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 fully established in his AEI-Brookings Paper, where he describes how the cooperative relationship amongst brokers in an MLS has the possible to offer increase to uniformity in services supplied and brokerage costs charged.
Other experts have actually expressed similar views (what is reo in real estate). See Lawrence J. White, The Residential Realty Brokerage Market: What Would More Energetic Competitors Look Like? 6 (New York University School of Law, New York City University Law and Economics Working Papers 51, 2006); GAO REPORT, supra note 3, at 3, 12-13 (MLS might motivate rate conformity by, for instance, by needing that each listing state the cost split that the working together 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"). Additional hints 50. NAR, Public Remark 208, at 5 (remark). Throughout this Report citations to "Public Comments" refer to comments submitted in response to the Agencies' Federal Register Notification welcoming remarks on the subjects attended to at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public comment numbers mentioned in this Report describe those discovered on the FTC's website. Some parties submitted a cover letter with the general public comment. Citations to submissions by these celebrations consist of a parenthetical referral either to the "remark" 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 also Whatley, Tr. at 160- 61 (although the Web provides beneficial info to purchasers and sellers of click here realty, by the time residential or commercial properties are promoted on the Web, they might be gone already; hence, the MLS is crucial). 51. John H. Crockett, Competition and Performance in Negotiating: The Case of Residential Real Estate 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 STAFF 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 becomes important to a broker's ability to compete 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 long does it take to get real estate license). 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 advantageous to smaller sized brokers, because it "levels the playing field" on which brokers compete.
through the regional or regional [MLS]"). See likewise Yun, Tr. at 223-24 (describing how the MLS puts small and large brokers "on equivalent footing"). 57. See, e. g., William C. Erxleben, Searching For Price and Service Competitors 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 positive network impacts associated with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A genuine estate several listing service may also undergo network externalities. As each genuine estate broker is included to the system the effects are (1) that the brand-new broker is entitled to sell the houses listed on the system by other members, hence increasing the possibilities of sale; and (2) existing members are entitled to offer the homes noted by the new broker, hence giving each broker a bigger stock of houses to show.
As an outcome, many municipalities have a single multiple listing service, and practically all genuine estate brokers except maybe a few 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.
Real estate Multi-List, 629 F. 2d 1351 (5th Cir. 1980). 60. Id. at 1356. 61. Id. 62. Id. 63. Id. at 1369. Subsequent decisions mainly have 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 conversation of the different personal litigation involving alleged MLS-related restraints is beyond the scope of this Report. 64. Realty Multi-List, 629 F. 2d at 1373-74 (pointing out A. Austin, Real Estate 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 quantity of annual listings, and a contrast 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 difficult to perform the jobs of a genuine estate agent or appraiser in the relevant geographic location without utilizing [the offender MLS] Hence, it has sufficient market power to restrain competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There https://stephenxqwa.bloggersdelight.dk/2021/04/06/what-does-a-real-estate-broker-do-the-facts/ is some overlap between the classifications since certain organization models suit more than one classification. For instance, a VOW operator might or might not likewise be a discount rate broker. 66. See GAO REPORT, supra note 3, at 19. 67. We describe all such refunds and inducements generally as "refunds" throughout this Report.
68. See 1% Real Estate, Purchasing a New Home, 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 realty agent referral service operating in Maryland, Virginia, and the District of Columbia that uses beyond the settlement and hence off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Rules and Laws of North Texas Property Details Systems, Inc. 5. 01-5. 02 (amended Sept. 21, 2005), readily available at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Real Estate Agent 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 finds a buyer); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last checked out April 20, 2007) (permitting home sellers to provide "a 3% commission or more" to buyers' brokers); TexasDiscountRealty. com, Flat Charge Listing, http://www. texasdiscountrealty.com/flatfee. htm (last checked out April 20, 2007) (3 percent commission for a broker that discovers a buyer). 73. REALTOR.com, http://www. realtor.com (last gone to 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, 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 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 President, eRealty, Inc.