Real estate giants ask court to toss the discount brokerage's lawsuit over optional MLS rule
The antitrust regulator said the trade group refused to modify the deal to protect the agency's ability to investigate other NAR conduct that could impact real estate competition
A judge also denied REX's request for a preliminary injunction against NAR and Zillow. REX asked for the injunction after arguing it was the victim of anticompetitive practices
Compass versus Realogy. Keller Williams versus eXp. REX versus everyone. The real estate industry is full of big names and big feuds, and Inman's unpacking all of them
Lawsuits alleging that NAR rules regarding multiple listing services prop up commissions that inflate buyer and seller costs keep proliferating
Discount brokerage REX filed its antitrust lawsuit in March. But in a new filing, Zillow calls REX's claims "self serving" and without merit
The well-connected discount brokerage is trying to raise more funding and grow its business as it takes on industry behemoths NAR and Zillow
Rules regarding public display of buyer broker commissions and lockbox access for non-Realtors were originally slated to take effect by the end of March
One agent told the discount brokerage: 'I won't bother to show [the listing]. Who's your local agent though because I'll make sure to tell people not to work with them'
Trade group's president accuses commission detractors of duplicity 'for a payout' under the guise of protecting consumers
The Consumer Federation of America and the Oregon State Public Interest Research Group argue that prohibiting rebates to buyers and sellers stifles commission competition and harms consumers
Real estate commissions are inflated by as much as $50B per year due to the lack of price competition created by having listing brokers set co-op fees for buyer brokers, according to the report in the Berkeley Business Law Journal
REX alleges Zillow shift to IDX feed is 'driving consumers away from REX'
The brokerage is suing Oregon officials, including Gov. Kate Brown, for 'antitrust' practices, alleging a law that bans brokerages from providing rebates harms consumers
Transparency around commissions could force more brokerages to compete on price in addition to service, chief executives at several low-fee brokerages told Inman on Friday