In this issue:
Antitrust Policy and Real Estate Markets
Let me start this short paper on the antitrust law governing multiple listings in the real estate brokerage industry with a conventional account. Thereafter I shall try to explain why this account, while not wholly wrong, is in at least one important respect incomplete.
The question is not “will” but “when” will antitrust enforcers challenge any new real estate broker association rules prescribing how the brokers compete.
The U.S. Federal Trade Commission and the U.S. Department of Justice have pushed an antitrust enforcement agenda designed to reform the industry. In 2005, the DOJ’s Antitrust Division sued the National Association of Realtors. The FTC followed suit in 2006 by issuing a series of complaints against a number of real estate groups. Although they challenged slightly different policies, both agencies claimed that they were suing to protect new types of competition that had been stoked by the distribution of real estate listings over the Internet.
U.S. and EC Competition Policies and Innovative Markets
Innovation and c...