{"id":162030,"date":"2023-11-08T14:40:41","date_gmt":"2023-11-08T21:40:41","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=162030"},"modified":"2023-11-08T20:06:09","modified_gmt":"2023-11-09T03:06:09","slug":"nar-commission-lawsuit-could-have-major-implications-for-investors","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/nar-commission-lawsuit-could-have-major-implications-for-investors","title":{"rendered":"NAR Trial Awards $1.8 Billion (or More) to Plaintiffs\u2014What Could It Mean For the Real Estate Industry?"},"content":{"rendered":"\n\n      <iframe frameBorder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC3157770125\"\r\nwidth=\"100%\"><\/iframe>  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">A federal jury has&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2023\/10\/31\/realestate\/nar-antitrust-lawsuit.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">decided<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;that several brokerage firms colluded with the National Association of Realtors (NAR) to enforce inflated commission rates. According to the plaintiffs, the conspiracy was evident through a written rule that requires sellers\u2019 agents to offer a set rate of compensation to the buyer\u2019s agent when listing a property on an MLS.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The ruling came last Tuesday after just a few hours of deliberation. Sellers of hundreds of thousands of homes in Kansas, Illinois, and Missouri, the plaintiffs in the Sitzer\/Burnett lawsuit, were awarded $1.785 billion in damages. That amount may be trebled to greater than $5 billion. And the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realestatenews.com\/2023\/10\/31\/new-commissions-lawsuit-filed-on-the-heels-of-sitzer-burnett-verdict\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">copycat lawsuits<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;have already begun.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The verdict alone could have a ripple effect on the real estate industry. It could lead to lower commissions through negotiations between sellers and agents or even leave buyers to foot the bill for their own agents.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Brokerages are likely to prioritize pro-competitive policies to avoid future litigation, and that could mean clear opportunities for discussions about commission rates. According to the NAR, commissions are&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/about-nar\/governing-documents\/code-of-ethics\/code-comprehension-article-16-commissions-are-negotiable\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">always negotiable<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;under its rules\u2014but in practice, most real estate agents won\u2019t budge on their rates, according to a report from the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/consumerfed.org\/wp-content\/uploads\/2019\/10\/Real-Estate-Commissioner-Report.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Consumer Federation of America<\/span><\/a><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n\n\n\n  <div class=\"lg:block\" x-data=\"{ ad_block_block_654c006c48493: popAds(1) }\">\n      <template x-for=\"ad in ad_block_block_654c006c48493\">\n        <a\n          :href=\"ad.linkURL\"\n          class=\"no-underline text-black\"\n          x-on:click=\"adClicked('https:\/\/www.biggerpockets.com\/blog\/nar-commission-lawsuit-could-have-major-implications-for-investors', ad.sponsor, ad.title, ad.id, 'blockAdClicked', 'blockAd', '')\"\n          target=\"_blank\">\n          <div\n            class=\"py-4 border-b flex flex-col flex-nowrap text-sm border-t px-0 rounded-none\"\n            x-init=\"\n              analytics.track('blockAdLoaded', {\n                referrer: 'https:\/\/www.biggerpockets.com\/blog\/nar-commission-lawsuit-could-have-major-implications-for-investors',\n                sponsor: ad.sponsor,\n                ad_title: ad.title,\n                ad_page_location: ''\n              })\n            \"\n            x-intersect:enter.once=\"adViewed('https:\/\/www.biggerpockets.com\/blog\/nar-commission-lawsuit-could-have-major-implications-for-investors', ad.sponsor, ad.title, ad.id, 'blockAdViewed', 'blockAd', '')\">\n            <div><span class=\"text-xs text-slate-light block bg-slate-50 p-1 inline-block rounded-md\">Sponsored<\/span><\/div>\n            <div class=\"flex items-center text-sm space-x-4\">\n                <img :src=\"ad.imageURL\" :alt=\"ad.imageAlt\" class=\"h-10 w-10 object-cover rounded-full\">\n\n                <div clas=\"text-sm\">\n                    <span class=\"font-bold block\" x-text=\"ad.sponsor\"><\/span>\n                    <span class=\"text-slate\/80\" x-text=\"ad.description\"><\/span>\n                <\/div>\n            <\/div>\n\n            <div>\n                <span class=\"font-bold\" x-text=\"ad.title\"><\/span>\n                <p class=\"mt-2 text-slate\/80\" x-text=\"ad.body\"><\/p>\n                <span class=\"mt-2 text-themeBlue block mt-2 underline\" x-text=\"ad.linkTitle\"><\/span>\n            <\/div>\n          <\/div>\n        <\/a>\n      <\/template>\n  <\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">What the Defendants Have to Say<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">In a written update on its website, the NAR indicated&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/competition-in-real-estate\/burnett-trial-updates\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">plans<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;to appeal the verdict. Keller Williams and HomeServices of America are also reportedly considering appeals.&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-the-remax-settlement-could-mean-for-real-estate-investors\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">RE\/MAX and Anywhere<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;(the parent company of Sotheby\u2019s, Coldwell Banker, and Century 21) previously agreed to settlements in the Sitzer\/Burnett case and similar Moehrl lawsuit.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Regardless of the outcome of those appeals, it will take time for a judge to issue an order. That injunction could also include a requirement to change NAR rules or brokerage practices.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cWe disagree with the verdict but respect the jurors who decided the case based on the issues in front of them,\u201d said Darryl Frost, spokesperson for Keller Williams, in a statement provided to BiggerPockets. \u201cWe are disappointed that before the jury decided this case, the court did not allow them to hear crucial evidence that cooperative compensation is permitted under Missouri law.