Justice Department opens MLS data to Online Brokers
Today the Justice Department helped Online Real Estate Brokers by forcing new industry policies that will give Online Brokers access to MLS data that they were previously denied. The tentative settlement would prevent Multiple Listing Services affiliated with the National Association of Realtors from blocking access to Online Real Estate Brokers if approved by the courts.
Online brokers include services like Redfin which is active in Seattle. There are a variety of approaches taken by various online services.
An article from MSN on the settlement is available here. The settlement would not take effect until late summer at the earliest, but could have an impact on the local MLS systems in Wenatchee and Chelan. Both groups are affiliated with the Realtors Association.
I will keep readers informed about any changes in the local services due to this settlement as they are announced. I believe anything that helps open up the local services information to a broader market audience will only help get clients’ properties sold. After all, that’s what the business is all about!
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