Unlock MLS Rejects Compass Demand Over Office Exclusive Fines

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Summary · why it matters

Unlock MLS has formally rejected Compass' demand to stop fining agents over office exclusive listings, a refusal that could trigger a federal antitrust lawsuit from the residential brokerage giant. The Central Texas multiple listing service was among several MLSs nationwide to receive a demand letter from Compass threatening to sue if it continued penalties of up to $500 and further punishment such as suspension or expulsion, with a response deadline of 5 p.m. on Oct. 6th. Unlock MLS chief executive officer Emily Girard said in a LinkedIn post that the demand asks the MLS to ignore a rule altogether, leaving it on the books while acting as if it isn't there, and that the rules exist to keep the marketplace complete, accurate and equitable. Unlock MLS attorney Ellen Sessions said a confirmed violation carries a $100 penalty for the listing, which if unpaid could escalate to a $500 sanction, and that the MLS adopted the National Association of Realtors' Clear Cooperation Policy without making compliance prohibitive for agents whose sellers request off-MLS marketing. Compass has sent similar demand letters to MLSs nationwide, including California's Regional Multiple Listing Service, which rejected the demands and filed a federal lawsuit seeking a ruling that its listing marketing does not violate antitrust laws. The dispute follows Compass' $1.6 billion acquisition of Anywhere Real Estate in January, with a network of about 340,000 real estate professionals and affiliate broker-owners across 120 countries and territories.

Impact on assets 3

Information Technology▼
Compass Inc
COMP
▼ NegativeRegulationrelevance

Unlock MLS rejected Compass' demand to stop fining agents over office exclusive listings, potentially triggering a federal antitrust lawsuit against Compass.

Consumer Discretionary▲
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Off-coverage companies 2

Unlock MLSi
Private▲ PositiveRegulationrelevance

Unlock MLS formally rejected Compass' demand to stop fining agents over office exclusive listings, defending its rules.

Regional Multiple Listing Servicei
Private▲ PositiveRegulationrelevance

Regional MLS rejected Compass' demands and filed a federal lawsuit seeking a ruling that its listing marketing does not violate antitrust laws.