CRMLS moves first, asking court to block Compass antitrust claims

12 hours ago 5

California Regional Multiple Listing Service (CRMLS) is asking a federal court in New York to affirm the legality of its cooperation rules after rejecting Compass International Holdings’ demands that the MLS change how publicly marketed listings are shared. In a complaint filed late Monday in the U.S. District Court for the Southern District of New York, CRMLS is seeking a declaratory judgment that its policies on listing cooperation are “fair, procompetitive, and legally sound,” according to a company announcement. CRMLS says Compass has pushed for years to soften cooperation requirements in a way that would let the brokerage market some listings to select audiences while keeping those properties off the MLS — while still enjoying access to other brokers’ listings and MLS data. The dispute centers on how publicly marketed listings not entered into the MLS are treated. CRMLS says sellers already have options if they do not want properties publicly marketed, but once a home is advertised to the public, the MLS believes cooperating brokers and their clients should have equal access to that listing information through the MLS. “Compass seeks to dismantle these rules so that it can pur...

Read Entire Article