Realtors To Open Listings To Settle Lawsuit
May 28, 2008 by Robyn HardyThis is very interesting information regarding the release of mls listing information to 3rd party vendors written by Diane Bartz on Rueters. I am in a quandry about my feelings. As a real estate company owner, I don't want this to happen but as a vendor and consumer advocate....yee haaa!! I will keep my feelings to myself until I can digest this well enough to share....read on.
WASHINGTON (Reuters) - The National Association of Realtors will open its vast listing of homes for sale to cheaper, Internet-based brokers in an agreement to settle a federal lawsuit, the government said in a statement on Tuesday.
The change could save those who buy or sell a home thousands of dollars since commissions could drop as much as 1 percent of the selling price, said Deborah Garza, the deputy assistant attorney general for antitrust, in a telephone briefing with reporters.
The settlement will lead to "more choice, better service and lower commission rates," Garza added.
Essentially the deal requires the 800 multiple listings services associated with the National Association of Realtors for various local markets to give access to Internet-based competitors, the government said. Click Here For The Entire Article
















I don't agree with it. That information is maintained and paid for by its members. To me, its like making TV stations give their programming to other networks without making them pay a licensing fee or something.
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