\u201d&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">For example,&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/revisor.mo.gov\/main\/OneSection.aspx?section=339.800\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Missouri law<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;states that a seller may authorize a broker to share the seller\u2019s compensation with another broker.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cThis is not the end,\u201d continued Frost. \u201cKeller Williams followed the law regarding cooperative compensation and stands by the evidence presented on the 100-year-old practice of sellers\u2019 agents offering commissions to other agents who help market and sell homes. Looking forward, we will consider all options as we assess the verdict and trial record, including avenues of appeal.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That 100-year-old practice was commonplace before the NAR mandate was made, in large part because cooperative compensation may be the best tool sellers\u2019 agents have to attract buyers. It\u2019s practical for sellers\u2019 agents to offer compensation to buyers\u2019 agents in exchange for their marketing efforts, which brings more offers to the listing. That could be why the practice still continues in areas where cooperative compensation isn\u2019t required. For example, Northwest MLS&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.seattletimes.com\/business\/real-estate\/consumer-group-says-homebuyers-should-ask-their-agents-for-money-back-but-that-wont-be-easy-in-seattles-market\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">eliminated the requirement<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;while also allowing brokers to publicly list compensation offers, with no noticeable market changes.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">BiggerPockets also contacted the NAR and HomeServices of America for comment, but as of this publication, they have not responded.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Journey to a Ruling<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">After deliberation, the jury answered yes to four&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.housingwire.com\/articles\/closing-arguments-wrap-up-as-sitzer-jury-heads-for-deliberations\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">questions<\/span><\/a><span data-preserver-spaces=\"true\">. They agreed that there was a conspiracy between the brokerages and the NAR, that the conspiracy increased or stabilized commission rates, that the defendants willingly joined the conspiracy with knowledge of its goals, and that the plaintiffs overpaid for real estate services as a result of the conspiracy.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">At issue in the case was NAR\u2019s&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/handbook-on-multiple-listing-policy\/commission\/cooperative-compensation-offers-section-1-information-specifying-the-compensation-on-each\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cooperative compensation rule<\/span><\/a><span data-preserver-spaces=\"true\">, which requires sellers\u2019 agents to offer compensation to buyers\u2019 agents when listing a home on a local MLS. The blanket offer is made without knowledge of the time or effort the buyer\u2019s agent will bring to the deal.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The plaintiffs argue that homebuyers aren\u2019t privy to the offer of compensation, so buyers\u2019 agents can steer homebuyers toward the homes with the highest payout. To ensure that buyers\u2019 agents show the home to their clients, sellers\u2019 agents are therefore incentivized to offer a competitive rate. That keeps&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-do-realtors-get-paid\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">commission rates<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;artificially high.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">One witness for the plaintiffs&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.housingwire.com\/articles\/judge-denies-homeservices-motion-for-mistrial-in-commission-lawsuit\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">compared<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;the current commission system in the U.S. to other countries, where commission rates are&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/past\/vol5_pdf\/012_039US.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">significantly lower<\/span><\/a><span data-preserver-spaces=\"true\">, arguing that the NAR and the brokerages were responsible for keeping U.S. rates elevated. Commission rates remain stuck, even as internet resources have shifted much of the work of finding a home to the homebuyer, and home prices have skyrocketed. However, that same witness&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realestatenews.com\/2023\/10\/19\/attorneys-spar-over-evidence-of-collusion-in-commissions-trial\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">denied<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;evidence of a conspiracy.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">But Michael Ketchmark, the plaintiffs\u2019 lead attorney,&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.housingwire.com\/articles\/closing-arguments-wrap-up-as-sitzer-jury-heads-for-deliberations\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">argued<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;the written rule itself constituted a conspiracy. The defendant brokerage firms required their agents to join the NAR and follow their rules. They were, therefore, colluding with the NAR to enforce high commission rates, a form of price fixing, the plaintiffs argued.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In his closing remarks, Ketchmark positioned the case as a fight between consumers and corporations, saying: \u201cOur system doesn\u2019t have to forget people. You can hold corporations accountable.\u201d&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">A World Without Cooperative Compensation<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Economist Lawrence Wu&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.housingwire.com\/podcast\/sitzer-burnett-trial-defense-witnesses-say-there-is-no-evidence-of-a-conspiracy\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">testified<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;that homebuyers in Australia typically don\u2019t rely on buyers\u2019 agents\u2014their services are instead handled by lawyers and CPAs. That might be preferable, given the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/there-are-too-many-real-estate-agents\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">surfeit<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;of inexperienced agents in the U.S., but someone must pay for those services. In the absence of cooperative compensation, whether a buyer pays for legal services or real estate services, their upfront costs may be greater.