By: Staff reports
Contracts With Realtors May Be Unfair Competition
Homestore.com and its network of sites have been questioned by federal anti-trust
investigators about contracts with several of the largest residential property listing
services, the Los Angeles Times reports.
Antitrust lawyers have asked the Thousand Oaks-based firm to provide details about its
business strategy that includes a relationship with the National Association of Realtors
which gives Homestore 95% of the nation’s home listings totaling 1.3 million.
Critics and competitors of Homestore claim sellers are harmed because their homes are
limited to only one Web site.
Homestore told the Times that the Justice Department has not alleged the company violated
the law, adding that antitrust officials requested information as part of a broader
investigation about how the online real estate market works.
Homestore.com has six Web sites serving the real estate industry including Realtor.com,
HomeBuilder.com, SpringStreet.com, HomeFair.com, and CommercialSource.com.
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