Compass’ CEO has long criticized the polarizing NAR rule, but believes the real estate industry as a whole will eventually return to his view in the near future.
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Compass CEO Robert Refkin predicted Monday that the National Association of Realtors’ polarized and clear cooperation policy will derail this year.
Levkin made this prediction in an Instagram post, saying that by 2025, the policy will “end as we know it, giving homeowners choices about where and how to market their homes, “We will be able to list items without risk for a few days,” he said. Regarding the decline in market prices and public prices. ”
He added that this year, “the industry realized that Clear Collaboration was forcing agents to work with portal sites (companies with no listings, agents, or customers); “That was not the intention of the establishment.”
Finally, Levkin predicted that by 2025, portals will “restore full contact information for listing agents to listings, and remove days on market and price drop history if requested.”
“This means that buyer inquiries will be routed to the listing agent, creating a pathway for the industry as a whole to require portals to return the listing agent’s full contact information to the listing.” he writes.
NAR’s Board of Directors adopted a clear cooperation policy in 2019. The rules require real estate agents to enter listings into the NAR-affiliated multiple listing service within one day of starting marketing. At the time this rule was adopted, it was framed as a way to ensure equal access to the housing market and to reduce pocket listings.
But the rules quickly came under fire from celebrities like Gary Gold and Mauricio Umansky for limiting home sellers’ choices, and pocket listings continued to thrive.
Since last year, Levkin has become one of the rule’s most outspoken critics. He said the rule violates both the law and the Code of Ethics and gives publicly traded companies “negative insights” (such as days on market or price declines) that can negatively impact market performance. He insisted that it should be done.
Compass also said it would provide resources to MLSs that do not enforce the rules. And the brokerage firm has been upfront about its goal of building a privately listed network.
But while Mr. Refkin and others have criticized the clear cooperation policy, other leaders, including eXp Realty CEO Leo Pareja and Redfin CEO Glenn Kelman, have voiced support for the rules and This highlights the polarized positions of As 2024 ends, Clear Collaboration ends up representing one of the real estate industry’s biggest unresolved crises.
But based on Monday’s Instagram post, Levkin, for one, believes 2025 will bring a resolution to this particular story and a victory for critics of clear cooperation. There is.
Email Jim Dalrymple II
