BrokerageIndustry News

Antitrust attack hits real estate at many levels

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Justice Department's lawsuit against the National Association of Realtors filed Thursday is the latest in an antitrust attack that's taking place at multiple levels. The basic fundamentals of the industry are being questioned for alleged anti-competitive practices. The Justice Department's concerns started with its investigation of NAR's policies for Internet listings two years ago. Until Thursday, the agency was quiet about what it found in its investigation and what action would be taken. Since the initial investigation opened in fall of 2003, the Justice Department has ramped up action relating to alleged anti-competitive behavior within the real estate industry. In the last year, the agency has warned legislators and policy makers in Oklahoma, Texas and Alabama, among other states, not to pass rules or legislation they say could restrict competition and harm some business models. More than one dozen states have proposed or passed legislation that typically requires brokers to...