As the debate over the controversial Clear Cooperation Policy (CCP) intensifies, another major brokerage firm is also making an impact.
At the company’s 2024 third quarter financial results conference held on Friday, he said the following. RE/MAX CEO Eric Carlson said the brokerage supports CCP because it “believes in putting the interests of consumers ahead of actions that benefit the few at the expense of the many.” said.
“Agents and companies that promote listings to the widest possible audience are serving the best interests and fulfilling a fiduciary duty to buyers and sellers alike,” Carlson said. “Buyers are entitled to equal access to available real estate, and sellers are entitled to the widest possible exposure to their homes. We value trust, transparency and professionalism.”
Carlson’s comment that ending the policy would “benefit a few at the expense of many” could be interpreted as a covert attack on securities companies. compass and agency’s growth plans include making the platform a hub for exclusive listings.
Communist Party of China is a rule imposed by China National Association of Realtors (NAR) requires real estate agents to list a property on a NAR-affiliated Multiple Listing Service (MLS) within one day of signing a listing agreement. This is a major barrier to building exclusive listing inventory.
Compass has been vocal in its opposition to the Chinese Communist Party. Compass CEO Robert Refkin, during Wednesday’s Q3 2024 earnings call, asserted the company’s position as supporting “seller’s choice,” saying, “Homeowners don’t want to do it. They shouldn’t be forced to do that.”
CCP has been reviewed by NAR as follows: Ministry of Justice The Justice Department, under President Joe Biden’s watch, is taking aim at real estate practices deemed anticompetitive.
So far, the NAR has refused to make a firm decision on whether to keep or abandon the CCP. NAR’s advisory committee held a meeting on the topic last week, but no action was taken as the industry group said further consideration was needed.
But NAR’s reluctance to make any changes may simply be a stalling tactic. The presidential election will result in a change of government regardless of whether Vice President Kamala Harris or former President Donald Trump wins. However, once a second Trump administration takes office, the Justice Department’s priorities will likely change, allowing the NAR to maintain its policies without the threat of Justice Department intervention.
The real estate industry’s position on CCP is primarily driven by self-interest. Listing is a lifeline for MLSs that support this policy. Last week, CEO Denny Evans Multiple Listing Service Councilsent an email to members and NAR stating that concerns about this policy are “essentially invalid.”
Meanwhile, the agency’s founder Mauricio Umansky made no secret of his opposition to the Chinese Communist Party, saying: housing wire In October, it criticized the policy as “anti-competitive and contrary to the freedom of choice on which our entire country is built.” The agency is also aiming for an exclusive listing.
RE/MAX’s earnings release revealed mixed results for the company. The company posted a profit of just under $1 million on sales of $78.48 million, but agency numbers continue to stagnate. The company announced that it had 52,808 agents in the U.S. at the end of the third quarter, down 6.5% from the same period last year.
After the income and expenditure report, RE/MAX stock It plummeted.
