MLS, or the Multiple Listing Service, is how we all search and find home listings. Regardless of what reality website you might use, they consume their hosing data from MLS.
At the heart of this lawsuit are commissions, and commission sharing is required to list or get access to the MLS listings. This makes it nearly impossible for an individual to list his or her home on the MLS (and virtually every existing real estate website) without agreeing to pay a commission or becoming a licensed realtor.
It will take years between appeals before this case is truly resolved, but it stands to upend how realtors are currently paid and further open the door to tech disruption. If this stands, the marketplace could make it easier for folks like you and me to list a house and sell it directly to another person on an exchange, saving 3-6% in commissions from closing costs. It could also shake up how real estate agents are paid, changing how they work,
This is definitely a place to watch…