The DOJ Attack on NAR’s Clear Cooperation Policy

by | May 10, 2022 | Clear Cooperation Policy | 0 comments

 

In our last edition of RealClues, we discussed the reasons the so-called “bombshell” lawsuits that are trying to force buyers to pay their own commissions will probably be a dud. NAR, the four top brokerages in the country, and a number of Missouri MLSs were named as defendants.

With the judge granting certification to the class last week, this means the suit can now move forward and the attorneys can solicit other class members to join their lawsuit.

While these lawsuits are important, they pale in comparison to the actions being taken by the Department of Justice (DOJ). The DOJ is attacking NAR’s Clear Cooperation Policy (CCP) that allows listing agents to pay buyer agents a commission through the MLS system. The DOJ is alleging that NAR’s policy on this issue and pocket listings violates the Sherman Anti-Trust Act. At stake is whether listing agents will be able to share commissions with buyers’ agents in the future. As I state in today’s CoachingClues, the DOJ seems intent on forcing buyers to pay their own commissions.

If you’re an agent, the smartest step you can take is enroll in a course that teaches you how to become an exclusive buyer’s agent. This means the buyers pay you the commission and they sign the equivalent of a listing agreement for you to represent them.

If you’re a broker, owner, or manager, get as many of your agents to take this training as soon as possible, so if this DOJ does prevail, your company and your agents will be prepared to deal with this major shift.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *