National Association of Realtors General Counsel Laurie Janik is advising NAR’s board of directors not to speculate about what changes the association’s board of directors might make to the realtor.com operating agreement at a special board meeting scheduled for July.
In a May 18 resolution authorizing the special meeting, NAR said its leadership team will work with Realtor.com operator Move and its subsidiary RealSelect to develop recommendations for consideration by NAR’s board “to enrich and broaden the user experience” on realtor.com.
NAR disclosed to members today that an investment analyst has approached NAR “and several NAR directors seeking insights” on the special meeting. The analyst is offering “an incentive for information” such as “the likelihood of changes that would restrict the ability of third parties to aggregate MLS data,” said Stacey Moncrieff, NAR’s vice president of business-to-business communications, in a post on the “Speaking of Real Estate” blog.
“We don’t know what the board will decide, so I would strongly caution against speculation,” Janik said.