Jerry Bregman Weighs in on the Legal Risks of Private Listing Networks in HousingWire

Jerry Bregman recently spoke to HousingWire about the legal risks associated with violating the National Association of Realtors (NAR)’s Clear Cooperation Policy, which states that brokers must list properties on a Multiple Listing Service (MLS) within one day of publicly marketing the listing.

In the article, Jerry explains to HousingWire that many view NAR’s control over the MLS as an unfair monopolistic practice. 

“When you have an organization like NAR that has a monopoly over a utility — which the MLS is, as it’s a required tool for Realtors to be successful — and that monopoly uses its power in a way to benefit large Realtors and agents who choose to be Realtors, some would say it is an improper use of monopoly power,” he tells HousingWire. “Rights of sellers are trampled by this rule that is imposed by NAR as a monopoly power in many markets and that raises antitrust concerns,” he continues.

However, Jerry adds that agents could be facing a liability by not properly disclosing information to their clients on the MLS.

“There really needs to be disclosures. I think if an agent does a pocket listing and holds on to the listing without ever listing it on the public MLS so they can make a larger commission by being on both sides of the deal, that is wrong and rightly exposes them to liability,” he concludes.

Read the full article in HousingWire (subscription required).