Big Barrier Removed for Online Real Estate Brokers

Posted on May 28, 2008
Filed Under Uncategorized |

The trade group, which represents 1.2 million residential and commercial brokers, called the settlement “a win-win” for its industry and consumers.

“Today I can say with clear knowledge … that the real estate industry is dynamic, entrepreneurial and fiercely competitive,” said NAR President Richard Gaylord in a statement.

[From Online real estate agents get equality with traditional brokers - USATODAY.com]

The National Association of Realtors reached a settlement, which has to be approved by a judge, to end anticompetitive activities that constrained online real estate services and brokers. I was actually a little shocked to learn that there are over 1,000 listing services, of which 80% operate under the auspices of NAB guidelines.

In reading the story in USA Today I was struck by the quote from the NAB above; am I to surmise that the old system was in fact a win-lose one and not really that dynamic, entrepreneurial or competitive? Yeah, it seems that way.

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