The Washington Report

On March 1, 2026, the Financial Crimes Enforcement Network (FinCEN) Residential Real Estate Rule went into effect primarily requiring title companies and attorneys to file reports for non-financed transfers of real estate involving legal entities. On March 19, 2026, a Texas Federal Court issued an order vacating the Residential Real Estate Rule. FinCEN and the U.S. Department of Justice recently appealed the federal court decision seeking reinstate the law and to overturn the Court’s decision. If the court reinstates the rule, any retroactive reporting will not be required for transactions that occurred while the court order was effective. At this time, the Rule is not legally effective, and reporting is not required. FinCEN recently updated their FAQs related to the rule, which you can find here. NAR will continue to provide updates regarding anti-money laundering matters.

On February 23, 2026, the U.S. Department of Justice (DOJ) and Federal Trade Commission (FTC) requested public comment on whether to provide updated guidance on business collaborations among competitors.

Multiple Listing Services (MLSs) are among the most important examples of procompetitive collaboration in the real estate market. Real estate professionals share property listing information through MLSs, creating a centralized source of complete, accurate, and timely data that supports a transparent, efficient, and competitive marketplace. MLS data is broadly disseminated through brokerages, websites, and portals, helping match home buyers and sellers.

In coordination with industry partners, including the Council of Multiple Listing Services (CMLS), NAR submitted a comment letter supporting the agencies’ efforts to provide clear, practical guidance that promotes competition and reduces uncertainty. NAR noted that DOJ and FTC have long recognized MLSs as procompetitive infrastructure and encouraged the agencies to reaffirm that sharing historical, factual property data supports competitive markets.

NAR emphasized that MLSs help expand seller exposure, reduce search costs for buyers, and provide brokers of all sizes with equal access to reliable property information, supporting a level competitive playing field. Clear, practical guidance, including examples, will help ensure that procompetitive data sharing and collaboration continue to benefit consumers and the broader real estate market.

NAR will continue to advocate for policies that support MLSs as collaborative marketplaces for real estate professionals and their affiliated businesses, and that promote efficient, competitive real estate markets.

Read NAR's Comment Letter