BrokerageIndustry News

Flat-fee broker seeks expansion of DOJ-NAR settlement

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A brokerage company that offers flat-fee listing services seeks to expand a proposed settlement agreement between the U.S. Justice Department and the National Association of Realtors to cover a popular type of online data-sharing agreement among brokers known as Internet Data Exchange, or IDX. NAR officials, though, are quick to point out that the proposed settlement agreement does not impact the group's IDX policy, which provides rules for the online sharing and distribution of property listings information among brokers who are members of NAR-affiliated multiple listing services. The proposed settlement agreement announced in late May focuses on NAR policies for a separate form of data exchange among brokers, known as the Virtual Office Web site, or VOW, policy, and specifically states that the federal government does not allege any antitrust violations with the IDX policy -- though managers at want the court to revisit this issue by striking a brief mention...