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 explains how the cooperative relationship among brokers in an MLS has the prospective to trigger uniformity in services provided and brokerage fees charged.
Other analysts have actually expressed comparable views (how to become a real estate broker in florida). See Lawrence J. White, The Residential Real Estate 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 charge split that the cooperating broker will receive.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is tactically among the most valuable things to me"). 50. NAR, Public Remark 208, at 5 (remark). https://travishjbi391.skyrock.com/3341139020-The-4-Minute-Rule-for-How-To-Buy-Commercial-Real-Estate.html Throughout this Report citations to "Public Comments" refer to comments sent in Browse around this site response to the Agencies' Federal Register Notification welcoming remarks on the topics attended to at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public remark numbers mentioned in this Report refer to those discovered on the FTC's site. Some celebrations submitted a cover letter with the public remark. Citations to submissions by these parties include a parenthetical referral 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 provides helpful information to buyers and sellers of property, by the time homes are advertised on the Web, they may be gone already; therefore, the MLS is crucial). 51. John H. Crockett, Competitors and Effectiveness in Transacting: The Case of Residential Real Estate Brokerage, 10 JOURNAL OF THE AMERICAN REALTY AND URBAN ECONOMICS ASSOCIATION 209, 211 (1982 ).
See NAR 2006 SURVEY, 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 ends up being vital to a broker's ability to complete effectively on equal terms); GAO REPORT, supra note 3, at 12.
South Central Wisconsin MLS Corp., 450 F. 3d 312 (7th Cir. 2006); Thompson v (how to become a commercial real estate agent). 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 specifically advantageous to smaller sized brokers, because it "levels the playing field" on which brokers contend.
through the local or regional [MLS]"). See likewise Yun, Tr. at 223-24 (describing how the MLS puts little and large brokers "on equivalent footing"). 57. See, e. g., William C. Erxleben, In Search of Price 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 genuine estate numerous listing service might likewise undergo network externalities. As each property broker is added to the system the repercussions are (1) that the new broker is entitled to offer your houses noted on the system by other members, hence increasing the possibilities of sale; and (2) existing members are entitled to offer the houses noted by the new broker, therefore offering each broker a larger stock of homes to show.
As an outcome, most municipalities have a single several listing service, and virtually all real estate brokers except maybe a couple of highly specialized ones are members. Look at more info 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 decisions largely 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 conversation of the various personal litigation 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, Property Boards and Multiple 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 number of brokers who use the service, the total dollar amount of annual listings, and a contrast of the rate of sales using 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 carry out the jobs of a genuine estate representative or appraiser in the relevant geographic area without using [the offender MLS] Hence, it has adequate market power to limit competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap between the classifications due to the fact that particular company models fit into more than one classification. For instance, a VOW operator might or might not likewise be a discount rate broker. 66. See GAO REPORT, supra note 3, at 19. 67. We describe all such rebates and incentives usually as "refunds" throughout this Report.
68. See 1% Realty, Buying a New House, http://www. onepercentusa.com/buy. htm (last checked out Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Representatives" Silently Offer Real Estate Rebates, INMAN NEWS, Mar. 7, 2006 (explaining secret realty agent referral service operating in Maryland, Virginia, and the District of Columbia that offers outside of the settlement and hence off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Guidelines and Regulations of North Texas Real Estate Information Systems, Inc. 5. 01-5. 02 (modified Sept. 21, 2005), offered at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Real Estate Agent 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 buyer); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last visited April 20, 2007) (enabling house sellers to offer "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Cost Listing, http://www. texasdiscountrealty.com/flatfee. htm (last gone to April 20, 2007) (3 percent commission for a broker that discovers a purchaser). 73. REALTOR.com, http://www. realtor.com (last checked out April 20, 2007) (according to its site, REALTOR.com is the "Official Website 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 visited April 20, 2007). 76. See Kunz, Tr. at 101 (noting that numerous types of company models operate under the Century 21 franchise). 77. See GAO Report, supra note 3, at 19-20. 78. See Statement Summary of Russell Capper, President and President, eRealty, Inc.