Competition in the Real Estate Brokerage Industry - #19 & Final

Sunday July 1, 2007

Conclusion and Recommendations

The Workshop's conclusions say in part: "Our review suggests that although the real estate industry has undergone a number of substantial changes in recent years – in particular as a result of technological advances such as the Internet – competition in the industry has been hindered as a result of actions taken by some real estate brokers, acting through MLSs and NAR, state legislatures, and real estate commissions. In addition, consumers likely would benefit significantly from additional knowledge about the range of options available in brokerage services and fees."

Here are their recommendations:

The Agencies (DOJ/FTC) should continue to monitor our industry's activities and bring enforcement actions when appropriate.

The Agencies should continue to advise state legislators and industry regulators on anti-competitive consequences of state legislation and regulations that restrict competition and consumer choice.

Continue to push for repeal of existing state laws, rules and regulations that are anti-competitive and limit consumer choice, particularly anti-rebate laws

Promote consumer understanding of marketplace options

More studies and scrutiny of commission structures, especially as they relate to housing prices

Entire series: #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12, #13, #14, #15, #16, #17, #18, #19 & final