Industry News

DOJ, FTC reps address MLS execs

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

Representatives for the U.S. Justice Department and Federal Trade Commission, during a meeting of multiple listing service industry professionals this month, discussed the agencies' role in enforcing antitrust law for the real estate industry and outlined actions the agencies are taking to protect consumers and industry participants from anticompetitive behavior. The representatives were invited by organizers to an annual meeting for the Council of Multiple Listing Service, a group of MLS industry officials that includes MLS executives, staff, vendors and technologists. Federal antitrust actions are fresh on the minds of many MLS officials -- FTC officials announced a series of actions last year targeting MLSs for passing rules that the agency found were in violation of federal antitrust law, and that complaint led to two lawsuits against MLSs -- one of those cases has settled, and the other is pending a final decision by an administrative law judge. Also, the Justice Departm...