Sunday, October 21, 2007

DOJ going after National Association of Realtors for Antitrust

I personally love Realtors. OK, maybe I don't "love" them but they do a lot of the work I don't want to when it comes to finding a particular property and they can be worth their weight in gold. There are a few I couldn't live without and, unfortunately, a lot I hope to never hear from again. I have to agree that the traditional fee for services is in need of a serious revamping.

Dealing with Realtors daily I know first hand why they are considered probably the most dishonest profession out there today which is unfortunate because there are a lot of outstanding and dedicated Realtors who take their job and clients needs seriously. In a field such as this it is often true that one bad apple ruins the whole bunch. With the low barrier of entry there seems to be to many bad apples and not enough good. While this antitrust suit isn't strictly about the incompetence of to many Realtor's, NAR has to realize that raising the standards for entry into the field would only benefit everyone.

I will let you form your own opinion on the subject. You can read about the antitrust complaint here (pdf document) and head over to the Competition and Real Estate antitrust division of the DOJ website.