Compass-MRED partnership draws federal antitrust scrutiny

by Jacqui Mueller

Subcommittee Chair Scott Fitzgerald reportedly sent letters to Jensen and Reffkin on July 22.

The Midwest Real Estate Data-Compass partnership is facing new scrutiny, this time from lawmakers in Washington, D.C. The Subcommittee on the Administrative State, Regulatory Reform, and Antitrust is now looking into the relationship between Compass and MRED and the impact its private listing network could have on buyers and sellers, according to Real Estate News. 

MRED CEO Rebecca Jensen and Compass CEO Robert Reffkin were summoned by the subcommittee, which is under the U.S. House of Representatives Judiciary Committee, to provide briefings by Aug. 5.  

Subcommittee Chair Scott Fitzgerald reportedly sent letters to Jensen and Reffkin on July 22 that expressed concerns about how the companies’ partnership could affect the information available to consumers and housing affordability. 

In early July, the Consumer Federation of America, along with housing, consumer and civil rights advocacy organizations, urged the U.S. Department of Justice and the Federal Trade Commission to investigate what it called the “potential unlawfulness of Compass’ recent deals,” arguing it could threaten to reduce transparency, “entrench” market domination and limit fair access to housing opportunities. 

According to the Consumer Federation of America, its letter raised concerns about the anti-consumer, anti-competitive and civil rights implications of recent agreements between Compass and several multiple listing services (MLSs), arguing the partnerships could leave both homebuyers and sellers worse off. 

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