How do real estate agents navigate landmark lawsuits like the National Association of Realtors class action lawsuit? Two legendary North Texas brokers say it’s time to work harder. Jim Fite, president and CEO of Century 21 Judge Fite Realty, and JP Piccinini, founder of JP and Associates, share their perspectives on real estate history and current lawsuits impacting the industry.
In this special episode 2 of Dallas Dirt, Candy Evans interviews both Fite and Piccinini about the National Association of Realtors (NAR) class action lawsuit that could bring about changes to the real estate industry, specifically the way commissions are structured and negotiated. For those who don’t know, the NAR lawsuit concerns allegations that the association and several large real estate brokerages conspired to inflate commissions for home sellers.
In the short clip below, Evans briefly explains the NAR lawsuit.
In Candy’s interview with Fite, the longtime real estate broker emphasizes the importance of communication and training for real estate professionals and highlights the fiduciary relationship between agents and clients.
But this is not the first time Veit, who has been a real estate agent and broker for 52 years, has seen such a lawsuit. Evans and Veit discuss a previous antitrust case dating back to the 1980s and the impact the recent case could have on agents and consumers.
JP Piccinini, entrepreneur and founder of JP & Associates Real Estate, said top professionals will always be recognized and compensated accordingly, but the lawsuit could weed out less dedicated individuals.
“It’s become way too easy to be a real estate agent,” says JP Piccinini. Interestingly, he says he only hires full-time agents. Part-time agents, or those who only sell one or two homes a month, are routinely dropped from the agency. “I think the National Association of Realtors needs to really think about what it means to be a real estate agent, as opposed to a real estate agent.
Listen to the special double episode:
About the podcast: Dallas Dirt is a weekly audio and video podcast hosted by Candy Evans and the CandysDirt.com team. Listeners and viewers are welcome to share their comments and suggestions at the following address: [email protected]Dallas Dirt is seeking North Texas based podcast guest submissions. PR requests and guest applications can be sent to [email protected]Advertising and episode sponsorship opportunities available. Contact Us [email protected] Contact us.
