The Norwegian Ministry of Government Administration and Reform has established a regulation that requires internet portals to provide anyone access to residential property advertisements on non-discriminatory conditions.
The Norwegian Competition Authority proposed such a regulation earlier this year. Following the new regulation, anyone shall be able to post advertisements for residential properties on internet portals without having to go through an estate agent.
«This will open the door for new actors, allowing them to compete with traditional estate agents, thereby enhancing competition on the market. Increased competition may result in reduced transaction costs for people selling residential properties, which may in turn result in lower property prices», says head of section Eivind Stage.
The regulation will enter into force on 1 January 2010.