The article discusses the severe job loss faced by professionals in the real estate sector, where institutions like the National Association of Realtors (NAR) struggle to lead and innovate amidst an unfolding antitrust crisis. Many affected individuals are independent contractors lacking protections or support. In contrast, companies like Compass have exploited the situation for short-term gains, while others such as Zillow and eXp Realty work towards ethical practices and modernization. The piece suggests a need for accountability and integrity in navigating the evolving industry landscape.
Tens of thousands of professionals across brokerages are losing jobs, with institutions like NAR fumbling reforms and companies like Compass exploiting the crisis.
NAR's wait-and-see approach failed to prevent the current antitrust issues, hampering innovation and transparency in the real estate industry.
While NAR remains reactive, companies like Zillow and eXp Realty proactively modernize the industry, focusing on ethical practices and supporting marginalized professionals.
Compass's growth reflects a cultural failing in the industry, prioritizing instant gratification over long-term integrity and accountability, leading to exploitation rather than disruption.
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