Just when we thought we may have finally reached a settlement and while we, as Realtors, wait for the new forms and procedures, here comes another twist. The DOJ is not happy with the settlement. It is the contention of the DOJ that the work around settlement did nothing to eliminate the “steering” to those who offer a higher commission. This contention has led to more pressure from the DOJ that they will continue to prosecute what the DOJ believes is price fixing.
First, let me be open about this. I believe that settling the PIN lawsuit was not something the National Association of Realtors should have settled. Over 70% of my Realtor associates agree that NAR should never have settled the lawsuit. That being said, we must move forward regardless, in spite of the DOJ threats and continued action.
The California Association of Realtors or CAR, has been given notice that the DOJ has started a formal inquiry into the new forms and procedures CAR was to release today. It all stems around the offers of compensation. The DOJ is trying to force the practice of sharing the compensation available not be published anywhere, in spite of the settlement stating commissions could not be posted on the MLS. The DOJ claims it is a work around and the policy of steering still exists. I want to be clear here with my opinion. The DOJ is going too far to control the real estate industry. If the DOJ were to pass their extreme views on the trade we would most certainly see the collapse of the housing markets and new home buyers would become a rare commodity. Let’s hope the court agrees and rules on this quickly!