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The FTC and the Austin Board of Realtors have reached an agreement not to bar discount brokers from their websites and marketing efforts for the next 10 years. This will allow the regions discount brokers the same access to customers as the full service brokers.

The industry has many more tools for the buyer and seller to use that do not require agents to help. 74 percent of buyers start their search on the internet, something that 10 years ago required the buyer to visit an agent to see what was on  the market or drive around looking for for sale signs.

If a seller and buyer can utilize these tools without putting an unfair burden on the agents, then they should be able to get a discount on the sale of a home. It provides a nice buffer between the for sale by owner and full service offerings.

The Federal Trade Commission said Thursday that the Austin Board of Realtors had illegally blocked competition in the home sale market with a policy that blocked listings by discount brokers from the primary home search Web site in Central Texas.
The nation’s top consumer protection agency said the policy effectively discouraged owners from using a potentially lower cost way of selling their homes and reduced the ability of buyers to fully use the Internet to look for properties.

FTC cites Austin real estate board for blocking competition

Related posts:

1. Discount Real Estate Firm Pressures Traditional Brokers
2. As Housing Market Slows, Brokers Using New Tools To Attract Listings
3. Internet Causes GMAC Real Estate To Close 15 Offices in Massachusetts and New Hampshire
4. Houston Implements New Rating System For Realtors
5. Houston and Austin Real Estate Markets are Still Strong