: Imagine logging into MLS and not seeing any mention of compensation whatsoever. Literally going in MLS and not seeing any mention of cooperating brokerage compensation. Folks, that is likely what is going to happen. This week is likely going to be a historic week in the real estate brokerage business because the Department of Justice has to file a statement of interest in the MLS PIN case. We suspect, I suspect, many suspect, though we don’t know for sure, that they are going to say they don’t want any mention of compensation or offers to buyer agents, buyer agent brokerages mentioned at all in the MLSs.
That is what we expect to come out this Thursday. Now, of course, it won’t happen immediately. If that occurs, judges have to agree, et cetera. Folks, that is likely the direction that the business is going. This is something that will be vastly different than what we have all seen for several decades. It is thanks to these cases and thanks to the Department of Justice and these plaintiff’s lawyers who are making noise about a bunch of garbage.
Are you prepared? Is your brokerage prepared? If you are a broker owner, are you prepared to train your agents, create forms, and do all of those things necessary? If you answered no to any of those things, you’d better wake up and get real. I had an agent a week ago say to me, “Oh, I’ll get serious about learning about it once it’s time.” I said, “It was time two months ago.” Think about that, folks. More to come. Stay tuned.