1, 2006), offered at http://www. realtor.org/mempolweb. nsf/pages/code. 46. Whatley, Tr. at 30. 47. Hahn, Tr. at 32. Hahn's concerns are more completely developed in his AEI-Brookings Paper, where he explains how the cooperative relationship among brokers in an MLS has the potential to generate harmony in services offered and brokerage charges charged.
Other experts have revealed comparable views (how to become a real estate agent in va). See Lawrence J. White, The Residential Property Brokerage Industry: What Would More Energetic Competition Appear Like? 6 (New York City 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 might encourage price conformity by, for instance, by requiring that each listing state the charge split that the complying broker will get.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is strategically among the most valuable things to me"). 50. NAR, Public Remark 208, at 5 (comment). Throughout this Report citations to "Public Remarks" describe remarks sent in action to the Agencies' Federal Register Notification welcoming comments on the subjects resolved at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public remark numbers pointed out in this Report refer to those discovered on the FTC's website. Some celebrations submitted a cover letter with the public comment. Citations to submissions by these parties include a parenthetical reference either to the "comment" or the "cover letter." The general public remarks are offered 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 purchasers and sellers of realty, by the time homes are promoted on the Web, they may be gone already; thus, the MLS is crucial). 51. John H. Crockett, Competition and Performance in Negotiating: The Case of Residential Property 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 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 vital to a broker's capability to complete effectively 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 get real estate license in ga). 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 actually been specifically helpful to smaller sized brokers, because it "levels the playing field" on which brokers complete.
through the local or local [MLS]"). See also Yun, Tr. at 223-24 (explaining how the MLS puts small and http://dominicknzww205.over-blog.com/2021/04/unknown-facts-about-how-to-find-a-real-estate-agent.html large brokers "on equivalent 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 discussion of the favorable network results related to MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A real estate several listing service might also be subject to network externalities. As each realty broker is included to the system the effects are (1) that the new broker is entitled to offer the homes listed on the system by other members, thus increasing the possibilities of sale; and (2) existing members are entitled to sell your houses noted by the new broker, hence giving each broker a bigger stock of houses to show.
As a result, many towns have a single numerous listing service, and virtually all property brokers other than possibly a couple of highly 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, 629 F. 2d 1351 (5th Cir. 1980). 60. Id. at 1356. 61. Id. 62. Id. 63. Id. at 1369. Subsequent choices mainly have actually 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 different private litigation including declared MLS-related restraints is beyond the scope of this Report. 64. Real estate Multi-List, 629 F. 2d at 1373-74 (pointing out 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 switches on the variety of brokers who utilize the service, the overall dollar amount of yearly listings, and a comparison of the rate of sales using the multilisting service to the marketplace as a whole."); see also, e.
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South Central Wisconsin MLS Corp., 450 F. 3d 312, 317 (7th Cir. 2006) (" In other words, it is impossible to carry out the jobs of a genuine estate agent or appraiser in the pertinent geographical location without utilizing [the defendant MLS] Therefore, it possesses sufficient market power to restrain competition."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap between the categories due to the fact that certain service designs suit more than one category. For example, a VOW operator might or may not likewise be a discount rate broker. 66. Go to this website See GAO REPORT, supra note 3, at 19. 67. We refer to all such rebates and temptations generally as "refunds" throughout this Report.
68. See 1% Realty, Purchasing a New Home, http://www. onepercentusa.com/buy. htm (last visited Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Agents" Quietly Offer Property Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret real estate representative referral service operating in Maryland, Virginia, and the District of Columbia that provides beyond the settlement and thus off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Rules and Regulations of North Texas Real Estate Information Systems, Inc. 5. 01-5. 02 (modified Sept. 21, 2005), available at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Real Estate Agent Flat Cost timeshare wyndham 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 buyer); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last gone to April 20, 2007) (enabling house sellers to offer "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Fee Listing, http://www. texasdiscountrealty.com/flatfee. htm (last checked out 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, House Sellers, http://www. texasdiscountrealty.com/sellers1. htm (last gone to April 20, 2007). 76. See Kunz, Tr. at 101 (noting that numerous kinds 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.