DOJ Launches Real Estate Site
Antitrust officials at the Justice Department launched a new Web site on Wednesday aimed at educating consumers and policymakers about the potential benefits that competition can bring in the arena of real estate brokerage services.
The site includes maps identifying states with real estate laws that can inhibit competitiveness, a calculator to help users tally their potential savings when brokers pursuing new business models compete for their business, and links to additional government resources.
The estimated median commission paid by home sellers in 2006 was $11,672, but new brokerage models have the potential to reduce that by thousands of dollars, officials said. But in a number of states, laws make it illegal for brokers to offer rebates or requiring them to offer services that consumers may not want, the agency said.
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