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 established in his AEI-Brookings Paper, where he describes how the cooperative relationship among brokers in an MLS has the possible to generate harmony in services offered and brokerage fees charged.
Other experts have expressed similar views (how to get real estate license in ga). See Lawrence J. White, The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like? 6 (New York 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 encourage rate conformity by, for example, by requiring that each listing state the fee split that the working together broker will get.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is tactically among the most important things to me"). 50. NAR, Public Comment 208, at 5 (remark). Throughout this Report citations to "Public Remarks" refer to comments sent in response to the Agencies' Federal Register Notification inviting talk about the subjects resolved at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public comment numbers cited in this Report refer to those discovered on the FTC's website. Some celebrations sent a cover letter with the general public remark. Citations to submissions by these parties consist of a parenthetical recommendation either to the "comment" or the "cover letter." The general public comments are readily available at http://www.
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htm and http://www. usdoj.gov/ atr/public/workshops/ reworkshop_rewcomments. htm. See also Whatley, Tr. at 160- 61 (although the Web provides helpful information to purchasers and sellers of property, by the time residential or commercial properties are marketed on the Web, they might be gone currently; thus, the MLS is important). 51. John H. Crockett, Competitors and Performance in Negotiating: The Case of Residential Property 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) (subscription in the MLS becomes 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 (how to make money in real estate with no money). 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 beneficial to smaller sized brokers, since it "levels the playing field" on which brokers compete.
through the local or regional [MLS]"). See likewise Yun, Tr. at 223-24 (explaining how the MLS puts small and big brokers "on equal footing"). 57. See, e. g., William C. Erxleben, In Search of Price 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 conversation of the positive network results connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A property numerous listing service might also undergo network externalities. As each property broker is added to the system the effects are (1) that the new broker is entitled to offer the houses noted on the system by other members, thus increasing the possibilities of sale; and (2) existing members are entitled to sell your houses listed by the new broker, thus providing each broker a bigger inventory of houses to reveal.
As an outcome, a lot of towns have a single numerous listing service, and practically all real estate brokers other than maybe 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; Realty 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 largely have actually 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 various private lawsuits involving alleged 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, Realty Boards and Several Listing Systems as Restraints of Trade, 70 COLUMBIA L. REV. 1325, 1346 (1970 )); accord Metropolitan Multi-List, 934 F. 2d at Look at more info 1580 (" Market power switches on the variety of brokers who use the service, the overall dollar quantity of yearly listings, and a comparison of the rate of sales utilizing 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 perform the jobs of a realty agent or appraiser in the relevant geographical location without using [the defendant MLS] Thus, it possesses adequate market power to limit competition."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the classifications since specific company models suit more than one classification. 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 refer to all such rebates and temptations normally as "refunds" throughout this Report.
68. See 1% Realty, Purchasing a New House, http://www. onepercentusa.com/buy. htm (last visited Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Agents" Silently Deal Genuine Estate Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret property representative referral service operating https://blogfreely.net/ephardhedm/census-bureau-median-list-prices-of-existing-one-family-houses-by-selected in Maryland, Virginia, and the District of Columbia that offers outside of the settlement and therefore off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Guidelines and Regulations of North Texas Realty Information Systems, 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 Charge MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last checked out April 20, 2007) (2-3 worldmark timeshare percent commission for broker that finds a buyer); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last visited April 20, 2007) (allowing house sellers to provide "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Charge Listing, http://www. texasdiscountrealty.com/flatfee. htm (last visited April 20, 2007) (3 percent commission for a broker that discovers a purchaser). 73. REALTOR.com, http://www. realtor.com (last visited 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 visited April 20, 2007). 76. See Kunz, Tr. at 101 (keeping in mind that numerous types of company designs 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.