Justice Sues Over Wrong Policy, Says National Association of Realtors

Justice Sues Over Wrong Policy, Says National Association of Realtors CHICAGO--(BUSINESS WIRE)--Sept. 9, 2005--The Department of Justice has sued the National Association of Realtors(R) over a policy that no longer exists, according to the government's complaint filed yesterday in U.S. District Court here. In the 14-page complaint, only one paragraph mentions the new Internet Listing Display (ILD) policy enacted by the association last week. The balance of the document refers to a former policy, known as Virtual Office Websites (VOW). The suit primarily challenges three provisions of the former policy, two of which are not part of the new ILD policy. The one provision challenged by government in its complaint that still exists in the new NAR policy governs brokers' ability to opt out of displaying their listings on competitors' Web sites. The suit mischaracterized the purpose and effect of the provision, which was intended to protect brokers' ownership rights in their property listings. NAR has discussed provisions of the new policy with Department of Justice attorneys since May and provided them the new policy before it was made public yesterday. "The new policy results in part from the discussions NAR held with the Justice Department over the past four months. We listened to what they had to say and they helped us to come up with a significantly better policy. We're shocked and disappointed that after all these discussions, they would sue us over a policy that no longer exists. We would like to encourage them to revisit their decision," said Laurie Janik. She reiterated her confidence in NAR's legal position. The new ILD policy consolidates and replaces both the VOW policy and NAR's Internet Data Exchange (IDX) policy to create a single, unified policy governing the Internet display of all property information originating from the more than 800 multiple listing services owned and operated by Realtor(R) organizations. All MLS property listing data available for display will automatically be available to all MLS members unless a member notifies the MLS in advance that he or she does not want to participate in Internet Listing Display. In that case, none of the listings he or she enters into the MLS will be available for display on other brokers' Web sites nor will he or she be allowed to display other brokers' listings on his or her own Web site. A broker who has elected to "opt out" may not reverse that decision for 90 days. This provision, known as "blanket opt-out," is included in the IDX policy and has been in force by hundreds of MLSs for three and a half years. It has been widely accepted by the industry and very few brokers have chosen to opt out. The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries. NOTE: Reporters may obtain copies of the Justice Department filing by calling NAR Public Affairs at 202-383-1000. Information about NAR is available at http://www.realtor.org. This and other news releases are posted in the Web site's "News Media" section in the NAR Media Center. REALTOR(R) is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics.

Contacts National Association of Realtors Steve Cook, 202-383-1014 202-257-3652 (cell) scook@realtors.org