Multiple listing service leaders prepare for increased litigation and regulatory scrutiny
Legal experts at the Council of MLSs Open House warned that multiple listing services must plan for ongoing legal battles and regulatory challenges.
FTMQ Real Estate, written by our newsroom0 views
Multiple listing service legal experts urged executives to prepare scenario planning around cooperation, participation, and data access as lawsuits and demand letters increase, HousingWire Agent reported. Regulatory pressure is rising as the Department of Justice and the Federal Trade Commission reexamine guidelines covering broker cooperation and competition. [1][2]
The warning comes amid active litigation, including an antitrust lawsuit filed by Zillow against Council of MLSs member Midwest Real Estate Data and Compass International Holdings, according to HousingWire Agent. Additionally, Compass Chief Executive Officer Robert Reffkin threatened legal action against any multiple listing service that fails to meet his demands by October 6. [1][2]
Lawfare refers to the use of law as a weapon to pursue strategic or operational aims through judicial, regulatory, or legal diplomacy channels. Former United States Air Force Major General Charles J. Dunlap Jr. coined the term in a November 2001 essay analyzing the 1999 NATO air campaign over Kosovo. [4]
Multiple listing service leaders are keeping legal counsel close as antitrust litigation and federal agency inquiries challenge traditional rules across the real estate industry, HousingWire Agent reported. [1][2]
In short
- Legal experts at the CMLS Open House urged MLS leaders to prepare scenario planning for antitrust and data access challenges.
- Zillow filed an antitrust lawsuit against MRED and Compass International Holdings.
- Compass CEO Robert Reffkin threatened to sue any MLS that does not comply with demands by October 6.
- The Department of Justice and Federal Trade Commission are reexamining broker cooperation guidelines.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]‘Lawfare is now the norm’: MLS leaders brace for more legal battlesHousingWire Agent, 2d ago (the report this story comes from)
- [2]‘Lawfare is now the norm’: MLS leaders brace for more legal battleshousingwire.com, 2d ago
Background
- [3]Public relations on Wikipedia
- [4]Lawfare on Grokipedia
Our newsroom writes these reports with the help of software, from the 4 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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