Late in 2020, the National Association of Realtors issued an unusual statement – an apology.
“NAR initially opposed passage of the Fair Housing Act in 1968, and at one time allowed the exclusion of members based on race or sex,” said the Washington-based group, which boasts over 1.5 million member real estate agents. “This discrimination was part of a systematic policy of residential racial segregation, led by the federal government and supported by America’s banking system and real estate industry, and driven by practices like redlining.”
Speaking onstage at a public event, Charlie Oppler, the group’s then-president, added, “Because of our past mistakes, the real estate industry has a special role to play in the fight for fair housing.”
But just a few years later, the fight for equitable homeownership may have taken a step back. By decoupling the commission paid to buyer brokers from seller proceeds, the landmark class-action lawsuits brought against NAR and other large national brokerages on behalf of consumers have unintended consequences, advocates say.
The concern: Black buyers, who often come to the house hunt with the deck stacked against them, will be further disadvantaged by having to pay more money out of pocket for an agent to represent them – or will choose to go without representation in a transaction that’s expensive, confusing and laden with unfamiliar pain points.
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“With the ability to purchase a home, a lot of…
