U.S. Opens Antitrust Probe of Real Estate Brokerage Industry
- Justice Department issues investigative demand to CoreLogic
- Inquiry follows antitrust lawsuit against industry trade group
Photographer: Ben Nelms/Bloomberg
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U.S. antitrust officials are investigating potentially anti-competitive practices in the residential real estate brokerage business, with a focus on compensation to brokers and restrictions on their access to listings.
The probe was detailed in a civil investigative demand, which is akin to a subpoena, issued by the Justice Department to CoreLogic Inc., which provides real estate data to government agencies, lenders and other housing-market participants.