The start-up American Real Estate Association (AREA) is soliciting input from real estate professionals to become involved in a potential class action lawsuit against the National Association of Realtors’ (NAR) Clear Cooperation Policy.
“Many real estate professionals and homeowners have expressed how this policy has negatively impacted them, from fines to compromised client relationships,” said AREA in an email alert. “If you have been fined or otherwise harmed by the Clear Cooperation Policy, you may be eligible to join a class action lawsuit against NAR. In response to growing requests from agents, we are currently collecting names of agents and homeowners who have been affected by this policy.”
The NAR policy mandates that listing brokers upload their publicly marketed listings within one business day to an MLS. NAR’s MLS Technology and Emerging Issues Advisory Board is holding discussions on the policy to determine whether it needs to be updated or jettisoned.
AREA added that participation by real estate professionals was “instrumental in standing up for homeowners’ rights and defending our profession … Together, we can amplify our voices and work towards meaningful change.”
The new endeavor is the second time within in a month that AREA has sought to mobilize the industry against the Clear Cooperation Policy. The organization previously launched a petition drive on Change.org calling on NAR to repeal its policy, generating 4,870 signatures to date on its way to a 5,000-signature goal.
;
Why? Entering a listing in the MLS benefits everyone. I don’t want to go back to the days of “pocket listings” where the buyer agent / seller can discriminate on who sees the listing or purchase th property.
This assumes that all Realtors are required to be a member of an MLS service, which is not necessarily a the case with all brokerages, and/or local boards. I several cases I have been involved with, the seller has specifically requested that their listing not be made public – there are, and should be exceptions to every rule.
Every MLS I have been associated with has an opt out form for the seller to sign if they don’t want to be on the MLS. This protects the seller from an agent keeping listing in his or her pocket without the seller’s knowledge. In over 30 years I have rarely had a seller who did not want their property on the MLS.
NAR should not be the only game in town. The association clearly has not told us what all was involved with the lawsuit, and the reason it caved on an issue that should have been successfully litigated.