BrokerageIndustry News

Industry-supported study concludes there is competition

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A new study funded by the National Association of Realtors concludes that competition for customers among real estate brokerage firms in local housing markets across the nation is strong. The study, compiled by researchers at Pennsylvania State University, looks at 12 local real estate markets and draws data from multiple listing services, interviews and secondary sources. "The central finding is the intense competition in local real estate markets," Professor Steve Sawyer of Penn State's School of Information Sciences & Technology writes. The report is timely in the continuing battle between the U.S. Justice Department and organized real estate. Competition in the real estate industry has come under fire after the DOJ filed an antitrust lawsuit last week against the National Association of Realtors over its policies for online listings. The DOJ charges that the powerful trade group's policies restrain competition by obstructing real estate brokers who use Web-based systems to...