National Association of Realtors Lawsuit

Settlement reached in broker listing antitrust lawsuit, pending court approval.

National Association of Realtors agrees to settlement in broker listing antitrust lawsuit.

Washington, DC: (May-29-08) The Department of Justice brought antitrust charges against the National Association of Realtors, over the listing of internet-based real estate brokers. The suit claimed that the National Association of Realtors refused to list online brokers, thereby harming consumers by denying them the benefits of competition and adhering to obsolete business models. The 2005 lawsuit stated that the Association made rules changes in 2003 and 2005 that obstructed these brokers from listing their properties on NAR-approved multiple listing services.

As part of a settlement reached in the dispute, NAR will now be required to allow internet-based brokers to compete with traditional real estate brokers. Federal officials claimed that they sued in order to level the playing field for the internet outfits and increase consumers’ choice and competition in the real estate industry. Under the deal, NAR has agreed to a 10-year agreement to abide by the terms of the settlement.

National Association of Realtors in the News

[COMMERCIAL PROPERTY NEWS: National Association of Realtors]
Search for: NAR, DOJ Reach Settlement on Anti-Trust Suit

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