Nar request correction from 60 Minutes

NAR requested that 60 Minutes correct the following four points on its Web site.

* All real estate commissions are negotiable and the average is 5.1 percent, according to the most recent available data.
* The National Association of Realtors is a trade association and does not “govern” the real estate industry.
* There is no such thing as a national multiple listing service. Rather there are more than 900, which are all independently owned and operated.
* “Realtor” is a trademarked term and should never be used synonymously with “real estate agent.”

So far no changes have been made to the story.

Ultimately, Perriello says that while the story generated some buzz throughout the industry, its message should be taken in context.

“You know, it’s one story. You have to take it in context to what it is. It doesn’t change the challenges that are out there in our industry,” he said. “Realtors need to just go about what they do every day and do it well. If a customer asks you about this piece, be informed and respond accordingly. It shouldn’t change anything. There’s a job to be done and they need to get out there and do it. The people who deliver the results are the ones who will prosper and be at the closing table. That’s what people should focus on.”

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