NAR Reaches Agreement with DOJ on MLS and Commissions Rules
By Dawn Crawford
Posted on: Nov 19th 2020
2020 NAR-DOJ Agreement Regarding MLS RulesOn Thursday, November 19, NAR reached an agreement with the U.S. Department of Justice to develop rules that more explicitly state what is already the spirit and intent of NAR’s Code of Ethics and MLS policies regarding providing information about commissions and MLS participation.
The rules and policies have long been recognized for creating a competitive and efficient market that benefits home buyers and sellers. This agreement resolves the DOJ’s questions about the multiple listing service (MLS) and commissions and enables NAR to remain focused on supporting our members as they preserve, protect, and advance the American dream of homeownership. NAR 2021 President Charlie Oppler released a brief video message, regarding the agreement. Click on either link below to read more and to watch his video.
Click here to read more about the expected outcomes and the process for adopting the changes.
Click here to the summary of outcomes, what happens next, what to expect from the rule changes, and frequently asked questions.
Note that the impending rule changes are geared toward making the offers of compensation more transparent to consumers. The actual rules will be drafted within the next 45 days and will ultimately be approved by the NAR Board of Directors and the Department of Justice (DOJ). NAR will communicate as the rule drafting process takes place.