For Sale Signs Coming To An Internet Near You
With the settlement, NAR will enact a new policy that guarantees that Internet-based brokerage companies will not be treated differently than traditional brokers. Under the new policy, brokers participating in a NAR-affiliated MLS will not be permitted to withhold their listings from brokers who serve their customers through virtual office websites.
In addition, brokers will be able to use their Web sites to educate consumers, make referrals, and conduct brokerage services. Such brokers will not be excluded from MLS membership based on their business model. NAR will report to the Department any allegations of noncompliance.
Look for this to put intense pressure on traditional realtors to drop their fees. The Internet is for houses now.