BrokerageIndustry News

MLS scraps real estate rule after FTC investigation

New England regional MLS announces agreement

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A U.S. Federal Trade Commission investigation has prompted a regional multiple listing service in New England to toss out a policy that blocked some property listings from reaching some public property-search sites, including The Northern New England Real Estate Network announced today that it has reached an agreement with the FTC that resolves the investigation. The FTC last month announced a settlement with the Austin Board of Realtors in Texas relating to a similar board policy that was also rescinded (see Inman News report). The U.S. Department of Justice and Federal Trade Commission have engaged in several other actions over the past couple of year against real estate laws, regulations and rules, charging that the measures are anti-competitive, and the leading lawyer for the National Association of Realtors in May announced a total of 14 separate government investigations that were studying whether MLSs prevent a type of property listings from reaching some public W...