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As real estate professionals continue to face intense scrutiny in the wake of the antitrust commission lawsuits, real estate consulting company WAV Group has launched a survey to gain feedback on how to move forward with the National Association of Realtors’ Clear Cooperation Policy.
The Clear Cooperation Policy was created by NAR in the fall of 2019, and dictates that residential listings must be submitted to a broker’s multiple listing services (MLS) within one business day of publicly marketing a property to buyers.
TAKE THE CLEAR COOPERATION POLICY SURVEY
NAR created the policy in an attempt to curb the use of pocket listings, where agents limit marketing of a property to their individual office. It was also meant to increase industry transparency and benefit homeowners by gaining them a wider buyer pool for their listings.
Despite NAR’s intentions for the policy to increase transparency, the U.S. Department of Justice filed a lawsuit against NAR in the wake of its launch, claiming that the policy allows brokerages to collude on commission prices and that MLSs also play a role in propagating anti-competitive practices through the policy.
Private listing networks Top Agent Network (TAN) and ThePLS.com have also brought lawsuits against NAR for the policy, alleging that it violates state and federal antitrust laws.
On Sept. 12-13, NAR’s Emerging Issues Advisory Board committee will meet to consider the future of the Clear Cooperation policy — whether it should remain as it is, be altered in some way or repealed, given the scrutiny it has received.
Individuals who would like to express their opinion on the policy can do so through WAV Group’s survey here. The survey takes about two minutes to complete, and results will be shared with the Emerging Issues Advisory Board committee. Individuals may identify themselves in the survey, if they choose, or remain anonymous.
