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Oppenheim Slams Compass CEO Reffkin Over Clear Cooperation Dispute

Jason Oppenheim Criticizes Compass' Efforts to Eliminate Clear Cooperation Policy.

J
ason Oppenheim, president of The Oppenheim Group, has spoken out against Compass CEO Robert Reffkin's efforts to eliminate the Clear Cooperation Policy. Oppenheim called Reffkin's campaign "disingenuous," arguing that it's focused on giving sellers a choice rather than addressing the policy's actual benefits. The National Association of Realtors' Clear Cooperation rule requires properties to be listed on the Multiple Listing Service within one business day of being publicly marketed.

    Oppenheim believes the rule brings transparency to the market and allows agents to find buyers more effectively. He argues that eliminating it would create less transparency, making it easier for large brokerages like Compass to benefit from double-ended deals and potentially leading to more lawsuits against agents for breach of fiduciary duty.

    Reffkin has been pushing to remove the policy, claiming it's forced cooperation. Oppenheim countered that this is a disingenuous argument, as Reffkin wants to create an internal list of properties to benefit his brokerage. He compared it to an art dealer trying to sell a piece of art through private channels rather than auction.

    Oppenheim acknowledged that there may be cases where exempted listings are necessary for security reasons, but he pointed out that the existing exempted listings rule already provides this option. Eliminating Clear Cooperation would have significant industry implications, according to Oppenheim, potentially being as impactful as the NAR settlement.

Oppenheim confronts Reffkin at Compass headquarters over disputed cooperation agreement.