T
he National Association of Realtors' (NAR) latest policy shift has sparked concerns that it may create a more complex and potentially discriminatory housing market. The new "Multiple Listing Options for Sellers" policy, introduced in March, allows homeowners to list their properties on private platforms rather than the traditional multiple listing services (MLS). While NAR claims this move is in response to seller demand, many industry professionals argue that brokers are driving this trend to benefit themselves.

    The policy offers two new options: "Office Exclusive Exempt Listings" and "Delayed Marketing Exempt Listings." The former allows listings to be shared only within a brokerage's network until publicly marketed, while the latter restricts broader exposure for a set period. Critics warn that these private listings may lead to a more fragmented market, limiting buyers' access to information and increasing the likelihood of discriminatory practices.

    "This creates a new category that is exclusive and restricts transparency," said Lisa Rice, president of the National Fair Housing Alliance. "We believe the rule change opens the door to increased housing discrimination."

    The policy follows an August rule change that made it more likely for buyers to pay part of a real estate agent's commission. Advocates argue this shift may bar less wealthy or first-time homebuyers from accessing fair housing.

    Industry experts also fear that big brokerages will dominate the market, making it harder for small and independent brokers to compete. "If you have big brokerages hoarding these listings, agents may start getting swayed to join those big brokerages," said Summer Goralik, an independent real estate compliance consultant.

    NAR's president, Kevin Sears, defends the policy as a step forward in giving sellers more options. However, critics argue that it will lead to a more fragmented system and potentially harm buyers and sellers alike.