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 totally developed in his AEI-Brookings Paper, where he describes how the cooperative relationship amongst brokers in an MLS has the potential to trigger uniformity in services supplied and brokerage charges charged.
Other analysts have revealed comparable views (how long does it take to get your real estate license). See Lawrence J. White, The Residential Real Estate Brokerage Industry: What Would More Energetic Competitors Appear 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 encourage cost conformity by, for example, by requiring that each listing state the cost split that the cooperating broker will get.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is tactically one of the most important things to me"). 50. NAR, Public Remark 208, at 5 (comment). Throughout this Report citations to "Public Remarks" describe comments sent in reaction to the Agencies' Federal Register Notification inviting Go to the website remarks on the topics attended to at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public remark numbers mentioned in this Report describe those discovered on the FTC's website. Some celebrations submitted a cover letter with the public comment. Citations to submissions by these celebrations consist of a parenthetical recommendation 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 Internet supplies useful details to purchasers and sellers of genuine estate, by the time properties are advertised on the Web, they may be gone already; thus, the MLS is crucial). 51. John H. Crockett, Competitors and Effectiveness in Transacting: The Case of Residential Realty 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 how much is a timeshare Multi-List, 629 F. 2d 1351, 1370 (5th Cir. 1980) (membership in the MLS ends up being essential to a broker's capability 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 are cc&rs in real estate). 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 beneficial to smaller sized brokers, due to the fact that it "levels the playing field" on which brokers complete.
through the regional or regional [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, In Browse of Cost and Service Competitors in Residential Real Estate 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 connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A real estate numerous 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, thus increasing the chances of sale; and (2) existing members are entitled to offer your houses noted by the new broker, therefore offering each broker a bigger stock of houses to show.
As an outcome, many towns have a single numerous listing service, and essentially all property brokers other than 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; 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 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 litigation involving 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 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 turns on the number of brokers who use the service, the overall dollar amount of annual listings, and a contrast of the rate of sales utilizing the multilisting service to the marketplace as a whole."); see likewise, 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 carry out the tasks of a real estate representative or appraiser in the pertinent geographic location without utilizing [the defendant MLS] Therefore, it has sufficient market power to limit competition."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the classifications because specific organization designs fit into more than one classification. For example, 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 inducements normally 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 Representatives" Silently Offer Realty Rebates, INMAN NEWS, Mar. 7, 2006 (explaining secret real estate agent referral 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. https://postheaven.net/mualleit2m/census-bureau-mean-list-prices-of-existing-one-family-houses-by-selected-city See, e. g., Rules and Laws of North Texas Property 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 Realtor Flat Charge 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 buyer); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last checked out April 20, 2007) (allowing house sellers to provide "a 3% commission or more" to buyers' brokers); TexasDiscountRealty. com, Flat Charge Listing, http://www. texasdiscountrealty.com/flatfee. htm (last gone to April 20, 2007) (3 percent commission for a broker that finds a buyer). 73. REALTOR.com, http://www. realtor.com (last checked out April 20, 2007) (according to its site, REALTOR.com is the "Official Site 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 gone to April 20, 2007). 76. See Kunz, Tr. at 101 (keeping in mind that several kinds of organization designs 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 Chief Executive Officer, eRealty, Inc.