Realtors sue FSBO Web site

Iowa Association seeks injunction against AgentsBeware.com

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The Iowa Association of Realtors is trying to shut down a local for-sale-by-owner real estate advertiser for allegedly operating a real estate business without a broker’s license. The association last week filed a lawsuit for an injunction against AgentsBeware.com and its operator Jeremy Smith.

The association alleges the Web site is illegally acting as a real estate broker. But Smith argues the company acts only as an advertising service, much like sites like eBay that connect buyers with sellers via the Internet.