Editor’s note: This is the final installment of a four-part series examining website operators who use brokerage licenses to obtain shared listing feeds from multiple listing services to generate leads for other brokerages. In this article, Inman News reporter Andrea V. Brambila looks at whether widespread adoption of the paper brokerage business model could undermine participation in IDX, and the MLS system itself. See Part 1 for an overview of Inman News’ findings, and Part 2, which looked at how MLSs are struggling to interpret whether their rules allow “paper brokerages” and fears that denying them listings could violate antitrust law. Part 3 examined whether website operators who obtain Internet Data Exchange (IDX) listings are complying with MLS rules governing their display....