tag:blogger.com,1999:blog-7974014708877972123.post-69071314028989785892008-06-19T16:28:00.001-04:002008-06-19T16:29:31.444-04:00The Justice Department and the National Association of Realtors has reached a tentative agreement that is quite meaningful to those looking to purchase or sell a home. Prior to the settlement, it was quite difficult for real estate brokers based on the Internet to gain access to home-listing information. Under the terms of the settlement, however, online agents will be able to access more information through the Internet. As a result, those looking to buy a home will also be able to access more information. Not only is this good for those interesting in purchasing a home, it also provides sellers with greater exposure. As a result, they can potentially sell their homes much faster.<br /><br /><strong>Why All of the Controversy?</strong><br /><br />Online real estate agents and agents that operate offline have been at odds for quite some time now. The main reason for the adversity is the fact that online real estate agents are able to offer their services at a discounted rate. They also provide their customers with the convenience of browsing through listings on their own. In order to try to even the playing field, many online real estate agents were unable to access the 800 Multiple Listing Services that were affiliated with the National Association of Realtors.<br /><br />Obviously, those real estate agents that are conducting their business offline are concerned about making MLS listings available to online agents. After all, it could significantly reduce their commissions and more buyers may choose to work through an online agent rather than one that conducts business offline.<br /><br /><strong>Changes are Afoot</strong><br /><br />Obviously, restricting online real estate agents from accessing MLS listings hardly seems fair to those that conduct their business online. As such, government lawyers filed suit in the fall of 2005 against the Realtors group. The lawyers claimed that restricting access was discriminatory toward online real estate agents.<br /><br />Although the suit was filed in 2005, it was only recently that the two groups reached a settlement. The settlement has now been filed in Chicago and has made the MLS database accessible to traditional real estate agents as well as those that operate online.<br /><br /><strong>Providing Consumers with Options</strong><br /><br />In addition to ending discriminatory practices, opening up the MLS listings is beneficial to consumers as well. In fact, the Federal Trade Commission and the Justice Department both concluded last year that restricting MLS access was denying consumers the benefits of the Internet. In other words, consumers have long been saving cash on goods and services with the help of the Internet. Yet, the same was not necessarily true when it came to purchasing real estate. The agencies concluded that the main reason real estate buyers were not benefiting from the Internet was because online agents were denied access to MLS listings.<br /><br />Whether or not the MLS listing fiasco is the real barrier to using the Internet for real estate purchases remains to be seen. Nonetheless, consumers will certainly benefit when competition is increased among real estate agents – whether they exist online or off.<br /><br /><br />About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for <a href="http://www.electronicappraiser.com/">http://www.electronicappraiser.com/</a>, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about <a href="http://www.electronicappraiser.com/choosesubject.cfm">house values</a>. For more information, please visit www.electronicappraiser.com .Electronic Appraiserhttp://www.blogger.com/profile/18410765146338301621noreply@blogger.com