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">It\u2019s also possible that the sellers\u2019 agent would still charge 6% for doing the buyer\u2019s agent\u2019s share of the work. So was the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.housingwire.com\/articles\/closing-arguments-wrap-up-as-sitzer-jury-heads-for-deliberations\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">testimony<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;of Jen Davis, vice president of MAPS Coaching at Keller Williams. That outcome could mean real estate transactions get more expensive for everyone involved.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That scenario would be particularly tough on real estate investors, who often rely on the guidance of qualified agents to navigate markets they may be unfamiliar with.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">On the other hand, it\u2019s also possible that changes to the industry could lead to more negotiation between consumers and real estate agents in general.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Sellers might ask for reduced rates in exchange for reduced marketing efforts in a hot market. Buyers might pay a flat fee for limited real estate services, and the mortgage industry might evolve to allow those services to be financed. The reduced commission burden on the seller may be reflected in lower home prices. If all of those outcomes came to pass, everyone would win.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The NAR has been central to real estate transactions for so long that it\u2019s difficult to guess what the industry would look like without the association\u2019s influence, and other countries don\u2019t necessarily provide an apples-to-apples comparison.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The NAR\u2019s Reputation<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Whether or not you believe a conspiracy was taking place between the NAR and the named brokerage firms, the NAR faces several reputational threats that may be a catalyst for change within the trade association and the industry. Between the antitrust lawsuits, Redfin\u2019s&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-end-of-the-realtor-inside-the-nar-scandal\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">breakup<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;with the NAR, the accusations of sexual harassment, and the subsequent resignation of president Kenny Parcell and another high-profile resignation of its CEO, Bob Goldberg, just this week, the NAR has good reason to update its policies.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">To gain the trust of its members and consumers\u2019 respect for the Realtor membership mark, the NAR will need to reinvent itself as a pro-consumer organization and take clear action to prevent intimidation and harassment of its employees. Those policy changes could impact the way homes are bought and sold. Likewise, if the NAR fails to maintain its powerful influence, that could open the door for swift changes to the industry.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The NAR has always maintained that its policies are consumer-friendly. \u201cNAR doesn\u2019t tell people what to charge or to receive a commission,\u201d the association&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/competition-in-real-estate\/burnett-trial-updates\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">wrote<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in an update on the trial. \u201cNAR rules are very intentionally pro-consumer and pro-business competitive, and buyer brokers exist because consumer protection agencies thought they were important.\u201d&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Still, the trade organization has fallen short of requiring local MLSs to publish commission rates publicly or mandating the removal of cooperative compensation requirements. That could change. And the climate of real estate transactions could shift due to the Sitzer\/Burnett jury verdict\u2014where home sellers were once afraid to discuss commission rates with their agents, they may more courageously negotiate pricing in the future.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Bottom Line<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Whether the outcome of the lawsuit leads to lower average sell-side agent commissions remains to be seen. How it will affect buyers and buyer agents is also up in the air. And whether the effect of shaking up the industry will have a net positive or negative effect on consumers depends on who you ask.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Still, the case is far from over, with appeals expected and the details of the judge\u2019s order uncertain. We\u2019ll provide updates as the situation unfolds.\u00a0<\/span><\/p>\n\n\n\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block py-4    has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">NAR Slapped with $1.8B Lawsuit Payout, Ripple Effects Could Be \u201cEnormous\u201d<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">Learn how this lawsuit could bring sweeping changes to how agents buy and sell real estate, how they\u2019re paid, and what it means for the real estate landscape.<\/p>\n\n\n\n<div id=button-custom-event-block_654009d806887 class='button-custom-event'>\n      <a href=\"https:\/\/link.chtbl.com\/OTMEp157\" x-on:click=\"window.analytics.track(&#039;OTM Podcast Blog CTA Click | Episode 157&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/nar-commission-lawsuit-could-have-major-implications-for-investors&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-slate-dark-background-color has-text-color has-white-color\" target=\"_blank\" rel=\"noopener\">Listen Now<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/05\/On-The-Market-scaled-e1660859845837.jpg\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The NAR ruling could change a lot about the real estate process, especially for investors. Here&#8217;s what you need to know.<\/p>\n","protected":false},"author":613615,"featured_media":162032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-162030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/162030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613615"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=162030"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/162030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/162032"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=162030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=162030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=162030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}