La NAR transa en un caso pivotal contra el Departamento de Justicia
May 27, 2008 – 8:17 pmThe Department of Justice’s Antitrust Division and the National Association of Realtors have settled a 3-year-old civil suit that bolsters the position of online real estate firms.
Both the DOJ and NAR are claiming victory in the case, which was set to go to trial in July. As part of the settlement, NAR will not be able to exclude online brokerage firms from joining Multiple Listing Services. Nor will it be able to withhold listings from those brokerage firms that do business over the Internet.
Had the settlement gone another way, online brokerage companies could have lost access to the Multiple Listing Service data that is so crucial to their business. The settlement assures that the real estate information is shared equally amongst all brokers.
Deborah Garza, Deputy Assistant Attorney General of the Antitrust Division, said in a press release that the settlement prevents “traditional brokers from deliberately impeding competition.”
“When there is unfettered competition from brokers with innovative and efficient approaches to the residential real estate market, consumers are likely to receive better services and pay lower commission rates.”
NAR will not have to pay a penalty, nor will it admit any liability as part of the proposed settlement. That prompted this response from NAR President Richard Gaylord:
“This is clearly a win-win for the real estate industry and the consumers we serve. Today I can say with the clear knowledge, reinforced and underscored by DOJ’s settlement compromise, that the real estate industry is dynamic, entrepreneurial and fiercely competitive. Thanks to Realtors, consumers can access detailed information about millions of properties for sale across the country.”
More from The Associated Press.
