Realtors to open listings to online brokers
Industry | (1)
From Reuters:
The National Association of Realtors will open its vast listing of homes for sale to cheaper, Internet-based brokers in an agreement to settle a federal lawsuit, the government said in a statement on Tuesday.
The change could save those who buy or sell a home thousands of dollars since commissions could drop as much as 1 percent of the selling price, said Deborah Garza, the deputy assistant attorney general for antitrust, in a telephone briefing with reporters.
The settlement will lead to "more choice, better service and lower commission rates," Garza added.
Essentially the deal requires the 800 multiple listings services associated ...
