Florida Realtors Negotiates 16 Million Dollar Settlement With BP For Gulf Agents

Florida Realtors, formerly the Florida Association of Realtors, has negotiated a settlement for Realtors who have been affected by the oil spill in the Gulf of Mexico. Terms of how the Realtor group will handle the dispersement of funds has not been released yet, but I am sure agents will be looking for their share.

The BP oil spill in the Gulf has impacted many businesses, with real estate being just a small part of them. Thetax credit expiration coinciding with the Gulf spill has mitigated the Realtors argument of lost funds as home sales showed an increase during this period of time. However, as we all know, the impact is being felt and psychologically it will be felt by home buyers long into the future.

Now the next stage to watch is how the Realtor board will determine the... [via The Real Estate Bloggers]