OpinionIndustry News

Realtor leadership should focus on consumers

Perspective: The writing is on 'The Wall'

The wall in this case is The Wall Street Journal. On Friday, Aug. 12, The Wall Street Journal – the nation's pre-eminent business newspaper and the protector of capitalism – ran a scathing opinion article condemning the National Association of Realtors for encouraging anti-consumer and anti-competitive legislation and regulations. In "The Realtor Racket" it slammed NAR for efforts to pass legislation or implement regulations requiring minimum levels of service and/or prohibiting rebates. The tone of the article was something you might expect from some newspapers or consumer advocacy organizations with a liberal bent, but not from a conservative business publisher like The Wall Street Journal. To be sure, the Journal occasionally speaks out against corporate executives who are guilty of particularly unsavory practices, but this is the first time in my recollection that The Wall Street Journal has taken an entire trade association to task for its anti-competitive behavior. A...