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Howard Hanna Unleashes a Critique
In a bold move, Hoby Hanna, the CEO of Howard Hanna Real Estate Services, has taken a stand against the National Association of Realtors (NAR), declaring that they have "sold the industry down the river." This strong sentiment emerged in a recent interview with Inman, just before the settlement of the Gibson antitrust commission lawsuit, in which Hanna’s brokerage played a significant role.
The Issues with MLS Rules
At the heart of Hanna's critique are the NAR's Multiple Listing Service (MLS) rules, particularly the Clear Cooperation Policy (CCP) and the Internet Data Exchange (IDX). He contends that these regulations restrict innovation among brokerages during a challenging housing market. "They limit creativity on how someone markets the home," Hanna noted, pointing out that the MLS was operating well until imposed constraints forced conformity.
Innovation vs. Regulation
Hanna's frustration extends beyond regulatory limitations. He emphasizes that the brokerage community needs the freedom to adapt and strategize in an evolving marketplace. Innovation is essential, particularly as competitor brokerages receive substantial backing from public funds. With NAR's restrictive measures in place, Hanna fears for the future of smaller and independent brokerages vying for relevance.
His Potential Exit from NAR
As the conversation deepened, it became evident that Hoby Hanna is seriously contemplating disengaging from NAR and its MLSs. Echoing the sentiments of numerous fellow executives, Hanna remarked, "I couldn't believe that a big broker anywhere isn’t thinking this way or feeling this way today." His thoughts reveal a growing consensus that NAR's policies may not serve all members equally.
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