BrokerageIndustry News

Realtors tighten MLS member requirements

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When the National Association of Realtors rolled out its new online policy earlier this month for the display of property listings, the trade group also announced a change to MLS policy that prohibits licensed real estate brokers from joining a multiple listing service if they don't list or sell properties. The change in MLS participant requirements, effective Aug. 31, requires individual brokers and real estate firms to "offer or accept cooperation and compensation to and from other participants." The change comes at a time when Realtor groups are under fire from federal officials for possible anticompetitive activities. Former language in the Realtor association's MLS rules provided that individuals and firms must be "capable of offering and accepting cooperation and compensation to and from other participants," while the new policy mandates this cooperation and compensation. Real estate appraisers are exempt under the new and former MLS participant requirements. According to ...