BrokerageIndustry News

Michigan MLSs face new antitrust lawsuit

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A federal antitrust lawsuit, brought by a company that formerly offered low-cost real estate brokerage services, targets two Michigan multiple listing services that last year were hit with separate and unrelated antitrust complaints filed by the U.S. Federal Trade Commission. Home Quarters Real Estate Group LLC charges in its complaint, filed in U.S. District Court for the Eastern District of Michigan, that MiRealSource and Realcomp II MLSs sought to block the company's access to MLS data "as part of their efforts to destroy (its) innovative business model and to thwart competition," and that the MLSs' actions ultimately drove the company out of business. Home Quarters is seeking damages in excess of $10 million. Home Quarters provided a service that allowed consumers to sign up online as clients to access the company's private, password-protected Web site to search a range of MLS-supplied information on for-sale homes, according to the lawsuit. The company offered a cash rebate of up ...