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Every week on The Download, Inman’s Christy Murdock delves deeper into the top stories of the week to equip you for the upcoming Monday. This week, the focus remains on Industry experts sharing insights on the Clear Cooperation Policy’s future. What’s your perspective?
Just when we had started implementing changes related to the National Association of Realtors commission lawsuit settlement, a new debate emerged in the industry – the discussion surrounding the Clear Cooperation Policy.
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The discourse began with an op-ed by Compass founder and CEO Robert Reffkin and continued with various opinions on both sides.
Now, the argument will transition from screens to the stage of Inman Connect New York as Mauricio Umansky, CEO of The Agency and critic of CCP, debates NextHome CEO James Dwiggins who advocates for the policy’s fairness and transparency, especially for smaller brokerages.
EXTRA: Clear Cooperation Showdown: Dwiggins vs. Umansky in The Great Debate at Inman Connect New York
While deliberating on which side to support, it’s crucial to understand the opportunities and risks associated with each. Inman contributor Carl Medford presented these choices in the most popular story of the past week.
Medford examines the questions and concerns regarding Clear Cooperation from the perspective of consumer perceptions and the agent’s fiduciary responsibilities, stating:
Is it equitable to pursue this goal in a manner that might compromise our fiduciary duties to our clients? Considering the accusations against Realtors in the past year, many related to perceived industry greed, is it prudent to adopt a policy that appears to prioritize brokerage growth and profits over consumers’ best interests?
In his analysis of the pros and cons of the CCP, he poses challenging questions and contemplates whether the debate centers more on industry welfare or financial gains at the seller’s expense.
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