NAR alleges that REX-Real Estate Exchange’s claims deceive consumers and discourage them from “pro-consumer, pro-competitive benefits” provided by Realtors.
WASHINGTON – The National Association of Realtors (NAR) filed a lawsuit stating that REX-Real Estate Exchange Inc. has made false and misleading advertisements and statements about its services. NAR says those statements deceive consumers and discourage them from “obtaining the pro-consumer, pro-competitive benefits provided by NAR members and independent, local multiple listing services marketplaces.”
“NAR will oppose attempts to mislead consumers, including attempts to mislead consumers about buying or selling a home generally or about the services or cost of using Realtors, most of whom are small businesspeople,” says NAR President Leslie Rouda Smith.
“The truth is that if homebuyers and sellers are deceived into avoiding multiple listing services (MLS), they would lose the services’ pro-consumer, pro-competitive benefits,” Smith says. “Sellers lose exposure to the largest available pool of buyers, and buyers lose access to the largest available pool of properties for sale. Our goal with this action is to protect consumers.”
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