Feds break up Realtor "monopoly"

The National Association of Realtors appears to have settled its anti-trust lawsuit with the U.S. Department of Justice.

The deal maker: Realtors will stop blocking Internet-based brokers from tapping hundreds of multiple listing service data bases around the country. The MLS contains most of the homes for sale in a particular region.

The government sued Realtors in 2005, declaring the MLS restrictions anti-competitive and monopolistic. Click here for the full story.

Comments

[Tino]

FTA: The group called Tuesday’s settlement a “win-win”

Like all bad news thrown its way, the Realtors are spinning this huge loss as a victory.

For years, Realtors have justified their excessive pricing due to their stranglehold on listings. Now that they no longer have that advantage, it will be interesting to see how the competition heats up.

[k]

Clarification needed?
Internet-based brokers were not blocked from *placing* listings on the MLS. They were evidently blocked from redisplaying the MLS list itself. Realtor.com and MLS-subscribed agents had that advantage. The biggest loser here appears to be Realtor.com who charges realtors handsomely.

This article may give more insight:

http://www.bloomberg.com/apps/news?pid=20601103&sid=anuFn3WDukYg&refer=news

[Fuzzy Bear]

Internet-based brokers were not blocked from *placing* listings on the MLS.

K, I know of one case in which a client was blocked by the NAR and local realtor associations after several realtors complained to the NAR that this company was taking away their business via lower commisions used by the internet based company.

[k]

Care to name? Home Discovery wasn't blocked nor is a bunch of other MLS direct types (flatfeeMLS, etc). Of course, if you don't follow the listing rules, you can get booted or fined like anyone else. GTAR holds regular re-education classes for fined violators.