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 concerns are more totally developed in his AEI-Brookings Paper, where he explains how the cooperative relationship among brokers in an MLS has the possible to generate harmony in services provided and brokerage costs charged.
Other analysts have revealed comparable views (what is noi in real estate). See Lawrence J. White, The Residential Real Estate Brokerage Market: What Would More Energetic Competition Look 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 may motivate rate conformity by, for example, by requiring that each listing state the charge split that the cooperating 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" describe remarks submitted in response to the Agencies' Federal Register Notification inviting discuss the subjects attended to at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public comment numbers mentioned in this Report describe those found on the FTC's site. Some celebrations sent a cover letter with the public remark. Citations to submissions by these celebrations include a parenthetical recommendation either to the "comment" or the "cover letter." The public remarks are readily 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 beneficial info to buyers and sellers of realty, by the time residential or commercial properties are promoted on the Web, they may be gone currently; therefore, the MLS is vital). 51. John H. Crockett, Competitors and Effectiveness in Transacting: The Case of Residential Realty 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. Real Estate Multi-List, 629 F. 2d 1351, 1370 (5th Cir. 1980) (membership in the MLS becomes necessary to a broker's ability 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 does mls stand for in real estate). Metropolitan Multi-List, Inc., 934 F. 2d 1566 (11th Cir. 1991). 55. See Whatley, Tr. at 39-40. 56. White, supra Learn more note 47, at 4. According to NAR, the MLS has been especially useful to smaller brokers, since 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 timeshare freedom group puts little and big brokers "on equal footing"). 57. See, e. g., William C. Erxleben, Searching For Cost and Service Competition 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 connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A real estate numerous listing service may likewise go through network externalities. As each property broker is added to the system the consequences are (1) that the brand-new broker is entitled to sell the homes listed on the system by other members, hence increasing the possibilities of sale; and (2) existing members are entitled to offer the houses listed by the brand-new broker, therefore offering each broker a bigger inventory of houses to show.
As a result, the majority of municipalities have a single numerous listing service, and essentially all realty brokers other than 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.
Realty 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 conversation of the different personal lawsuits including alleged MLS-related restraints is beyond the scope of this https://knoxqlio879.godaddysites.com/f/top-guidelines-of-what-does-contingent-mean-real-estate Report. 64. Realty Multi-List, 629 F. 2d at 1373-74 (citing A. Austin, Real Estate Boards and Numerous 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 number of brokers who utilize the service, the overall dollar quantity of yearly listings, and a comparison 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 short, it is impossible to perform the jobs of a realty representative or appraiser in the relevant geographical area without utilizing [the accused MLS] Hence, it has sufficient market power to restrain competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap between the classifications since specific organization designs suit more than one category. For instance, a VOW operator might or might not likewise be a discount broker. 66. See GAO REPORT, supra note 3, at 19. 67. We describe all such rebates and temptations usually as "refunds" throughout this Report.
68. See 1% Realty, Purchasing a New House, http://www. onepercentusa.com/buy. htm (last checked out Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Agents" Silently Deal Property Rebates, INMAN NEWS, Mar. 7, 2006 (explaining secret property agent recommendation service operating in Maryland, Virginia, and the District of Columbia that provides outside of the settlement and therefore off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Guidelines and Laws of North Texas Realty 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 Realtor Flat Charge MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last checked out 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) (permitting house sellers to provide "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 finds a purchaser). 73. REALTOR.com, http://www. realtor.com (last gone to April 20, 2007) (according to its site, REALTOR.com is the "Authorities 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 checked out April 20, 2007). 76. See Kunz, Tr. at 101 (keeping in mind that several kinds of business designs 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.