If you have ever sold a home, you might get excited about this anticipated DOJ lawsuit against the National Association of Realtors. No, the DOJ is not merely interested in the fact that nationwide, most realtors magically charge a 6% broker fee to sell your house. But, the DOJ is concerned that the NAR passed an amendment to its bylaws allowing realtors to withhold their listings from online brokers if the online brokers charged less than 6% as a broker fee. In an industry where the largest service that a broker offers is inventory information, regulators say that this bylaw will lessen competition between discount brokers and full-service realtors.
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1. Posted by David Giacalone on May 10, 2005 @ 11:43 | Permalink
You can find more about DOJ attempts to stop anticompetitive realtor conduct, aimed at harming lower-priced brokers, in the April 20, 2005, FTC/DOJ Letter to the Texas Real Estate Commission. The FTC was studying this issue and did a major investigation more than 25 years ago. I guess the ease of using internet-based bargain brokers (who often unbundle services) has caused an upswing of reactionary behavior by the industry -- always, of course, in the name of consumer protection.
2. Posted by Jim Davis on October 17, 2005 @ 15:49 | Permalink
If you have a regular update on this i would like to be included on your mailing list.
Thanks
Jim Davis
Broker Owner
Realty World South
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