Breaking News: Update From The Midyear Meeting
by Blanche Evans
In response to discussions between National Association of Realtors attorneys and the Department of Justice representatives, NAR leadership is recommending a change in the Virtual Office Website (VOW) policy. In hopes of resolving the DOJ's investigation into the Real Estate Industry's internet data display policies, the Multiple Listing Issues & Policies Committee is reviewing a report and recommendation of it's IDX Enhancement Work Group. Proposed is a recommendation that the opt-out feature of the VOW policy be eliminated. What is under review, is a blending of the four-year-old IDX Policy and elements of the VOW policy, in a compromise designed to eliminate the DOJ's objections. In a effort to resolve the investigation, NAR leadership plans to move quickly with it's recommendation and adoption of a new policy ahead of the Multiple Listings Issues & Policies Committee's meeting scheduled for November. Laurie Janik, general council for NAR, says: "The IDX Policy has worked well for four years. There's no point in pursuing a policy that consumers may not want, which may include mandatory registration in order to see MLS listings. Any broker may require registration of consumers in order to capture leads. This will be a single, uniform policy." The basic difference between the VOW policy and the more successful, and popular, IDX policy is that brokers who participate, give permission to post and share their listings which is blanket and reciprocal; whereas, the problem with the VOW policy according to the DOJ's objection, has been that the selective opt-out feature in the VOW policy allows brokers to choose which competitor may or may not advertise their listing in a non-reciprocal agreement. |
