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Government and realtors group settle home listings suit
WASHINGTON |
WASHINGTON (Reuters) - The U.S. Justice Department and National Association of Realtors agreed to settle a lawsuit over who has access to its listings of houses for sale, the department said on Tuesday.
Under the agreement, the National Association of Realtors must allow Internet-based real estate brokers access to its multiple listing services, the government said in a statement.
The Justice Department said the settlement would give consumers more choice and lower commission rates.
A lawsuit challenging the industry group's control of its multiple listing services was filed by the government in 2005.
(Reporting by Randy Mikklesen, Diane Bartz)
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