Compass Settles Lawsuit With Northwest MLS in Deal To Allow ‘First Look’ Preview Listings

Compass Inc. has settled a longstanding legal dispute with the Northwest Multiple Listing Service, the MLS that covers parts of Washington and Oregon.The settlement of the 17-month-long lawsuit between the brokerage giant and the Pacific Northwest's principal MLS allows Compass to maintain a pre-marketing listing type, which it markets as "First Look."The settlement follows a strict new Washington state law that prohibits private listings. Compass says the ban does not apply to properties marketed across its network of agents as "Private Exclusives" or "Coming Soon."Both sides said the settlement of the legal dispute was a victory. It allows Compass to market a property for up to 21 days as a "First Look" until it is considered "active." But the MLS said it also prevents "off-MLS 'shadow' markets."Compass, the world's largest residential real estate broker, has focused its business strategy heavily on private listings, which it calls Private Exclusives. These are homes for sale that are primarily marketed to the company's own network of agents and clients, before they are easily visible to the wider public online.“Our original objective in taking legal action against the NWMLS has ...