MLS PIN, the Massachusetts-based listing service that has become a focal point of the Department of Justice’s (DOJ) interest in real estate commission practices, yesterday filed its long-awaited response to antitrust regulators as it urged a federal judge to reject DOJ arguments that “fail on their own terms” in a proxy battle over compensation structure.
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This is totally ludicrous. We aren’t a communist country. Private citizens have the right to hire and pay for services just like they would pay contractors to work on their houses. The DOJ has bigger things on their agenda to achieve than interfering in Real Estate.
Janice, I couldn’t agree with you more.
This Counntry might be going communist faster than we think. And the DOJ is helping grease the skids.
Or could it be the DOJ is part of a much larger picture? Vern’s statement regarding short sightedness resonates. Myopia does have a treatment. Jonathan pegged it.
Amen. Oops, I may be cited for a religious comment!
I agree with the above. We have been let down by our organization leaders. Everything has been perfectly clear with the forms in Texas. No one can tell us what to do but just threaten us if we do the wrong thing. Sad.
100%
So True!!
The DOJ has opened up a can of worms. What’s to say the seller offers compensation to one party and not the other. What if one party claims discrimination? I can see more buyer lawsuits in the foreseeable future.
How about offer more compensation to one Agent than the other one? This is another problem too! This is an unnecessary mess.
Agreed.
DOJ needs to be voted out of office by the 1M+ NAR members! They are pushing an unethical and unconstitutional agenda that needs to end now.
The NAR may be equally at fault. The change in attitude on the Setzer case almost gives members whiplash. At first they treated it like the case had no merit whatsoever. Then an appeal was assured. And finally the Legal Dept of NAR surrended totally without offering any public explanation of any rationale for such a dramatic change. NAR has completely let down the membership. They sold out the membership to save the organization. Short sighted.
How about messing with the pay for those in the DOJ?
The DOJ, or anyone else for that matter, should not be able to tell a Seller who, when, or how much commission the Seller wants to pay. If the Seller wants the listing broker to share commissions with another broker and directs the listing broker as to the amounts Seller wants paid to a buyers broker, then that is completely outside the purview of the DOJ. This follows with the adage of the camel sticking its nose inside the tent.
If Blackrock has to dump all their properties in ten years…they don’t want to pay all those commissions. Just a thought.
The DOJ should investigate percentages that the legal profession takes in cases (33 1/3%). or other fees attorneys collect.
As an Agent, I have a right to charge a reasonable fee for my services. There is no dictate. If I want to lower my commissions, I can. If I act as listing and selling agent, I reduce my fees. Also, no one forces a Client to do what they do not wish to do.
To limit us to what some Government Agency thinks we deserve for our services is outright Socialist/Communist thinking. If for some reason a sale does not occur or a Listing is removed, we make nothing. The Courts in this country are becoming too political and in favor of idiocrocy and beaurocrocy.
Happy to hear that the MLS is sticking up for what is right. It is free speech and people have the right to hire, pay and advertise what they should to make a living.
They (MLS PIN) are going to win this eventually. This kind of government overreach is exactly why our founders wrote the Bill of Rights.
All retransmit take note: they are taking away your 0$ down benefits by “allowing” you to pay a buyers broker to work on your behalf. I am a Veteran and a Real Estate broker and I am getting very upset with the Beaurocrats.