US Realtors agree to share home listings with online brokers
The US Justice Department said Tuesday that it had reached a proposed civil settlement with the National Association of Realtors (NAR) which will enable Internet-based property brokers to compete more fairly.
Under the deal’s proposed terms, real estate brokers who participate in a NAR-affiliated listing service for home sales will not be permitted to withold sharing their home listings from Internet-based brokers who run online websites.
“Today’s settlement prevents traditional brokers from deliberately impeding competition,” said Deborah Garza, a senior official in the Department’s Antitrust Division.