NAR NEWS! NAR Reaches Agreement with DOJ on MLS & Commissions Rules.
NAR Reaches Agreement with DOJ
on MLS & Commissions Rules
MLSSAZ wants to inform you that yesterday, November 19, 2020, 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 in regards to providing information about commissions and MLS participation.
Your leadership is monitoring this closely and as we get more updates
we will share them with you.
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. It enables NAR to remain focused on supporting members as they preserve, protect, and advance the American dream of homeownership.
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), and likely being implemented in Q1 2021.
NAR will communicate as the rule drafting process takes place.
Please be sure to read the additional resources linked below:
https://www.nar.realtor/2020-nar-doj-agreement-regarding-mls-rules