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Compass CEO calls MLSs anti-consumer amid antitrust scrutiny
Reffkin criticized MLS market power, saying fines can reach $5,000 and that agents face limited options without MLS access.
Compass CEO Robert Reffkin argued that Compass is encouraging competition in the MLS and real estate portal ecosystem, as a House Judiciary subcommittee seeks a briefing on Compass and Midwest Real Estate Data, or MRED.
In comments on the firm’s second quarter earnings call, Reffkin criticized what he described as MLS market power, including the ability to levy fines of up to $5,000 and to restrict how agents and other businesses compete.
Reffkin said real estate professionals need MLS access to do their jobs, arguing that in many markets agents have only one practical choice for multiple listing services, which he characterized as a monopoly.
HousingWire reports Reffkin also pointed to Compass partnerships, including Redfin and multiple MLSs, as evidence of competition while the company faces antitrust attention related to its Anywhere deal.