Tag Archives: DOJ

NAR, DOJ, VOW – Am I the only one dizzy from the spin?

So the National Association of REALTORS loses a Dept. of Justice suit over NAR’s Virtual Office Website (VOW) policy, but calls it a “favorable settlement” and “clearly a win-win for the real estate industry and consumers.”
The bloggers are saying variously that agent commissions will plummet; consumers will be served by cyber agents with no fiduciary responsibility; and that homeowners will have more control over what is published about their properties on the Internet (Zillow comes to mind); that they will have less control; that the nation’s MLSs will become stronger; or weaker.
I don’t have the time for the kind of analysis it will take to sort through this, so here is an assignment for you:
Explain in 100 words or less what all this means.
Start with this document from NAR.
Then check out these blog posts.
From Active Rain
From Inman
From Active Rain
From the Real Estate Bloggers
From Sellsius

I am going to wait a few days and see what happens.

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