Welcome to WebProNews Breaking eBusiness and Search News
Advertise | Newsletter | Sitemap | News Feeds News Feed 
 WebProNews Search Part of the iEntry network iEntry inc. 

Real Estate Industry Backing Down

David Utter
Expert Author
Published: 2005-05-13

WebProNews RSS Feed


The National Association of Realtors, facing possible antitrust action, retreated from an online listings rule.

A prospective bylaw of the National Association of Realtors (NAR) would allow brokers to prevent having some listings displayed by rival discount brokers online.

The Justice Department has been displeased with this bylaw for some time, and has been trying to work out this concern with the NAR. Lawyers for both sides met on Wednesday to try and come to an agreement about the rule.

Antitrust regulators see the bylaw as damaging to online competitors. They also believe potential commission discounts could be suppressed by the rule.

After the meeting, a NAR spokesman said to Reuters that the NAR would try to find a way to allow agents and clients to opt out of online listings without specifying certain competitors cannot carry the listing.

"We are in ongoing discussions now with the DOJ to develop a single unified policy on the display of MLS (multiple listings service) data on the Web site," NAR spokesman Steve Cook said.

Discussions have continued for the past two years. The NAR manages databases of regional home information. Its rule would bar discounters from accessing that information in a complete manner. That barring prompted the Justice Department to become involved.

Another issue for brokers comes from the referral fees they have to pay to online sites. Full service realtors traditionally earn 6% commissions on home sales, and fees paid to firms like LendingTree's RealEstate.com cut down on what they earn.

"You see new business models emerging that respond to that consumer demand. The result of that is very good for consumers - they can choose just the services they want and pay less to their broker," said Thomas Barnett, deputy assistant attorney general in the Department of Justice's antitrust division, to the Dallas Morning News.

"At the same time, that puts pressure on the traditional real estate broker. It's not surprising you would see some resistance to that," he said.

But the realtor industry sees itself as adding value for its clients, citing their local in-person availability and responsiveness to customers.

A similar battle took place with the car sales industry. While consumers hoped for an end to dealing with middlemen and friendlier pricing by purchasing direct from manufacturers, powerful industry lobbyists quickly prodded legislators to kill those prospects.



Receive Our Daily Email of Breaking eBusiness News


About the Author:
David Utter is a staff writer for WebProNews covering technology and business. Email him here.

WebProNews RSS Feed

More Articles

Contact WebProNews
Advertisement





TOP NEWS

Targeted Information for Business
WebProNews is part of the iEntry network

Internet Business: Marketing: Small Business:
WebProNews MarketingNewz SmallBusinessNewz
WebProWorld AdvertisingDay PromoteNews
EcommNewz SalesNewz EntrepreneurNewz

Software: Search Engines: Web Design:
WebMasterFree Jayde B2B DesignNewz
NetworkingFiles SearchZA FlashNewz
SecurityConfig SearchNewz WebSiteNotes

Developer: IT Management: Security:
DevWebPro ITManagement SecurityProNews
DevNewz SysAdminNews SecurityConfig
TheDevWeb NetworkingFiles NetworkNewz

The iEntry Network consists of over 100 web publications reaching millions of Internet Professionals. Contact us to advertise.
eBUSINESS RESOURCES






 Advertise | Contact Us | Corporate | Newsletter | Sitemap | Submit an Article | News Feeds
 WebProNews is an iEntry, Inc. ® publication - $line) { echo $line ; } ?> All Rights Reserved
About WebProNews
WebProNews is the number one source for eBusiness News. Over 5 million eBusiness professionals read WebProNews and other iEntry business and tech publications.

WebProNews provides real-time coverage of internet business.

Free Email Newsletters:
WebProNews SearchNewz
WebProWorld DevWebPro
Marketing SecurityNews
Plus over 100 other newsletters!

Send me relevant info on products and services.


WebProWorld
Ten most recent posts.

NetworkingFiles
Featured Software

WebProNews in the News
View all recent mentions of WebProNews from around the world!

Recent Articles On ...
Google eBusiness
Yahoo Ask Jeeves
MSN Blogs
Search Engines Blogging
Affiliate Programs Marketing
eCommerce Advertising
eBay Sun Microsystems
AOL Adsense
Microsoft Adwords
Oracle IBM
Amazon Apple
SEM Mac
SEO iPod
Adsense XBox
PR Adobe



iEntry.com WebProWorld RSS Feed WebProWorld Contact WebProNews Print Version Email a friend Bookmark us