existing association in the future. The American Real Estate Association has been advocating for changes in the industry, including urging major lenders to update mortgage terms to allow buyers to finance real estate agent costs. The association also hopes for a nationwide MLS and has been involved in pushing for industry changes, such as the recent $418 million settlement by NAR over commission lawsuits. Overall, the American Real Estate Association aims to provide a better alternative for real estate agents and address key industry challenges.
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