Housing.com News, Analysis & Opinion: Buying & Selling: NAR Vs. DOJ, Round Two

Reaction seems decidedly mixed on the Internets, with some folks over at Techdirt claiming the lawsuit is a symptom of government monopolist tendencies. While that may very well be true, the fact that it's proceeding at all in this era of laissez-faire corporatism is a blessing.

The collusive practices of realtors have contributed to an environment where buyers and sellers don't have the information they need to make the best decisions possible. Given how easy it is to become a real estate agent, and how the Internet enables such wide and open sharing of information, realtors need to adapt to a flat-fee structure or get ready to share some quality time with the dinosaurs.

Let's take down this monopoly and then set up safeguards to prevent it from happening again, shall we?

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The Justice Department's lawsuit against the National Association of Realtors for monopolistic practices has cleared to proceed. Reaction seems decidedly mixed on the Internets, with some folks over at Techdirt claiming the lawsuit is a symptom of government monopolist tendencies. While that may very well be true, the fact that it's proceeding at all in this era of laissez-faire corporatism is a blessing. The collusive practices of realtors have contributed to an environment where buyers and sellers don't have the information they need to make the best decisions possible. Given how easy it is to become a real estate agent, and how the Internet enables such wide and open sharing of information, realtors need to adapt to a flat-fee structure or get ready to share some quality time with the dinosaurs. Let's take down this monopoly and then set up safeguards to prevent it from happening again, shall we? Read Bloomberg's take via the Baltimore Sun for more information.