National Association of REALTORS® President Charlie Oppler is promoting the real estate industry’s compensation model and multiple listing service in a new national op-ed, explaining their pro-consumer benefits after the Department of Justice reneged on its settlement with the association.
As part of the agreement with the DOJ, which was struck last November, NAR committed to making certain changes in its Code of Ethics and MLS policies to further support market competition. However, the DOJ withdrew its consent to the agreement in an unprecedented move earlier this month, and NAR’s mandatory policy changes are now on hold.
“Commissions for real estate agents and brokers are negotiable. Always have been. Always will be. Let’s put that on the table right now,” Oppler writes in the op-ed, which was published by leading industry publisher RISMedia on Monday. “It’s the free market at work, and the reality is that the commission structure gives everyday Americans critical advantages they otherwise wouldn’t get. That structure is what ultimately makes it possible for many people to realize the dream and benefits of homeownership.”
Oppler also called the MLS the “envy of the free world,” saying it offers a model of cooperation that brings transparency and equity, maximizing options for both buyers and sellers.Read more