May 09, 2005
The DOJ Takes Aim at Realtor Fees
Posted by Christine Hurt

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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