Fifth Circuit upholds dismissal of NAR three-way agreement suit

The recent decision by the Fifth Circuit to uphold the dismissal of the National Association of Realtors' (NAR) three-way agreement suit has significant implications for the real estate industry. The court's ruling, which affirmed a 2025 dismissal, found that there was no antitrust injury tied to MLS access and association membership requirements. This decision suggests that the current structure of multiple listing services (MLSs) and the requirements for accessing them may not be subject to antitrust scrutiny.

This ruling is important for lease professionals and property managers because it may influence how MLSs operate and how access to these platforms is determined. If MLSs are not subject to antitrust regulations, it could impact the competitive landscape of the real estate industry, potentially affecting how properties are listed, marketed, and leased. Furthermore, this decision may have implications for the types of agreements that can be made between real estate associations, MLSs, and their members.

Going forward, lease professionals and industry stakeholders should watch for potential appeals or challenges to this decision, as well as any efforts by regulatory bodies to revisit antitrust policies related to MLSs and real estate associations. Additionally, it will be important to monitor how this ruling affects the operations of MLSs and the real estate industry as a whole, particularly in terms of access, competition, and innovation.

Originally reported by housingwire.com. LeaseNews adds analysis for real estate & property readers.