The Justice Department’s upcoming opinion on the commission’s lawsuit settlement is already drawing attention and criticism as a key milestone approaches.
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Each week on Download, Inman’s Christy Murdoch goes deeper into the week’s hottest stories to give you the information you need to face Monday. This week: The Justice Department’s upcoming opinion on the commission’s lawsuit settlement is already drawing attention and criticism as a key milestone approaches.
Just when you thought it was safe to get back in the water and a commission lawsuit settlement was all but a foregone conclusion, the Department of Justice’s continued interest in the issue is sparking new concerns and additional anxiety among real estate professionals, real estate technology providers and MLSs.
In comments from Justice Department lawyers Jessica Lyle During a May 21 status hearing in the Nosalek Commission case, Leal said regulators would neither support nor oppose the NAR settlement, which would result in sweeping rule changes being implemented this summer.
Lyle added that the Justice Department does not want to see compensation claims filed “anywhere,” RISMedia reported. “We believe compensation should not be offered anywhere, especially in the MLS,” Lyle said.
As you continue to stay up to date, here are a few upcoming dates you can mark on your calendar:
- June 18: Deadline to Opt-In to NAR Billing
- June 20-21: DOJ expected to update its position on NAR settlement and two other real estate issues
- August 17: MLS and Buyer’s Agent Agreement Rules Effective
Meanwhile, for those hoping MLSs, tech companies and individual brokers and agents can develop workarounds, including posting commission information on their websites or posting “seller contribution” information instead of commissions, there are concerns the Justice Department may look Any information related to this. prohibit.
In a June 10 response to the DOJ Statement of Interest, MLS Property Information Network (MLS PIN) urged Judge Patty Sarris The U.S. District Court for the District of Massachusetts rejected the Justice Department’s arguments against the settlement and approved the deal, saying the federal agency’s proposed “blanket ban” on sellers providing commissions to buyer’s brokers, whether inside or outside the MLS, violated antitrust laws and the First Amendment. Free Speech Clause.
“MLS PIN cannot enter into an agreement prohibiting the release of free market compensation packages without violating the very antitrust principles the Department of Justice claims to protect. Enforcing such a ban through a federal injunction would also suppress First Amendment-protected speech.”
Furthermore, MLS PIN argued that “the evaluation of the proposed class settlement does not require a mini-trial on hotly contested antitrust issues,” but instead requires an evaluation of whether the deal is “fair and reasonable to class members.”
Let’s face it: The fights we see in court can last for years, with appeals and arguments on both sides. At the same time, you also need to serve customers and run your business. As always, our goal is to make sure you have the tools and expert insights you need from the best in the industry to help you navigate the slow-moving gears of government and justice.
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