The U.S. Justice Department has launched a 'formal inquiry' into the California Association of Realtors' contracts and forms following complaints of 'anti-consumer provisions' by a national consumer group.
CAR has been revising standard forms to comply with a national real estate commission settlement, including banning home-sales agents from posting offers to pay buyer commissions in an MLS.
CAR announced the delay of 19 forms after DoJ's inquiry, without revealing details. DoJ has not disclosed concerns either, as investigations into anti-consumer practices continue.
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