NYT - WASHINGTON — The Justice Department and the National Association of Realtors reached a major antitrust settlement Tuesday that government officials said should spur competition among brokers and ultimately bring down hefty sales commissions.The deal frees Internet brokers and other real-estate agents offering heavily discounted commissions to operate on a level playing field with traditional brokers by using the multiple listing services that are the lifeblood of the industry, government officials said.The Justice Department sued the National Association of Realtors in federal court in 2005 on antitrust grounds, charging that its policies were stifling competition and hurting consumers. That case was scheduled to go to trial in Chicago in July.The settlement “is a win for consumers, certainly, who will now have the benefit of unrestricted competition,” Deborah A. Garza, deputy assistant attorney general for antitrust, said in an interview. “There inevitably will be more efficiency and more competition in the market.”Real estate agents earned $93 billion in commissions in 2006, with a median commission of about $11,600, Justice Department officials said. Internet brokers, offering pared-down services, provided average rebates of 1 percent on commissions that normally ran 5 or 6 percent, translating into thousands of dollars per sale.Consumer advocates hailed the settlement as an important and somewhat surprising step by the Bush administration, which has staked out a position on many antitrust issues seen as favorable to business interests. http://www.nytimes.com/2008/05/28/business/28realty.html?ex=1369713600&en=aed6850aff4f7006&ei=5124&partner=permalink&exprod=permalink
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