Compass has announced a new Broker-to-Broker Cooperation Policy in order to “support cooperation.” The new Broker-to-Broker Cooperation Policy requires all agents of the brokerage to cooperate with other brokers and agents—including listings earmarked as Private Exclusives or Coming Soons—unless otherwise instructed by the client in writing, the brokerage stated. The policy—which is now added to…
New York-based OneKey MLS joined California Regional Multiple Listing Service (CRMLS) as a plaintiff in its federal lawsuit against Compass Tuesday, with the MLSs filing an amended complaint in Manhattan federal court asking a federal judge to declare their “clear cooperation” rules lawful. The complaint escalates the MLSs’ legal fight with Compass, the nation’s largest…
Iron Valley Real Estate has signed the Open Real Estate letter of support, which the brokerage stated affirms its commitment to a housing marketplace built on transparency, cooperation and broader access to listing information. Iron Valley said in a release that its position surrounding the arguments of private listings and housing information is clear: “decisions…
It’s good for Jason Tsalkas that he fully understands his father’s Greek heritage, lest he be a bit blue at not receiving the kudos a son might expect from his dad after accomplishing what he has. After all, not only did Tsalkas choose to change careers and pivot into real estate, as did his father,…
A third MLS today publicly rejected threats from Compass over listing rules, as New York-based OneKey MLS joined CRMLS in California and Unlock MLS in Texas in refusing to change policies despite significant back-channel pressure and legal threats from the mega-brokerage. In a release early this morning, OneKey CEO Richard Haggerty said the MLS would…
Just two months after the Federal Trade Commission (FTC) settled its lawsuit with Zillow and Redfin over the two portals’ alleged anti-competitive agreement, two U.S. Senators have issued a new letter petitioning the organization to take aim at alleged anti-competitive practices on the home-buying side of portals. Senators Elizabeth Warren and Cory Booker penned the…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Better drops challenge against Vishal Garg The Better Home & Finance Holding Company (commonly known as Better) announced in an Oct. 5 press release that their Special Committee withdrew its challenge to the…
Zillow and Compass are making headlines once again, potentially facing further complications due to a new letter signed by a coalition of leading consumer groups to the National Association of Attorneys General, calling for an investigation into the two company’s practices. The letter—penned by 19 consumer groups, including the Consumer Federation of America, the American…
A major ruling in the antitrust battle between Zillow and Midwest Real Estate Data (MRED) came down Tuesday night when Judge John Tharp in the Northern District of Illinois denied Zillow’s motion for a preliminary injunction, effectively making way for MRED to cut Zillow off from its feed and lifting a temporary restraining order that…
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What is a “private” listing? Short answer, not everyone agrees. Cooperation—that is, brokers sharing their listings with all other real estate professionals in order to facilitate a sale—has long been the default practice in residential real estate. The National Association of Realtors® (NAR) traces the first precursor to a “multiple listing service,” or MLS, back…
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