Ruling

The hearing panel agreed with REALTOR® Z’s logic, noting that a REALTOR® should be able to rely on generally accurate information from reliable sources. They reasoned that if, on the other hand, the MLS had shown REALTOR® A having, for example, 1% of the market, then REALTOR® Z’s reliance on the information would have been "reckless" because REALTOR® A had generally had a 10%—15% market share, and a reasonable conclusion would have been that the information from the MLS was seriously flawed. The hearing panel concluded that REALTOR® Z’s comparison with his competitors, while slightly inaccurate, was based on usually accurate and reliable information and had been made in good faith, and while technically "misleading," had not been "knowing" or "reckless." REALTOR® Z was found not to have violated Article 15.

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