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 completely developed in his AEI-Brookings Paper, where he describes how the cooperative relationship among brokers in an MLS has the potential to generate uniformity in services provided and brokerage charges charged.
Other analysts have actually revealed similar views (how to take real estate photos). See Lawrence J. White, The Residential Property Brokerage Industry: What Would More Energetic Competition Look Like? 6 (New York City 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 encourage price conformity by, for instance, by requiring 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 one of the most important things to me"). 50. NAR, Public Remark 208, at 5 (remark). Throughout this Report citations to "Public Comments" refer to remarks sent in action to the Agencies' Federal Register Notification inviting comments on the subjects attended to at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The general public remark numbers mentioned in this Report refer to those discovered on the FTC's website. Some parties sent a cover letter with the general public comment. Citations to submissions by these parties consist of a parenthetical referral 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 also Whatley, Tr. at 160- 61 (although the Web offers useful info to buyers and sellers of property, by the time homes are marketed on the Internet, they may be gone already; therefore, the MLS is crucial). 51. John H. Crockett, Competitors and Efficiency in Negotiating: The Case of Residential Real Estate Brokerage, 10 JOURNAL OF THE AMERICAN REALTY 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) https://canvas.instructure.com/eportfolios/122233/arthurpbjx779/How_To_Find_Real_Estate_Deals_Things_To_Know_Before_You_Get_This (subscription in the MLS ends up being necessary to a broker's ability to contend efficiently on equivalent terms); GAO REPORT, supra note 3, at 12.
South Central Wisconsin MLS Corp., 450 F. 3d 312 (7th Cir. 2006); Thompson v (what is a real estate appraiser). 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 especially beneficial to smaller brokers, because it "levels the playing field" on which brokers compete.
through the local or local [MLS]"). See likewise Yun, Tr. at 223-24 (describing how the MLS puts small and big brokers "on equal footing"). 57. See, e. g., William C. Erxleben, In Browse of Rate 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 conversation of the positive network impacts connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A genuine estate multiple listing service might likewise go through 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 homes listed on the system by other members, thus increasing the chances of sale; and (2) existing members are entitled to offer your houses listed by the new broker, hence providing each broker a bigger inventory of homes to show.
As an outcome, the majority of municipalities have a single several listing service, and virtually all real estate brokers other than possibly a few extremely specialized ones are timeshare sales companies 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.
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 mostly have followed this method. 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 various personal litigation including 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, 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 1580 (" Market power switches on the number of brokers who use the service, the total dollar amount of annual listings, and a contrast of the rate of sales using 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 perform the jobs of a property agent or appraiser in the pertinent geographical location without utilizing [the accused MLS] Hence, it possesses sufficient market power to restrain competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the categories because certain business models suit more than one classification. For example, a VOW operator might or might not also be a discount broker. 66. See GAO REPORT, supra note 3, at 19. 67. We refer to all such refunds and inducements normally as "rebates" throughout this Report.
68. See 1% Realty, Buying a New Home, http://www. onepercentusa.com/buy. htm (last visited Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret mac and dennis buy a timeshare Representatives" Silently Deal Realty Rebates, INMAN NEWS, Mar. 7, 2006 (describing secret property agent referral service operating in Maryland, Virginia, and the District of Columbia that provides outside of the settlement and thus off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Guidelines and Regulations of North Texas Property Details Systems, Inc. 5. 01-5. 02 (modified Sept. 21, 2005), offered at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Real Estate Agent Flat Fee MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last visited April 20, 2007) (2-3 percent commission for broker that discovers a purchaser); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last visited April 20, 2007) (allowing home sellers to use "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Fee Listing, http://www. texasdiscountrealty.com/flatfee. htm (last visited April 20, 2007) (3 percent commission for a broker that finds a purchaser). 73. REALTOR.com, http://www. realtor.com (last gone to April 20, 2007) (according to its site, REALTOR.com is the "Official 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 a number of kinds of organization models operate under the Century 21 franchise). 77. See GAO Report, supra note 3, at 19-20. 78. See Testimony Summary of Russell Capper, President and Ceo, eRealty, Inc.