Realtors Group Settles U.S. Antitrust Case Over Internet Policy

Realtors Group Settles U.S. Antitrust Case Over Internet Policy 2008-05-27 13:33 (New York) By Robert Schmidt May 27 (Bloomberg) -- The National Association of Realtors agreed to revise its policy for Web listings, resolving a U.S. antitrust lawsuit that accused the trade group of trying to restrain competition by restricting access to discount brokers. The case, filed by the Justice Department in... [more]

Realtors Group Settles U.S. Antitrust Case Over Internet Policy 2008-05-27 13:33 (New York) By Robert Schmidt May 27 (Bloomberg) -- The National Association of Realtors agreed to revise its policy for Web listings, resolving a U.S. antitrust lawsuit that accused the trade group of trying to restrain competition by restricting access to discount brokers. The case, filed by the Justice Department in 2005 in federal court in Chicago, challenged the association's policy of allowing traditional real estate brokers to exclude their listings from other brokers' Web sites. The government said the practice propped up an old-fashioned business model and harmed consumers looking to lower costs. The group didn't admit or deny the Justice Department's allegations in settling the case. For related news: Stories on the Justice Department: NI JUS Top government stories: TOP GOV --Editor: Jim Rubin. To contact the reporter on this story: Robert Schmidt in Washington at +1-202-624-1853 or rschmidt5@bloomberg.net. To contact the editor responsible for this story: Michael Forsythe at +1-202-624-1940 or mforsythe@bloomberg.net [less]