Industry News

Confusion over new VOW rules clarified

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NAR counsel offers guidance on DOJ settlement agreement Ralph Holmen, associate general counsel for the National Association of Realtors, provides some guidance to Realtors on issues in the proposed settlement agreement between the association and the U.S. Department of Justice, the Center for Realtor Technology Web Log reports. The settlement agreement -- to resolve an antitrust complaint over NAR policies relating to the online display and sharing of property listings information -- notes that the settlement doesn't affect Internet Data Exchange policies, as those were not the focus of the lawsuit. Holmen states that once the settlement becomes effective, any multiple listing service participant's Web site that does not meet the new requirements for a Virtual Office Web site "is deemed to be an IDX site ... that must comply with the IDX rules." Holmen also states that there is confusion about when MLSs must adopt the new VOW rules. "The settlement is subj...