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Reffkin Calls on NAR for ‘Emergency’ Measures on Clear Cooperation as MLS Industry Absorbs Settlement Changes
At RISMedia’s CEO & Leadership Exchange, MLS executives reported little disruption from the new rules—though there are already threats facing the industry.
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We should be very clear that from the very outset of its conception, this is a VC-funded company whose stated business model was to create market share on the back of self-serving private exclusives. In fact in the early years circa 2019, it was company policy to require all agents to post their listings for 5 days or so on the broker’s private intranet portal so as to grow market share. This had ZERO to do with “serving sellers better” and everything to do with creating monopoly in the markets where they were buying up smaller brokerages, big teams and mega agents. And one of the top reasons why I didn’t take the bait offered. Love my colleagues throughout the industry, but there is a great deal of hypocrisy in Reffkin’s self-serving campaign. If you disagree, please prove me wrong.
What’s appalling is the NAR has forced Buyers to sign a BAC before entering to see an open house. They will not negotiate terms, and typically have you sign the agreement for a 3-4% commission. It’s been a disaster and are not a ting in their clients best interests.