The editorial “REALTORS® must embrace fair rules of competition, lest their hands get forced” is replete with inaccuracies and mischaracterizations about local broker organizations, REALTORS® and the American real estate industry. In fact, local broker organizations ensure equity, superior customer service and greater options for buyers and sellers. REALTORS® are working Americans championing homeownership and property rights for the communities they serve. And the National Association of REALTORS®, or NAR, backs both up by regularly reviewing guidelines to maintain practices that increase transparency and improve the consumer experience.
In the latest example of advancing positive change, an NAR committee recently passed motions that more explicitly state the spirit and intent of NAR’s code of ethics and multiple listing service (MLS) guidelines in some key areas. The guidelines reinforce greater transparency and disclosure of compensation offered to buyer agents, they ensure that listings aren’t excluded from search results based on the amount of compensation offered to buyer agents and they reinforce that local MLS market participants do not represent brokerage services as free.