NAR Complies with Anti-Trust Investigation on Listings Data Display

10/9/2003

From: Steve Cook of the National Association of Realtors(r), 202-383-1014; e-mail: scook@realtors.org

CHICAGO, Oct. 9 -- The National Association of Realtors(r) today announced it has received and is complying with a request for information from the Antitrust Division of the Department of Justice for information relating to association policies and rules governing the display by real estate brokers of residential listings data on or through the Internet.

The Civil Investigation Demand was received last month and it addresses policies such as NAR's Internet Data Exchange (IDX) and Virtual Office Website (VOW) policies. NAR believes its policies relating to Internet use of multiple listing service (MLS) listing data are lawful and appropriate, and intends to continue to cooperate fully with the Department of Justice.

NAR's VOW policy allows brokers who participate in the nation's approximately 900 multiple listing services to display MLS property listing data when providing online brokerage services to consumers via Internet websites, also known as virtual office websites. The policy also protects the integrity and security of that data, respects sellers' rights to privacy and maintains the viability of the MLS system. The NAR Board of Directors approved the policy, which is the result of over a year of research and careful deliberation by two NAR work groups, at the association's Midyear Meetings last May.

The National Association of Realtors(r), "The Voice for Real Estate," is America's largest trade association, representing more than 950,000 members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at http://realtor.org. This and other news releases are posted in the Web site's "News Media" section under NAR News Releases.