BrokerageIndustry News

MLS, FTC working out issues in antitrust lawsuit

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A Michigan multiple listing service and the U.S. Federal Trade Commission are making progress in resolving some issues in an antitrust lawsuit filed in October, though there is still disagreement over restrictions on the distribution of property information to some public Web sites. The FTC seeks in legal filings to block a Michigan multiple listing service from enforcing measures that prevent its members from entering into lawful types of listing agreements with consumers, while the MLS seeks to dismiss the complaint and argues that its policies "promote the cooperative objective of the MLS." MLS officials, though, have changed minimum-service requirements for a category of property listings and also changed an internal property-search default rule that also drew opposition from the federal antitrust agency, and are working toward an agreement with FTC officials on these policies, court documents state. In October 2006, the FTC charged that Realcomp II Ltd., a Detroit-area...