Welcome to the October 2021 Broker Report. This information is available for you to share with your agents and office staff. Visit the COVID-19 webpage to view resources for you and your agents on any modifications to how you do business.
CEO Update on November 3 at 2pm. Register today!
- We’re changing the process to Register and Exclude a Listing. Make sure you attend to ease this new process for your agents.
- “Coming Soon” is always a hot topic. Join CRMLS CEO Art as he discusses and gathers your feedback to upcoming Coming Soon changes.
- We will also update you on current industry happenings. See below for a quick summary:
- NAR & DOJ – The US Department of Justice has investigated NAR and MLS practices since 2019, focusing on buyer broker compensation and the Clear Cooperation Policy. NAR and the DOJ agreed on a settlement in 2020, but the battle reignited when the DOJ pulled out of the agreement in July 2021.
- Moehrl vs. NAR et al. – A class action lawsuit filed in 2019 challenges the sharing of sales commissions between listing brokers and buyer’s brokers, arguing that sellers overpay under this system.
- Sitzer v. NAR et al. – A lawsuit filed in 2019 seeking class action status challenges, like Moehrl, the system by which home sellers pay the commissions of buyer’s brokers, arguing that sellers overpay.
- REX vs Zilllow & NAR – A lawsuit filed in March 2021 by non-MLS/NAR real estate brokerage REX alleges antitrust violations against NAR and Zillow for separating MLS and non-MLS listings on Zillow’s website.
- Leeder vs NAR et al. – A class action lawsuit filed in January 2021 alleges that sharing commissions between listing and buyer brokers inflates buyer costs in the form of higher home prices.
- PLS vs. NAR & CRMLS – A lawsuit filed in May 2020 by PLS against NAR and CRMLS alleging that the Clear Cooperation Policy violates antitrust law.
Compliance Corner
- Trending Topics for Compliance: October 2021
- Register for our Top Violations Overview webinar on October 28 at 1pm
