NAR approves voluntary restrictions on use of 'MLS' term

Board approves up to $15 million in spending to launch NAR credit union

LAS VEGAS — The National Association of Realtors board of directors on Friday approved a provision that allows Realtor-affiliated multiple listing services to ban members’ use of the terms “MLS” and “Multiple Listing Service” in Web site addresses, company names, e-mail addresses and in other marketing materials.

A small group of MLSs has already passed such measures, and a policy adopted by the Regional MLS in Minnesota led to an antitrust lawsuit filed by several MLS members.