Antitrust. Here is a link to the Complaint in this long-anticipated lawsuit. A link to the DOJ’s press release, announcing the suit, is here.
In a nutshell, the suit alleges that the NAR has blocked competition by allowing real estate agents to withhold listings from brokers who utilize the Internet. The DOJ and the NAR have been attempting for months to negotiate a settlement to the issues raised by this suit, and apparently the NAR made a last gasp attempt last Thursday, when it announced a modified approach to its policy on Internet listings. However, the DOJ believed that the NAR had not gone far enough, precipitating this lawsuit.
I’ll discuss this suit in more detail in a later blog.