{"id":2497,"date":"2021-09-14T13:14:59","date_gmt":"2021-09-14T13:14:59","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2021\/09\/14\/doj-probes-nar-pocket-listings-ban\/"},"modified":"2025-03-13T02:39:07","modified_gmt":"2025-03-13T02:39:07","slug":"doj-probes-nar-pocket-listings-ban","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2021\/09\/14\/doj-probes-nar-pocket-listings-ban\/","title":{"rendered":"DOJ probes NAR pocket listings ban"},"content":{"rendered":"\n
\"HW-DOJ-1\"<\/figure><\/div>\n\n\n\n

A communique that National Association of Realtors<\/strong> fired off Monday gives clues on what the Biden administration\u2019s probe into the real estate trade group looks like \u2013 with one area of investigation NAR\u2019s ban on pocket listings.<\/p>\n\n\n\n

The U.S. Justice Department\u2019s<\/strong> antitrust division announced on July 1<\/a> that they unilaterally withdrew from a consent decree Trump administration lawyers hammered out with NAR last November.<\/p>\n\n\n\n

The Chicago-based NAR, which represents agents, brokerages, and consumers, declared then that they were \u201cblindsided\u201d by DOJ backing out, and has since assailed the Biden administration for breaking what they say is a legally binding contract.<\/p>\n\n\n\n

On Monday, NAR sent to reporters a 44-page legal briefing stating that they want to set aside or modify a civil investigative demand made by the Justice Department. A civil investigative demand is a tool used by federal government agencies to gather information, usually prior to the filing of any legal action.<\/p>\n\n\n\n

A copy of the civil investigative demand was not provided by either NAR or DOJ upon request. But NAR\u2019s petition indicates that DOJ wants information regarding the trade group\u2019s, \u201cParticipation Rule and Clear Cooperation Policy.\u201d<\/p>\n\n\n\n

NAR\u2019s Participation Rule regards the guidelines<\/a> brokers must follow to participate in a Multiple Listings Service, the majority of which are owned and operated by local NAR chapters.<\/p>\n\n\n\n

According to NAR\u2019s petition, DOJ wants a record of all documents relating to any broker withdrawal from an MLS within the last 15 years, and to catalogue any potential broker withdrawals.<\/p>\n\n\n\n

NAR slammed the request<\/a> as \u201cuntenable\u201d because there are \u201chundreds of Realtor-associations owned multiple listings services across spread throughout the country,\u201d and, \u201cSome have tens of thousands of members.\u201d<\/p>\n\n\n\n

Clear Cooperation Policy<\/a>, meanwhile, is what is better known as the prohibition on pocket listings. Agents who are members of an MLS under NAR\u2019s umbrella must post a home listing to that MLS within one business day after marketing it.<\/p>\n\n\n\n

DOJ has already intervened<\/a> in federal appeals court on behalf of luxury listings service The PLS.com<\/strong>, which sued NAR over the ban. … Article continued on HousingWire.com<\/a>.<\/strong> <\/p>\n\n\n\n

This article was originally published by HousingWire. The\u00a0full article is available on HousingWire.com<\/a>\u00a0for HW+ Members.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A communique that NAR fired off Monday gives clues on what the Biden administration\u2019s probe into the real estate trade group looks like \u2013 with one area of investigation NAR\u2019s ban on pocket listings. 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