Congress Probes Private Listings Deal Between Compass and Chicago Multiple Listing Service: Read the Letter

A congressional subcommittee is probing brokerage giant Compass' private listings partnership with the Midwest Real Estate Data multiple listing service to determine if it is anticompetitive.The House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust sent letters this week to Compass CEO Robert Reffkin and MRED CEO Rebecca Jensen requesting a briefing on their business practices.The inquiry comes after Compass and MRED, the MLS for the Chicago area, in April announced a deal to distribute Compass Private Exclusives listings nationwide through the MRED database, which has historically operated only as a regional service.The letters from Rep. Scott Fitzgerald (R-WI), chair of the subcommittee, say the panel is examining whether that deal might amount to anticompetitive conduct. “This partnership, and the expansion of [Private Listing Networks] more generally, has raised concerns about the information that will be available to consumers and the effect that it could have on housing affordability,” Fitzgerald wrote in the letters, which were obtained by Realtor.com®.Scroll down to read the full letterThe letters say the committee also wants to determin...