1, 2006), offered at http://www. realtor.org/mempolweb. nsf/pages/code. 46. Whatley, Tr. at 30. 47. Hahn, Tr. at 32. Hahn's issues are more totally established in his AEI-Brookings Paper, where he describes how the cooperative relationship amongst brokers in an MLS has the prospective to trigger harmony in services supplied and brokerage costs charged.
Other analysts have revealed similar views (how to get a real estate license in ohio). See Lawrence J. White, The Residential Realty Brokerage Industry: What Would More Energetic Competition Appear Like? 6 (New York City University School of Law, New York University Law and Economics Working Documents 51, 2006); GAO REPORT, supra note 3, at 3, 12-13 (MLS might motivate price conformity by, for example, by needing that each listing state the cost split that the working together broker will receive.
48. Hahn, Tr. at https://stephenxqwa.bloggersdelight.dk/2021/04/06/what-does-a-real-estate-broker-do-the-facts/ 32-36. 49. See Whatley, Tr. at 31 (" The MLS is strategically one of the most valuable things to me"). 50. NAR, Public Remark 208, at 5 (comment). Throughout this Report citations to "Public Remarks" refer to comments submitted in action to the Agencies' Federal Register Notice inviting remarks on the topics resolved at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public comment numbers pointed out in this Report refer to those found on the FTC's website. Some parties sent a cover letter with the public remark. Citations to submissions by these parties include a parenthetical reference either to the "remark" 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 Internet supplies useful details to buyers and sellers of real estate, by the time homes are promoted on the Web, they may be gone already; hence, the MLS is vital). 51. John H. Crockett, Competitors and Performance in Transacting: The Case of Residential Real Estate Brokerage, 10 JOURNAL OF THE AMERICAN PROPERTY AND URBAN ECONOMICS ASSOCIATION 209, 211 (1982 ).
See NAR 2006 STUDY, supra note 4, at 77. 53. 1983 FTC PERSONNEL REPORT, supra note 9, at 31. 54. See United States v. Realty Multi-List, 629 F. 2d 1351, 1370 (5th Cir. 1980) (membership in the MLS ends up being important to a broker's capability to contend 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 (what is noi 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 advantageous to smaller brokers, since it "levels the playing field" on which brokers complete.
through the regional or regional [MLS]"). See likewise Yun, Tr. at 223-24 (describing how the MLS puts small and big brokers "on equal footing"). 57. See, e. g., William C. Erxleben, Looking For Rate and Service Competitors in Residential Property Brokerage: Breaking the Cartel, 56 WASH.
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L. 179, 184-185 (1981 ); Crockett, supra note 51, at 211. For a discussion of the favorable network impacts associated with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A real estate several listing service may likewise be subject to network externalities. As each real estate broker is contributed to the system the effects are (1) that the new broker is entitled to sell the homes listed on the system by other members, hence increasing the opportunities of sale; and (2) existing members are entitled to offer the houses noted by the brand-new broker, thus providing each broker a larger stock of homes to reveal.
As an outcome, the majority of towns have a single multiple listing service, and essentially all real estate brokers except possibly 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.
Realty Multi-List, Informative post 629 F. 2d 1351 (5th Cir. 1980). 60. Id. at 1356. 61. Id. 62. Id. 63. Id. at 1369. Subsequent decisions mostly have followed this technique. 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 numerous personal lawsuits including alleged MLS-related restraints is beyond the scope of this Report. 64. Real estate Multi-List, 629 F. 2d at 1373-74 (citing A. Austin, Real Estate 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 switches on the variety of brokers who utilize the service, the total dollar amount of yearly listings, and a contrast of the rate of sales utilizing the multilisting service to the market as a whole."); see also, e.
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South Central Wisconsin MLS Corp., 450 F. 3d 312, 317 (7th Cir. 2006) (" Simply put, it is impossible to perform the tasks of a realty agent or appraiser in the appropriate geographical location without utilizing [the accused MLS] Hence, it possesses enough market power to limit competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the categories since certain business designs suit more than one category. For instance, a VOW operator may or might not likewise be a discount rate broker. 66. See GAO REPORT, supra note 3, at 19. 67. We refer to all such rebates and inducements generally as "refunds" throughout this Report.
68. See 1% Realty, Purchasing a New Home, http://www. onepercentusa.com/buy. htm (last checked out Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Representatives" Quietly Offer Real Estate Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret realty agent referral service operating in Maryland, Virginia, and the District of Columbia that uses outside of the settlement and hence off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Rules and Laws of North Texas Property Information Systems, Browse this site Inc. 5. 01-5. 02 (amended Sept. 21, 2005), offered at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Realtor Flat Fee MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last visited 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 home sellers to provide "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Charge Listing, http://www. texasdiscountrealty.com/flatfee. htm (last checked out 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 site, REALTOR.com is the "Official Site of the National Association of REALTORS").
See Farmer, Tr. at 107-08. 75. See TexasDiscountRealty. com, House Sellers, http://www. texasdiscountrealty.com/sellers1. htm (last visited April 20, 2007). 76. See Kunz, Tr. at 101 (keeping in mind that several kinds of organization models run under the Century 21 franchise). 77. See GAO Report, supra note 3, at 19-20. 78. See Testimony Summary of Russell Capper, President and President, eRealty, Inc.