"Compass claims that only a monopolist like NWMLS would sue its own customer for daring to stand up for competition and homeowner choice. NWMLS's counterclaims attempt to manufacture tort liability from Compass's efforts to help its brokers comply with their fiduciary duties."
"NWMLS CEO Justin Haag stated that Compass's framing of market transparency as a monopoly is a distraction from the real issue: the creation of shadow inventory that benefits a single brokerage at the expense of the general public."
"By withholding listings and key information from other brokers and the public, Compass is manipulating critical market data, including days on market and price change history, which degrades the accuracy and reliability of the market."
Compass alleges that NWMLS is a monopolist that is suing its own customer for promoting competition and homeowner choice. NWMLS counters with claims that Compass's marketing program is deceptive and violates consumer protection laws. The counterclaims are seen as a threat to Compass and other brokers who oppose NWMLS's mandates. NWMLS argues that Compass's practices create shadow inventory that harms public access to listings. NWMLS emphasizes the importance of equal access to listings and accurate market data for all brokers and homebuyers.
Read at www.housingwire.com
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