1, 2006), offered at http://www. realtor.org/mempolweb. nsf/pages/code. 46. Whatley, Tr. at 30. 47. Hahn, Tr. at 32. Hahn's issues are more totally established in his AEI-Brookings Paper, where he explains how the cooperative relationship among brokers in an MLS has the possible to trigger uniformity in services offered and brokerage charges charged.
Other analysts have actually revealed similar views (how much do real estate agents make a year). See Lawrence J. White, The Residential Realty Brokerage Market: What Would More Vigorous Competitors Look Like? 6 (New York City University School of Law, New York University Law and Economics Working Papers 51, 2006); GAO REPORT, supra note 3, at 3, 12-13 (MLS might encourage price conformity by, for example, by requiring that each listing state the cost split that the cooperating broker will receive.
48. Hahn, Tr. at 32-36. 49. See Whatley, Tr. at 31 (" The MLS is tactically among the most valuable things to me"). 50. NAR, Public Remark 208, at 5 (comment). Throughout this Report citations to "Public Remarks" describe comments submitted in action to the Agencies' Federal Register Notice welcoming discuss the subjects addressed 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 site. Some parties submitted a cover letter with the general public remark. Citations to submissions by these parties consist of a parenthetical reference either to the "comment" or the "cover letter." The 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 provides useful info to purchasers and sellers of genuine estate, by the time residential or commercial properties are marketed on the Web, they might be gone already; thus, the MLS is vital). 51. John H. Crockett, Competitors and Efficiency in Transacting: The Case of Residential Realty Brokerage, 10 JOURNAL OF THE AMERICAN PROPERTY AND URBAN https://jeffreyfqhd604.sitey.me/blog/post/490469/indicators-on-what-is-redlining-in-real-estate-you-need-to-know 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 Multi-List, 629 F. 2d 1351, 1370 (5th Cir. 1980) (membership in the MLS becomes necessary to a broker's capability to contend efficiently 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 does a real estate agent do). 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 actually been specifically useful to smaller sized brokers, due to the fact that it "levels the playing field" on which brokers compete.
through the regional or regional [MLS]"). See also Yun, Tr. at 223-24 (describing how the MLS puts small and big brokers "on equivalent footing"). 57. See, e. g., William C. Erxleben, In Search 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 conversation of the favorable network impacts connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A property numerous listing service may likewise be subject to network externalities. As each genuine estate broker is contributed to the system the effects 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 homes noted by the brand-new broker, therefore offering each broker a larger inventory of houses to show.
As an outcome, many municipalities have a single several listing service, and practically all realty brokers other than perhaps 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; 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 choices mostly have actually followed this method. See, e. g., timeshare resorts 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 numerous private lawsuits involving declared MLS-related restraints is beyond the scope of this Report. 64. Realty Multi-List, 629 F. 2d at 1373-74 (pointing out 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 quantity of yearly listings, and a contrast of the rate of sales using 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 tasks of a genuine estate representative or appraiser in the relevant geographic area without using [the defendant MLS] Thus, it has 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 due to the fact that particular service designs fit into 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 refunds and inducements usually as "rebates" throughout this Report.
68. See 1% Realty, Buying a New Home, http://www. onepercentusa.com/buy. htm (last went to Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Agents" Quietly Offer Property Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret property timeshare cancun cancellation representative 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. See, e. g., Rules and Laws of North Texas Realty Info Systems, Inc. 5. 01-5. 02 (changed 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 Cost 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 purchaser); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last checked out April 20, 2007) (allowing home sellers to provide "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Fee Listing, http://www. texasdiscountrealty.com/flatfee. htm (last checked out April 20, 2007) (3 percent commission for a broker that finds a buyer). 73. REALTOR.com, http://www. realtor.com (last gone to 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 (noting that a number of kinds of company designs run under the Century 21 franchise). 77. See GAO Report, supra note 3, at 19-20. 78. See Testament Summary of Russell Capper, President and President, eRealty, Inc.