Larson/Sobotka's VOW clearinghouse

Comparison of new NAR VOW policy to previous VOW policies and to IDX policy

You may download a comparison matrix that identifies the characteristics of VOW policy under the settlement. There are four columns:

• “IDX (now)” refers to the terms governing broker’s use of MLS data on IDX sites. It is provided here to assist in comparing the utility of VOWs to that of IDX sites.
• “VOW – NAR 2003 policy” refers to the policy NAR adopted in May of 2003 that became the focus of DOJ’s investigation and eventual suit. Some MLSs adopted this policy before the DOJ filed its suit in September 2005 – most MLSs did not. NAR suspended application of the noted provisions during the lawsuit as they were the subject of dispute.
• “VOWs – ‘wild’” refers to VOWs operating in MLS that had not adopted NAR’s 2003 policy. NAR did not permit MLSs to adopt VOW policies after September 2005 and also did not permit MLSs to prohibit VOWs. VOWs in such markets thus operated largely without regulation of any kind.
• “VOWs after settlement” refers to policies under which MLSs will permit VOWs if the settlement is approved. Items highlighted in light orange represent provisions that in our judgment are the most significant for MLS operations and for virtual real estate brokerage.