The last debacle by Ketchmark cost Compass $52 million – there is no way that we will keep putting ourselves at risk of more lawsuits. It’s why Robert Reffkin has been so adamant about disolving the Clear Cooperation Policy, even though he doesn’t state it often enough.
Once the CCP is gone, there won’t really be any reason for the National Association of Realtors to stick around much longer. Their blunder of taking the lawsuit too casually and losing it AND forcing a settlement on the big brokerages should cost them their jobs.
I’ll be at a two-day conference next month where the CEO of NAR will be speaking. I know she is going to gloss over this and say everything will be fine – I’m hoping for a chance to ask a couple of questions!
Soon we will be back to pocket listings and in-house sales being the norm, and putting homes on the MLS will be a last resort for many agents.
Every year it gets worse for homebuyers, and this will be the 2025 gut-punch for them.
But but without the Buggy Whip Quality Control Commission how can any hackney ever hope to safely control the horses? And get paid of course.
Jim,
Our MLS here in DOGE Damage land has already modified in a way that makes the CCP kind of a moot point. Upon instruction by the seller, the agent can basically do whatever, as long as they register with BrightMLS as a PE. Heck, you can do more in PE than you can in Coming Soon, excepting the visibility advantage that the MLS provides.
My question is-do informed sellers REALLY want less exposure? No, it is the agents following their Pied Piper, often to the sellers disadvantage, IMHO. Seems self serving to me.
Thanks for commenting Greg!
Come back tomorrow and I’ll have a new post on the benefits of PEs.
N-Rob gets into it:
https://youtu.be/Qmd9Do7–6M