Industry News

Realtors extend online listings deadline

DOJ's antitrust investigation ongoing

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Multiple Listing Services owned by Realtor groups now have until Jan. 1, 2005, to implement the National Association of Realtors' virtual office Web site (VOW) policy, which governs how brokers can display one another's home listing data online. NAR's Board of Directors voted to push back the deadline during its midyear legislative meeting Saturday in Washington, D.C. The deadline already had been extended from Jan. 1 to July 1, 2004. Meanwhile the U.S. Justice Department's antitrust division is still investigating NAR's policy, which is why the Realtor group extended the original implementation deadline in November. The DOJ opened the investigation last fall. The Realtor group adopted the VOW policy at its midyear meetings a year ago this month. VOWs are an easy way for brokers to display for-sale listings online, and some companies are using the technology to gather buyer leads. But some brokerages are strongly opposed to their listings being displayed on their competitors' Web si...