The discount brokerage argued in a letter that Bright MLS's new policy banning pocket listings will 'act as a restraint of trade'
The Mid-Atlantic multiple listing service invited Compass to come discuss a policy that bans off-market listings but said it is not afraid of a lawsuit and won't back down
One CEO said NAR's policy 'levels the playing field,' but others expressed skepticism at a one-size-fits-all solution
Compass says in the letter that Bright MLS's new ban on pocket and off-market listings is anti-competitive and may lead to legal action
Opinion
The MLS functions because of bilateral cooperation and compensation. You have to 'pay to play,' and you pay with providing your listings
The central Texas organization suggested that the current version of NAR's proposal isn't pro-consumer and violates ethics standards
Midwest Real Estate Data implemented its own pocket listing rule years ago and now supports a similar policy that would put the kibosh on off-market listings everywhere
Pocket listings, disruption, auctions and more were among the many things debated this week by some of the most successful real estate figures in the US
The policy requires agents to put any listing they're advertising into the MLS and comes at a time of growing concern over off-market listings
The luxury real estate market is highly competitive, but agents who harness technology, the media and their own social networks for marketing can make fortunes
The new platform will allow Coldwell Banker agents to match the needs of buyers and sellers represented by CB
The new policy is a response to limited-exposure and 'coming soon' marketing practices and would require agents to share exclusive listings with MLS members
'We are playing dominoes when the new world’s playing 3D chess,' Bright MLS CEO Brian Donnellan said
While 'Coming Soon' pre-market listings will likely remain useful for luxury properties and as a tool to test price points, there will be fewer of them all-around, Realtors tell Inman
It's all about who you know