MLS Property Information Network (MLS PIN) is urging Judge Nosalek to approve a settlement agreement in the Nosalek commission lawsuit, disagreeing with the Department of Justice’s (DOJ) stance on banning cooperative compensation. The DOJ, involved since September 2023, has expressed concerns about the settlement terms.
MLS PIN argues that their settlement is fair, resolves the antitrust claims, and that the DOJ is overreaching by trying to hold a trial on the settlement's merits. They emphasize that buyer-broker commissions, recognized for over 100 years, benefit consumers, especially first-time homebuyers.
MLS PIN also contends that the DOJ's economic analysis is unreliable and that banning compensation offers violates First Amendment rights. They assert that the proposed settlement would enhance transparency in the Massachusetts real estate market.
The Nosalek lawsuit, filed in 2020, alleges that MLS PIN and other real estate companies colluded to inflate agent commissions. Settlements with other defendants have already been approved by the court.
Key Points:
MLS PIN's Stance:
MLS Property Information Network (MLS PIN) urges Judge Nosalek to approve a settlement agreement in the commission lawsuit.
MLS PIN disagrees with the Department of Justice’s (DOJ) stance on banning cooperative compensation.
DOJ Involvement:
The DOJ intervened in the Nosalek lawsuit in September 2023, expressing concerns about the settlement terms.
DOJ's main position is to prohibit home sellers from offering compensation to buyer-side brokers.
Settlement Agreement:
MLS PIN claims the settlement is fair and resolves the disputed antitrust claims.
Argues that the DOJ is effectively trying to hold a trial on the settlement's merits.
Legal and Policy Arguments:
MLS PIN believes the DOJ's position should be addressed by legislative bodies like Congress or the FTC, not through this lawsuit.
Criticizes DOJ’s economic analysis as unreliable.
Adopts arguments from amicus briefs by the Council of Multiple Listing Services and Northwest MLS.
First Amendment Concerns:
MLS PIN contends that banning the publication of compensation offers violates free speech.
Argues such bans cannot survive First Amendment scrutiny and contradict long-standing legal practices.
Call for Settlement Approval:
MLS PIN urges the court to reject the DOJ’s policy arguments and approve the proposed settlement to enhance transparency in the real estate market.
Background:
Nosalek Lawsuit:
Filed in 2020, it alleges that MLS PIN, Keller Williams, RE/MAX, Anywhere, and HomeServices of America colluded to inflate real estate agent commissions.
Settlements with Keller Williams, RE/MAX, and Anywhere have already received final court approval.
In summary, MLS PIN advocates for the approval of a settlement agreement in the Nosalek commission lawsuit, arguing against the DOJ’s policy proposals and emphasizing legal, economic, and First Amendment concerns.
Source: housingwire.com
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