CoreLogic CEO Frank Martell (Credit: iStock)
The U.S. Justice Department is demanding multiple listings service vendor CoreLogic hand over data, as scrutiny intensifies over antitrust claims in the sector.
CoreLogic, a financial services and analytics firm, notified clients of the request this week, according to Inman. The company stated that the Justice Department had asked for MLS data relating to buyer broker commissions and its policy language around the appropriate handling of the data. Other vendors have also received similar requests, the outlet reported, citing a blog by 7DS Associates.
The goal of the inquiry was not immediately clear, but it follows a class action lawsuit filed against the National Association of Realtors, accusing it of conspiring with the country’s largest brokerages to determine buyer agents’ compensation. The suit, led by multiple home sellers, named Realogy, HomeServices of America, RE/MAX and Keller Williams as co-defendants.
Earlier this month, CoreLogic was targeted in a lawsuit brought by the Austin Board of Realtors in Texas, which accused the firm of selling home sale data to a local appraisal organization. [Inman] — David Jeans