1, 2006), readily available at http://www. realtor.org/mempolweb. nsf/pages/code. 46. Whatley, Tr. at 30. 47. Hahn, Tr. at 32. Hahn's issues are more completely developed in his AEI-Brookings Paper, where he describes how the cooperative relationship among brokers in an MLS has the possible to generate uniformity in services supplied and brokerage costs charged.
Other analysts have expressed comparable views (how to become a real estate agent in illinois). See Lawrence J. White, The Residential Property Brokerage Industry: What Would More Vigorous Competition Appear Like? 6 (New York University School of Law, New York City University Law and Economics Working Documents 51, 2006); GAO REPORT, supra note 3, at 3, 12-13 (MLS may motivate cost conformity by, for example, by needing that each listing state the cost split that the working together broker will get.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is strategically one of the most valuable things to me"). 50. NAR, Public Comment 208, at 5 (remark). Throughout this Report citations to "Public Comments" refer to comments sent in response to the Agencies' Federal Register Notice inviting discuss the topics addressed at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The public comment numbers pointed out in this Report refer to those found on the FTC's site. Some celebrations sent a cover letter with the public remark. Citations to submissions by these celebrations consist of a parenthetical reference either to the "comment" or the "cover letter." The general public remarks are available at http://www.
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htm and http://www. usdoj.gov/ atr/public/workshops/ reworkshop_rewcomments. htm. See likewise Whatley, Tr. at 160- 61 (although the Web supplies helpful information to buyers and sellers of property, by the time residential or commercial properties are advertised on the Web, they may be gone already; hence, the MLS is essential). 51. John H. Crockett, Competition and Performance in Negotiating: The Case of Residential Real Estate Brokerage, 10 JOURNAL OF THE AMERICAN REAL ESTATE AND URBAN ECONOMICS ASSOCIATION 209, 211 (1982 ).
See NAR 2006 STUDY, supra note 4, at 77. 53. 1983 FTC STAFF REPORT, supra note 9, at 31. 54. See United States v. Realty Multi-List, 629 F. 2d 1351, 1370 (5th Cir. 1980) (subscription in the MLS becomes important to a broker's capability to compete efficiently on equivalent terms); GAO REPORT, supra note 3, at 12.
South Central Wisconsin MLS Corp., 450 F. 3d 312 (7th Cir. 2006); Thompson v (how to make money in real estate). Metropolitan Multi-List, Inc., 934 F. 2d 1566 (11th Cir. 1991). 55. See Whatley, Tr. at 39-40. 56. White, supra note 47, at 4. According to NAR, the MLS has been especially useful to smaller brokers, because it "levels the playing field" on which brokers complete.
through the regional or local [MLS]"). See also Yun, Tr. at 223-24 (describing how the MLS puts little and large brokers "on equal footing"). 57. See, e. g., William C. Erxleben, Searching For Cost and Service Competition in Residential Realty Brokerage: Breaking the Cartel, 56 WASH.
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L. 179, 184-185 (1981 ); Crockett, supra note 51, at 211. For a conversation of the favorable network impacts associated with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A real estate multiple listing service might also undergo network externalities. As each property broker is contributed to the system the consequences are (1) that the new broker is entitled to offer the homes noted on the system by other members, thus increasing the chances of sale; and (2) existing members are entitled to offer your homes noted by the brand-new broker, thus offering each broker a bigger inventory of houses to reveal.
As an outcome, the majority of towns have a single multiple listing service, and virtually all real estate brokers except perhaps a few extremely specialized ones are members. Id. 2220b4, at 343. 58. See, e. g., Reifert, 450 F. 3d at 317; Metropolitan Multi-List, 934 F. 2d at 1579-80; Real estate Multi-List, 629 F. 2d at 1356.
Real estate Multi-List, 629 F. 2d 1351 (5th Cir. 1980). 60. Id. at 1356. 61. Id. 62. Id. 63. Id. at 1369. Subsequent choices mostly have followed this approach. See, e. g., Metropolitan Multi- List, 934 F. 2d at 1579-80; Austin Bd. of Realtors v. E-Realty, Inc., No. Civ. A-00-CA-154 JN, 2000 WL 34239114, at * 4 (W.D.
Mar. 30, 2000). A discussion of the various personal lawsuits involving declared MLS-related restraints is beyond the https://jeffreyfqhd604.sitey.me/blog/post/490469/indicators-on-what-is-redlining-in-real-estate-you-need-to-know scope of this Report. 64. Real estate Multi-List, 629 F. 2d at 1373-74 (citing A. Austin, Property Boards and Several Listing Systems as Restraints of Trade, 70 COLUMBIA L. REV. 1325, 1346 (1970 )); accord Metropolitan Multi-List, 934 F. 2d at 1580 (" Market power turns on the variety of brokers who utilize the service, the total dollar quantity of annual listings, and a contrast of the rate of sales utilizing the multilisting service to the market as a whole."); see likewise, e.
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South Central Wisconsin MLS Corp., 450 F. 3d 312, 317 (7th Cir. 2006) (" In other words, it is difficult to carry out the tasks of a genuine estate agent or appraiser in the relevant geographical location without using [the defendant MLS] Thus, it has enough market power to restrain competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap between the categories since certain service designs suit more than one classification. For example, a VOW operator might or might not likewise be a discount broker. 66. See GAO REPORT, supra note 3, at 19. 67. We refer to all such rebates and temptations usually as "refunds" throughout this Report.
68. See 1% Real Estate, Purchasing a New Home, http://www. onepercentusa.com/buy. htm (last visited Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Representatives" Quietly Offer Realty Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret realty representative referral Click here for more info service operating in Maryland, Virginia, and the District of Columbia that provides outside of the settlement sell my timeshare and therefore off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Rules and Regulations of North Texas Property Information Systems, Inc. 5. 01-5. 02 (changed Sept. 21, 2005), available at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Real Estate Agent Flat Charge MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last gone to April 20, 2007) (2-3 percent commission for broker that finds a purchaser); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last checked out April 20, 2007) (enabling house sellers to provide "a 3% commission or more" to buyers' brokers); TexasDiscountRealty. com, Flat Cost Listing, http://www. texasdiscountrealty.com/flatfee. htm (last visited April 20, 2007) (3 percent commission for a broker that finds a buyer). 73. REALTOR.com, http://www. realtor.com (last gone to April 20, 2007) (according to its website, REALTOR.com is the "Official Site of the National Association of REALTORS").
See Farmer, Tr. at 107-08. 75. See TexasDiscountRealty. com, Home Sellers, http://www. texasdiscountrealty.com/sellers1. htm (last gone to April 20, 2007). 76. See Kunz, Tr. at 101 (noting that a number of types of company models operate under the Century 21 franchise). 77. See GAO Report, supra note 3, at 19-20. 78. See Testament Summary of Russell Capper, President and Ceo, eRealty, Inc.