Property Invests
As the residential real estate industry continues to debate the merits of private listings — and seeks to understand who would be most impacted by the practice — a new report from Bright MLS offered insight into several themes often highlighted by brokerages that view office exclusives as a unique competitive opportunity.
Having access to a broader pool of listings has become increasingly valuable in an era of remote work, "helping agents and brokers serve clients looking to move to further away areas," CRMLS said in a news release.
"For the avoidance of doubt, this injunction extends to claims arising from or relating to transactions where Settlement Class Members either sold or purchased a home on any multiple listing service nationwide, regardless of affiliation or association with NAR or not, and thus includes, e.g., NWMLS, WPMLS, and REBNY/RLS," the filing states.
The present and future of residential real estate sales is rapidly evolving, but it's the agents on the front lines who can help industry watchers better understand what's really happening in the trenches.
The events of the past few years have been a shock to the system for residential real estate: Lawsuits that have changed how agents get paid and challenged their value, a frozen housing market, NAR upheaval.
One tech firm to lean into real estate's new era is Seattle-based MoxiWorks, which announced a major update this week to its software suite and new web products to help agents conduct business in compliance with the rule changes.
While many agents and brokers are adjusting their practices in accordance with the settlement terms, some are continuing to look for loopholes, Bailey said — which he views as dangerous, because attorneys are watching very closely.