1, 2006), available at http://www. realtor.org/mempolweb. nsf/pages/code. 46. Whatley, Tr. at 30. 47. Hahn, Tr. at 32. Hahn's concerns are more completely established in his AEI-Brookings Paper, where he describes how the cooperative relationship among brokers in an MLS has the prospective to generate uniformity in services supplied and brokerage charges charged.
Other experts have actually revealed comparable views (how to become a real estate broker in california). See Lawrence J. White, The Residential Realty Brokerage Market: What Would More Energetic Competitors Look Like? 6 (New York City University School of Law, New York City University Law and Economics Working Documents 51, 2006); GAO REPORT, supra note 3, at 3, 12-13 (MLS may motivate rate conformity by, for instance, by requiring that each listing state the cost split that the complying broker will receive.
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 Comments" describe remarks sent in action to the Agencies' Federal Register Notice inviting discuss the topics dealt with at the Workshop.
Reg. 53,362 (Sept. 8, 2005). The public remark numbers cited in this Report describe those discovered on the FTC's site. Some parties sent a cover letter with the 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 Internet provides beneficial details to purchasers and sellers of realty, by the time residential or commercial properties are advertised on the Web, they may be gone currently; therefore, the MLS is important). 51. John H. Crockett, Competition and Performance in Transacting: The Case of Residential Real Estate 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 PERSONNEL REPORT, supra note 9, at 31. 54. See United States v. Real Estate Multi-List, rent timeshare 629 F. 2d 1351, 1370 (5th Cir. 1980) (membership in the MLS ends up being necessary 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 (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 specifically beneficial to smaller brokers, because it "levels the playing field" on which brokers contend.
through the regional 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, Looking For 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 discussion of the favorable network results connected with MLSs, see 13 HERBERT HOVENKAMP, ANTITRUST LAW 2220b4, 2223b3 (2d ed. 2005): A property several listing service may also go through network externalities. As each property broker is added to the system the consequences are (1) that the new broker is entitled to offer your homes noted on the system by other members, thus increasing the possibilities of sale; and (2) existing members http://remingtoniyev519.bearsfanteamshop.com/rumored-buzz-on-how-to-get-real-estate-license-in-ga are entitled to offer your homes listed by the brand-new broker, thus offering each broker a larger stock of homes to reveal.
As an outcome, a lot of municipalities have a single numerous listing service, and virtually all property brokers except perhaps 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.
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., 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 different private lawsuits including declared MLS-related restraints is beyond the scope of this Report. 64. Realty Multi-List, 629 F. 2d at 1373-74 (citing 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 number of brokers who use the service, the total dollar quantity of yearly listings, and a contrast of the rate of sales utilizing 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 carry out the tasks of a real estate representative or appraiser in the appropriate geographic area without using [the offender MLS] Thus, it possesses sufficient market power to limit competitors."); Austin Bd. of Realtors, 2000 WL 34239114, at * 4 n.
65. There is some overlap in between the classifications because certain organization models fit into more than one classification. For instance, a VOW operator may or might not likewise be a discount broker. 66. See GAO REPORT, supra note 3, at 19. how to get rid of timeshare legally 67. We refer to all such refunds and temptations generally as "refunds" throughout this Report.
68. See 1% Real Estate, Purchasing a New Home, http://www. onepercentusa.com/buy. htm (last went to Mar. 27, 2007). 69. See, e. g., Glenn Roberts, Jr., "Secret Representatives" Quietly Offer Realty Rebates, INMAN NEWS, Mar. 7, 2006 (explaining secret realty representative referral service operating in Maryland, Virginia, and the District of Columbia that offers outside of the settlement and hence off the books sellers a 1.
5%). 70. Henderson, Tr. at 155. 71. See, e. g., Rules and Regulations of North Texas Property Information Systems, Inc. 5. 01-5. 02 (modified Sept. 21, 2005), readily available at http://www. ntreis.net/documents/Documents_262006124924. 72. See, e. g., FSBOAdvertisingService. com, Houston Texas Realtor Flat Fee MLS, http://www. fsboadvertisingservice.com/flat-fee-mls-MLSTX3. asp (last checked out April 20, 2007) (2-3 percent commission for broker that discovers a purchaser); ifoundahome.
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ifoundahome.net/Listingwork/SBasicListing. htm (last gone to April 20, 2007) (permitting house sellers to provide "a 3% commission or more" to purchasers' brokers); TexasDiscountRealty. com, Flat Fee Listing, http://www. texasdiscountrealty.com/flatfee. htm (last gone to April 20, 2007) (3 percent commission for a broker that discovers a purchaser). 73. REALTOR.com, http://www. realtor.com (last checked out 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 several kinds of business 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 Chief Executive Officer, eRealty, Inc.