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 PCBR Market Brief
The Pickens County Board of REALTORS® (PCBR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Pickens County Board of REALTORS®
The Pickens County Board serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the Pickens County Board has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Pickens area. The Board has contributed to various charities over the years by hosting fundraisers.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.