NAR: approval of IDX franchisor indexing policy 'open, transparent, inclusive'

Trade group will revisit rule change this week

Changes to the National Association of Realtors’ Internet Data Exchange (IDX) policy that allowed franchisors to begin indexing and displaying their franchisees’ listings in January were the product of more than a year of open deliberations and review, NAR said in a statement issued Friday.

Two referral networks that represent dozens of real estate brokerages — The Realty Alliance and Leading Real Estate Companies of the World — have asked NAR to repeal the policy at the association’s midyear meeting this week in Washington , D.C. The issue is on the agenda of NAR’s Multiple Listing Issues and Policy Committee.

In an April 18 letter to NAR, Ron Peltier, chairman and CEO of HomeServices of America Inc. — the nation’s second-largest brokerage company, and a member of both referral networks — said the policy raised "significant antitrust concerns."