National Association of Realtors® (NAR) agrees to continue discussions with the U.S. Department of Justice (DOJ)
In an effort to resolve a dispute with the DOJ that has gone on for over a year and a half, the NAR will look into developing a single policy regarding the way property listings are displayed on the internet. Among the antitrust issues from the DOJ's standpoing has been whether or not agents could withhold their listings from some online websites.
The NAR will try to develop a policy that is acceptable to both the NAR and the DOJ. The NAR has long held that "...real estate professionals should retain the right to control whether and how their own listings may be used or displayed by other real estate professionals." [source]
The implelmentation of the NAR's Virtual Office Web site (VOW) policy has been postponed to January 1, 2006, in hopes that the two sides could reach an agreement on this issue.
To read more, go here.
We thank our friends at "The Week Magazine" for their contribution to this blog post.