Federal Issues
Federal Trade Commission Bans Non-Compete Agreements, Includes Independent Contractors in Definition
April 30, 2024
The Federal Trade Commission (FTC) is banning non-compete agreements for all workers and has explained that non-compete agreements are “an unfair method of competition and therefore in violation of Section 5 of the Federal Trade Commission Act, for employers to enter into non-compete [agreements] with workers and to enforce certain non-compete [agreements].”
Under the final rule, employers will be prohibited from entering into new non-compete agreements with workers on or after the effective date of the rule.
The rule broadly defines workers to include “employees, independent contractors, interns, externs, volunteers, apprentices, or sole proprietors.”
NAR is currently reviewing the Commission’s ruling. Use this LINK to access NAR’s advocacy update on the issue and review the Commission’s FAQ here.
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
Since 1962 Georgia MLS has been providing real estate professionals with exceptional service, proven technology solutions, and unmatched value. With a laser-sharp focus on making the day-to-day tasks of our MLS subscribers more functional, more productive, and more profitable, we continue to implement the service blueprint that has led to our continued growth. For additional information or to start a discussion about how to partner with GAMLS please contact georgiamls@gamls.com.