This article in the NY Times discusses the recent decision by the National Association of Realtors (NAR) to allow brokerages to operate as independent entities, thereby enabling them to function without a requirement to join NAR. This move is expected to have significant implications for the real estate industry, as it will allow brokerages to operate more efficiently and with greater flexibility. The article notes that the decision was made in response to changing market conditions and the evolving needs of real estate professionals. It also highlights some of the potential benefits of this new policy, such as increased competition and innovation within the industry. There is a similar class action lawsuit in Canada that names TRREB and CREA as co-defendants.
NY Times article: https://www.nytimes.com/2023/10/06/realestate/national-association-realtors-brokerages.html
If the wind blows the same way in Canada as it does in the US, real estate boards and brokerages will be free to manage their businesses (and their listing data) in ways that are beneficial to them without a requirement to join CREA. – Ed.
