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House Judiciary panel seeks briefing from Compass and MRED on private listings
The House subcommittee also requested details on a data partnership Compass and MRED announced in April, with briefings due at 10 a.m. on August 5.
A House Judiciary subcommittee has asked Compass and Midwest Real Estate Data, MRED, for briefings on private listing networks and on an April data partnership between the companies, according to HousingWire.
The subcommittee requested that the briefings be scheduled for 10 a.m. on August 5, focusing on how visibility of homes for sale varies when listings are shown to some agents but not to all buyers.
HousingWire also notes that lawmakers and other stakeholders have been pressing the issue for months, pointing to letters from Senators Elizabeth Warren and Ron Wyden to the Justice Department and the Federal Trade Commission over the Compass acquisition of Anywhere, and a May federal court case involving Zillow, Compass, and MRED.
The article argues that clearer, consistent standards for listing rules and seller disclosures are needed, and criticizes leaving gaps such as how long “Coming Soon” and office exclusives can remain outside fully accessible MLS listings.