Five Multiple Listing Services Agree to Equal Treatment for Discount Brokers

Vikas Bajaj:

The Federal Trade Commission said yesterday that five regional real estate listing services had agreed to treat listings from discount brokers no differently than those from traditional agents.

The commission also said that it would pursue administrative cases against two Detroit multiple listing services. It says the two services either do not allow discount brokers’ listings or refuse to send them to other real estate Web sites.

The announcement suggests that regulators are making headway in their campaign to deal with practices in the real estate industry that they say have reduced competition and supported high sales commissions.

More than a year ago, the Justice Department sued the National Association of Realtors, the large trade group for real estate agents, charging violations of antitrust rules. That case is still pending.

More from the FTC.

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This page contains a single entry by Jim Zellmer published on October 13, 2006 11:10 AM.

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