1, 2006), 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 fully developed in his AEI-Brookings Paper, where he describes how the cooperative relationship amongst brokers in an MLS has the potential to trigger harmony in services supplied and brokerage charges charged.
Other experts have expressed comparable views (how much does real estate agents make). See Lawrence J. White, The Residential Property Brokerage Market: What Would More Vigorous Competition Look 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 may motivate price conformity by, for example, by needing that each listing state the fee split that the complying broker will receive.
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 Learn here Comment 208, at 5 (remark). Throughout this Report citations to "Public Comments" describe comments submitted in action to the Agencies' Federal Register Notice inviting comments on the subjects resolved at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The public remark numbers pointed out in this Report describe those discovered on the FTC's website. Some celebrations submitted a cover letter with the general public comment. Citations to submissions by these parties consist of a parenthetical recommendation 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 Internet provides beneficial information to purchasers and sellers of realty, by the time residential or commercial properties are marketed on the Internet, they may be gone already; hence, the MLS is essential). 51. John H. Crockett, Competition and Efficiency in Negotiating: The Case of Residential Property Brokerage, 10 JOURNAL OF THE AMERICAN PROPERTY 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) (subscription in the MLS ends up being vital to a broker's ability to compete 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 (what is cam in real estate). Metropolitan Multi-List, Inc., 934 F. 2d 1566 (11th Cir. 1991). 55. See Whatley, Tr. at Discover more 39-40. 56. White, supra note 47, at 4. According to NAR, the MLS has actually been specifically beneficial to smaller sized brokers, due to the fact that it "levels the playing field" on which brokers compete.
through the regional or local [MLS]"). See likewise Yun, Tr. at 223-24 (explaining how the MLS puts little and large brokers "on equal footing"). 57. See, e. g., William C. Erxleben, Looking For 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 discussion of the positive network impacts related to MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A genuine estate several listing service might likewise undergo network externalities. As each realty broker is added to the system the repercussions are (1) that the new broker is entitled to sell your houses noted on the system by other members, hence increasing the opportunities of sale; and (2) existing members are entitled to offer the houses listed by the new broker, thus offering each broker a larger stock of houses to reveal.
As an outcome, most towns have a single several listing service, and essentially all genuine 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, 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 https://zanexyge587.medium.com/how-to-be-successful-in-real-estate-fundamentals-explained-8e9997ac3cae?source=your_stories_page------------------------------------- WL 34239114, at * 4 (W.D.
Mar. 30, 2000). A conversation of the numerous personal litigation including declared MLS-related restraints is beyond the scope of this Report. 64. Realty Multi-List, 629 F. 2d at 1373-74 (citing A. Austin, Realty 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 switches on the number of brokers who utilize the service, the total dollar amount of annual listings, and a comparison 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) (" In other words, it is difficult to perform the jobs of a property agent or appraiser in the appropriate geographical area without utilizing [the accused MLS] Thus, it possesses adequate market power to restrain competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the categories since specific company designs fit into more than one category. For instance, a VOW operator may or might not also be a discount broker. 66. See GAO REPORT, supra note 3, at 19. 67. We refer to all such rebates and incentives normally as "refunds" throughout this Report.
68. See 1% Realty, Purchasing a New Home, http://www. onepercentusa.com/buy. htm (last went to Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Representatives" Quietly Offer Genuine Estate Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret real estate representative recommendation service operating in Maryland, Virginia, and the District of Columbia that offers outside of the settlement and thus off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Guidelines and Laws of North Texas Property Information Systems, Inc. 5. 01-5. 02 (modified Sept. 21, 2005), readily available 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 gone to April 20, 2007) (2-3 percent commission for broker that discovers a purchaser); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last checked out April 20, 2007) (permitting house sellers to use "a 3% commission or more" to buyers' brokers); TexasDiscountRealty. com, Flat Fee Listing, http://www. texasdiscountrealty.com/flatfee. htm (last visited April 20, 2007) (3 percent commission for a broker that discovers a buyer). 73. REALTOR.com, http://www. realtor.com (last checked out April 20, 2007) (according to its website, 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 numerous types of organization 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 Ceo, eRealty, Inc.