MiRealSource, a broker-owned multiple listing service in Michigan, has agreed to settle a Federal Trade Commission complaint that challenged MLS rules the agency claimed violate antitrust laws. The FTC last month announced settlement agreements with five MLSs and complaints against two other MLSs related to MLS policies that blocked some property listings from reaching some public property-search Web sites, such as Realtor.com and MLS-operated sites. On Monday the FTC posted a notice stating that the complaint against MiRealSource was withdrawn to allow the commission to consider a proposed settlement agreement with that MLS. Members of the FTC will consider whether to approve the proposed agreement. Virginia Blatt, CEO for MiRealSource, which formed in 1966 and has about 7,000 members, said Wednesday that the MLS board voted to approve the consent agreement and MLS managers will "make some modification to our rules as a result of it. We think it will work out in a positive." The MLS...
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