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U.S. DOJ Cleared to Proceed Against Realtors for Online Real Estate Listings
The path has been cleared for the U.S. Department of Justice (DOJ) to proceed with an anti-trust lawsuit against the National Association of Realtors (NAR) after a Chicago district court rejected NAR’s motion to dismiss the suit on November 28.
The DOJ alleges that NAR has engaged in anti-competitive behaviour by allowing traditional real estate brokers to block their listings for use by online brokers. At the outset of the lawsuit, NAR’s listing policies allowed traditional brokers to block online brokers selectively. In an attempt to deflect the lawsuit, NAR amended its policies to allow traditional brokers to block online brokers in an all-or-nothing manner only. However, the DOJ successfully argued that such a policy change did not affect the nature of the anti-trust action.
The DOJ believes that NAR’s polices deny consumers the benefits of new technology and the potential for lower real estate commissions.
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http://www.internetnews.com/bus-news/article.php/3646161