Interesting piece of news out today (yawn) – the Justice Department and the National Association of Realtors have settled an antitrust suit filed in US District Court (Chicago, 2005).   The crux of the suit alleged that brokers could block their listings of homes for sale from being displayed on other brokers’ Web sites, effectively restraining competition from web based discount brokers.  The settlement basically states that agents / brokers can’t adopt rules that discriminate against discount / online brokers. 

The press release on the NAR’s website is masterfully written spin article, emphasizing the NAR’s role in housing sales, their fine tradition, and several statements of how the settlement is a win for the NAR and its constituency.   Justice similarly claims that they won all the points they wished to pursue.  Yawn.

It will be interesting to shift through what’s actually changing at this point in time; from our perspective and those of many who have commented on this today - the issue has been a dead one for several years given changes in practice and technology.  Hence the yawn from our team.  One of the best analyses we’ve seen is by Mike Wurzer here……

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