Real estate competition fierce, experts say

RealtorMag

Companies representing nontraditional business models have reached a tipping point in the residential real estate business and account for a substantial portion of brokerages today, industry experts said yesterday at a workshop on competition in real estate hosted by the Federal Trade Commission and the U.S. Department of Justice.

The two agencies are using the end of a 10-year consent decree between the Justice Department and the National Association of REALTORS® later this year as an opportunity to examine the level of competition in the industry. The workshop yesterday, called What’s New in Residential Real Estate Brokerage Competition, brought together professionals from brokerages, MLSs, and technology companies, as well as academics, to discuss the state of new business models, price competition, and the availability of listing data to consumers.

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