Industry News

NAR takes more time to review listings ownership issues

Board of directors meeting wraps up conference

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SAN FRANCISCO – Leaders of the National Association of Realtors decided Monday to take more time to review and resolve the question of who owns real estate property listings and listings content. The trade group's board of directors, which met at the San Francisco Marriott hotel, voted to delay the effective date of a Statement of Multiple Listing Policy that addresses ownership issues related to property listings. Some real estate lawyers and professionals have said that listings ownership issues strike at the core of legal problems relating to the association's MLS rules. The U.S. Justice Department has filed a lawsuit against the National Association of Realtors based on MLS rules it adopted for the online display and sharing of listings between real estate brokers. The association has since retracted those rules, and has adopted but suspended implementation of a new set of rules that are also challenged by the Justice Department. While the association's policy statement, ad...