Challenges to the MLS Broker Offer of Compensation, the current “Compensation Vehicle.”
This is the hottest topic in the real estate industry and it is likely to have far reaching effects, with both intended, and unintended consequences.
It this short, 9 minute video clip, (1 of 6)
• The DOJ is pressing for the current compensation vehicle to change or be eliminated.
• Start using Buyer Representation agreements – payment from the sell side.
• Consider using the old system of compensation through subagency.
• Mention 5 civil lawsuits (called copycats) and NAR lawsuit.
• There will be more lawsuits so be ready to talk with your clients who ask you about them.
• Next step for NAR is post-trial motions; appeal and post bond.
• Appeal based on improper jury instruction applying the Per Se standard (the way you did business is clearly against the law) as opposed to the Rule of Reason in which the court allows the defendant to demonstrate why the structure was Pro-competitive for the consumers.
https://www.youtube.com/watch?v=rIXlYy1d1Qw&list=PLz4UQdKrkAi0i0kd8x0YJDaeswUR6cE33&index=4
