DOJ vs. National Association of Realtors

May 12, 2005 -- Even a casual observer of the real estate industry over the last 10 years or so could see that many realtor associations were resistant to change for fear of losing their monopoly of the multi billion dollar business. As the Internet became more popular and consumers became more knowledgeable about the real estate market instead of embracing the new technology, real estate associations circled their wagons to protect their advantage. Instead of evolving with the Internet and utilizing its potential many realtors ignored the obvious assuming their customer base would stand firm with them; however even long term clients will draw the line on loyalty when realtor fees hit the tens of thousands of dollars.

“The current DOJ anti trust allegations against the National Association of Realtors is good news for consumers because regardless of what happens with this case realtors in general will be more aware of how much consumers crave information and value alternatives to traditional Realtor pricing and practices” said Richard Embro-Pantalony, President of www.Realtorsmate.com. “Realtors need to adapt to new technologies that allow the free flow of information so consumers can make educated decisions. The Multiple Listing Service should be about the buyer and seller, not about which realtors have the right to display listing information”.

NAR and local MLS Political bickering only hurts the consumer and self regulated industries tend to get territorial. Embro-Pantalony added “The realtors I know simply want to help their clients by providing the best level of service possible and to make a good living; the politics just get in the way of them doing their jobs. This is why we launched www.Realtorsmate.com -The North American Realtors Alliance – a no charge alternative to the traditional MLS for realtors who want to utilize free IDX and VOW technology to service real estate consumers the way they ought to be looked after. We made it free because realtors have enough expenses already”.

Consumers need to be protected against monopolies and in no way should competition be curtailed. Innovation will be good for the real estate industry and the consumer will have choices. Realtors who do not adapt to the changes will be culled from the industry. Allowing consumers to pay for services they need and not what an association says they require will be good for individual realtors. “Home sellers have been complaining about realtor fees for decades and with rising home prices, fees based on a percentage of a sale price are simply not fair anymore and change is inevitable.”

“The Internet has changed the real estate industry just as it has many other industries including music and travel. Smart realtors will recognize the need to accept and embrace the new technologies that are available, most of their customers already have.”