Compass CEO: Clear cooperation is ‚anti-homeowner‘
In a recent statement, Compass CEO Robert Reffkin criticized the Real Estate Standards Organization’s (RESO) clear cooperation policy, calling it „anti-homeowner.“ The policy, which requires agents to share their listings with other agents within one business day of marketing a property, has stirred controversy within the real estate industry.
What is the clear cooperation policy?
The clear cooperation policy, implemented by RESO, aims to promote transparency and fairness in the real estate market. It requires agents to share their listings with other agents in a timely manner, eliminating the practice of pocket listings, where agents keep listings exclusive to a select group of buyers.
Compass CEO’s criticism
Robert Reffkin, the CEO of Compass, believes that the clear cooperation policy is detrimental to homeowners. He argues that the policy limits homeowners‘ ability to control the marketing of their properties and could potentially lead to lower offers due to increased competition.
Reffkin’s opposition to the policy
In a recent interview, Reffkin stated, „I believe that homeowners should have the right to choose how their property is marketed. The clear cooperation policy infringes on that right and puts homeowners at a disadvantage.“
Conclusion
The debate surrounding the clear cooperation policy continues to divide the real estate industry. While some believe that the policy promotes fairness and transparency, others, like Compass CEO Robert Reffkin, argue that it is detrimental to homeowners. It remains to be seen how the industry will address this issue moving forward.
FAQs
What is the clear cooperation policy?
The clear cooperation policy, implemented by RESO, requires agents to share their listings with other agents within one business day of marketing a property.
Why is Compass CEO opposed to the clear cooperation policy?
Compass CEO Robert Reffkin believes that the clear cooperation policy limits homeowners‘ ability to control the marketing of their properties and could lead to lower offers due to increased competition.
