REX Responds to NAR President Charlie Oppler, Pleads with Association to Listen to Consumers
The October 20 letter reminded Oppler and NAR members of the legal scrutiny on industry practices and pointed to simple reforms that would save consumers billions annually
AUSTIN, TX – REX Senior Vice President Michael Toth sent the following response to National Association of Realtors (NAR) President Charlie Oppler today. The letter responds to misstatements by Oppler regarding REX in response to a letter from REX Co-Founder and CEO Jack Ryan.
NAR has faced unprecedented scrutiny from the Biden Administration with its anti-competitive policies under the microscope of a comprehensive civil investigative demand from the Department of Justice and the Federal Trade Commission taking up a directive from a Biden Executive Order to address real estate competition.
Last week the Justice Department pointed out in its legal filing against NAR that “even a modest injection of competition into real estate brokerage could save consumers billions of dollars per year.”
REX Co-Founder and CEO Jack Ryan encouraged NAR to “showcase its new commitment to competition and to housing accessibility by making several changes such as rescinding its Segregation Rule, supporting rollbacks of anti-rebate rules, and addressing lockbox rules.”
This set Oppler into orbit in a media response prompting today’s response from Toth, which concludes with the following call to action for NAR: "The proposals that REX has raised are worthy of consideration. So are the voices of brokers like Bret Weinstein of Denver, who wrote an op-ed this summer titled: 'NAR, stop fighting for commissions — make better Realtors.'"
REX’s response to Oppler is dated October 20, 2021 and can be downloaded here.