Industry NewsTechnology

Online listings rules delayed again

Federal investigation of Realtor policy continues

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ORLANDO, Fla.–Realtor-operated multiple listing services will have until July 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 during its annual meeting today voted to push back the deadline of the trade group's 18-month-old policy. The deadline had been extended twice from its original implementation date of Jan. 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 at its annual meeting a year ago. The DOJ will not have a final decision on the investigation, which opened in late 2003, for another four months, according to NAR General Counsel Laurie Janik. 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 brok...