A Message from Morgan Cannaday, GAAR President

A message from GAAR President Morgan Cannaday.

Explore the nuances of the NAR's proposed settlement agreement with insights from GAAR's president, Morgan Cannaday, addressing misinformation and the steps GAAR has taken to support its members through this unexpected development. Discover the proactive efforts to correct misconceptions in the media, the importance of staying united as a community, and how to positively use your voice amidst ongoing coverage.

Member Resources on Value & Compensation

Video Transcript 

I want to take a few moments to talk about the NAR’s proposed settlement agreement and dispel some of the misinformation that you may be hearing as well as support you, our members, in this process.

On the morning of March 15th, news of a proposed settlement was leaked to the New York Times. Because of this leak, the settlement news came as a surprise to many, and members felt completely blindsided, hearing about this first from the media and not their association. As many discovered reading through the settlement though, it contained a confidentiality guideline that NAR could not breach. After the leak though, NAR immediately jumped into action providing information and resources through facts.realtor, which we promptly communicated to our members. NAR then launched an extensive PR campaign surrounding the settlement and what it potentially means to you, as well as consumers. Unfortunately, we have no control over what the media decides to publish. We’ve seen that in the national news, as well as here in New Mexico. As your president, I serve as GAAR’s spokesperson and since day one, have proactively tried to correct the misinformation with our local media. On the same day the proposed settlement was announced, local media were invited to a press conference I held at GAAR. And, in the days since, I have accepted every interview request and have submitted an op-ed to the Albuquerque Journal to address the media’s inaccuracies. As proactive as we have been about providing the facts, please understand that we cannot control what the media chooses to publish.

Members who may not have followed the nuances of the case have expressed surprise and disapproval of this outcome, but GAAR's Board of Directors has been following and preparing for this potential outcome for years. This settlement is a positive outcome based on what was discussed in the lawsuit, as the alternative was much more bleak. I’ve heard from members that NAR should just have filed bankruptcy, but that would have left all of us - our Realtor members, our brokerages, our association and our MLS vulnerable to the copycat lawsuits that this settlement protects us from. 

I’ve also heard members express interest in severing ties with NAR. But this lawsuit and settlement is a prime example of the purpose they serve. Being a part of such a large trade association allows us the ability to focus on our careers while they advocate on our behalf. This protects us from lawsuits at a local level, which most likely would have happened without this settlement. 

Although the media coverage has calmed for now, we are prepared for it to pick up again as the proposed settlement is finalized. And when that happens, I have a request for our members - when you see misinformation in the media, please do not engage. Every comment trying to defend our industry and livelihood is just boosting the engagement on their story and incentivizing them to post similar content in the future. Instead, use your voice for good- Tell your social media followers about specific times you’ve gone above and beyond for your clients. It is important that we promote our value and ourimportant role in the complex process. It is important that we showcase the complexity but deliver the simplicity. 

We at GAAR will continue to keep members informed on this issue. I will continue to respond to all media requests as the GAAR spokesperson to share how this affects our industry. As always, you as members can stay in the loop by following GAAR email communication and social media.