NAREP Ceases Operations, Endorses Broker Public Portal

February 2016

The National Association of Real Estate Professionals, a 501(c)(6) organization, was launched in 2012 to provide a voice for the numerous concerns raised within our industry about real estate portal practices. NAREP's ultimate objective was the establishment of a non-profit national MLS. However, during the 2012 NAR convention, a meeting attended by MLS executives, real estate consultants, a past NAR president, and NAREP founders, it was suggested that a quicker and less expensive plan would be the creation of a set of standards that brokers and MLSs could adopt. Clareity's Syndication Bill of Rights and Alex Zoghlin of VHT's A Broker's Bill of Rights inspired NAREP to author the Real Estate Professional's Bill of Rights, which, after a comment period open to everyone, was published. In support of this Bill of Rights, a Listing Agreement Addendum was created based on industry feedback and was released for use by brokers and agents.

Since that time, much has happened. Zillow acquired Trulia, and News Corp acquired Move. Most importantly, NAR's Multiple Listing Issues and Policies Committee amended the Handbook on Multiple Listing Policy (page 8) to deem MLS consumer facing websites a "basic" MLS service. This critical change allows MLSs to develop and market a MLS consumer facing website -- either locally, or via a national MLS portal. This change has led to the development of the Broker Public Portal, which seeks the creation of a National MLS Consumer Facing Property Search Website. This resource, once launched, will be funded by MLS dues and will rely on listing data governed by brokers and MLSs. Listings will adhere to the Fair Display Guidelines whose main thesis is to ensure that only the listing broker and agent are displayed on a listing.

In January 2015, the Broker Public Portal announced its first objective of raising funds to support the initiative, which it achieved within 10 weeks. In April 2015 the Broker Public Portal project announced the election of its Board of Managers.

In light of these developments, NAREP considers its objective in good hands with the Broker Public Portal project and fully endorses this initiative. In lieu of NAREP's pursuing a separate parallel effort, NAREP urges its members and all interested parties to support the Broker Public Portal project.