WASHINGTON - The board of directors of the National Association of Realtors agreed Saturday to rework its policy on Internet home sales in an attempt to head off an antitrust clash with the federal government.
The Justice Department has been investigating whether competition would be stifled by a proposed rule that would allow real estate brokers to withhold their detailed listings of properties for sale from the Web sites of competitors.
"We hope that we can find a common ground with the Justice Department, but we want to make it absolutely clear that we are reserving the right to defend our policy," association President Al Mansell, who is chief executive of a Coldwell Banker Residential Brokerage in Salt Lake City, said in a statement Saturday. "Today's board action demonstrates that we are entering these discussions in good faith."
A conflict has long been simmering within the real estate business between traditional full-service brokerages and newer Internet-based discount companies over the control of listings.
It came to a boil this week as the Realtors association, whose members include about a million real estate agents, held its mid-year meeting in Washington as the Justice Department was considering an antitrust suit over the group's Internet policy.
The association acknowledged that it has been in a dispute for 20 months with the Justice Department. Justice Department spokespeople confirmed that regulators have been investigating the impact on competition, but they would not say whether a lawsuit was being prepared.
The department's public affairs office Saturday did not return calls seeking comment.
Stephen Cook, a spokesman for the Realtors association, said Saturday that more meetings with regulators have not been scheduled, but they will be.
"We view this as the beginning of a series of discussions with the attorneys at Justice."
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