BrokerageIndustry News

Judge locks in DOJ v. NAR settlement

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Settlement of an antitrust lawsuit that the federal government filed three years ago against the nation's largest real estate trade organization is now final. U.S. District Court Judge Matthew Kennelly this week issued a final judgment to settle the U.S. v. National Association of Realtors case -- the lawsuit was originally filed in September 2005 and amended in October 2005. The federal government had charged that the Realtor group approved policies governing the online sharing and display of property listings information that were illegally restrictive, while the Realtor group countered that the policies did not violate federal antitrust law. A proposed settlement was reached in May 2008, just weeks before a trial was set to begin. The Justice Department had initiated an investigation of NAR policies in 2003. The proposed settlement was amended slightly (see Inman News) to address public comments received, and Judge Kennelly signed off on these amendments in issuing a fi...