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Judge to MLS PIN: ‘Trying to understand why this matters’

Housing Wire

Saris is ready to see some movement in the Nosalek commission lawsuit , which has been pending for five years now, but that doesn’t mean she is going to approve MLS PIN’s settlement without properly examining the details. Im just trying to understand why this matters, Judge Saris said. Why do you care so much?

MLS 305
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Michigan suit claims Realtor memberships have no value after compensation banned on MLS

Housing Wire

The plaintiffs take issue with what they claim is a requirement for agents and brokers — in Michigan and nationally — to be members of NAR, their state Realtor association and a local Realtor association in order to gain access to the MLS. The three plaintiffs are real estate professionals.

MLS 370
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MLS PIN, Nosalek plaintiffs fire back at the DOJ

Housing Wire

On Tuesday, MLS Property Information Network (MLS PIN) and the plaintiffs in the Nosalek suit, filed requests asking Judge Patti B. MLS PIN and the Nosalek plaintiffs first filed their proposed settlement agreement during the summer of 2023. DOJs supplemental response addresses none of these points, MLS PIN writes.

MLS 221
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December jobs report comes in stronger than expected

Housing Wire

Residential building construction added 3,500 jobs from November, while residential specialty trade contractors added just 500 positions. The bulk of the job gains in December occurred in the care (+46,000 jobs), government (+33,000 jobs), retail trade (+43,000 jobs), and social assistance (+23,000 jobs) sectors.

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The DOJ isn’t done with Realtors and their commissions

Housing Wire

On Monday, the DOJ filed a supplemental statement of interest in the Nosalek suit expressing its continued displeasure with the terms of MLS Property Information Networks (MLS PIN) settlement. The DOJ claims that it has been fighting to inject competition into residential real-estate markets.

MLS 397
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Experts weigh usefulness of exclusive listings

Housing Wire

Office exclusives are becoming an increasingly significant segment of the Bright MLS marketplace, according to a recent Bright MLS study examining their impact on the broader housing market. Office exclusives take longer to sell and offer no price advantages over immediately promoting a home through the MLS, it said.

MLS 326
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Study: Listings on Bright MLS show $54,000 benefit for sellers compared to off-MLS

Housing Wire

With the latest industry turmoil around compensation, steering and more due to lawsuits and the investigation by the Department of Justice , those outside the housing industry would assume the benefit to listing a home on the MLS would be negligible. “[That study] just showed the averages off-MLS versus the averages on-MLS.”

MLS 441