Evolution of MLS Practices

Changes in MLS…MLS Litigation and More…
A Conversation with my long time friend , broker, coach, and trainer supreme, Ginni Field…
 
 
We had this conversation before the $83.5 Million Settlement by Anywhere. As real estate educators and pioneers in the area of buyer representation, we have been concerned about current litigation against the Industry for many years.
 
 
In this video we discuss:
  • The History of MLS and “MLS Compensation Vehicles.”
  • A listing is a marketing asset.
  • Broker Reciprocity – IDX and VOW (Internet Data Exchange and Virtual Office Websites)
  • Antitrust
  • NAR/DOJ Settlement in 2008
  • MLS Structures – Association owned and Broker owned
  • Opt in and Opt Out
  • Everyone represents the seller…MLS Compensation Vehicles/Models – From a “Unilateral Offer of Subagency” to a “Unilateral Offer of Compensation”
  • Agency Disclosure Laws
  • Moehlr, Sitzer, Nosalek Litigation (MLS PIN Proposed Settlement)
  • MLS PIN and NWMLS – Offer of compensation voluntary and not mandatory
  • Buyer Broker Agreements and Value Proposition – Why would you hire you to sell your real estate, or to represent you in a real estate purchase as a Buyer Broker?
  • NAR – “What have the Romans ever done for us? (The Aqueducts, Sanitation, Medicine, Roads, Irrigation, Education, Wine, Safety, Peace)…”What has NAR done for us?” Don’t get me started 🙂
If you like “real estate,” realize real estate is a huge industry.

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