BrokerageIndustry News

MLSI settlement with FTC final, despite NAR objections

Group had sought to hold off until related case is resolved

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The U.S. Federal Trade Commission has finalized the settlement of an antitrust complaint against Multiple Listing Service Inc., a Realtor-operated multiple listing service based in Wauwatosa, Wis., despite objections by the National Association of Realtors trade group. FTC officials in December announced an agreement to settle its concerns with the MLS over policies that placed restrictions on some property listings based on the type of listing contract that home sellers entered into with MLS members. That settlement agreement was finalized on March 13, though the National Association of Realtors had sought to at least delay the settlement based on an administrative law judge's decision in a separate but related FTC dispute with Realcomp II, a Michigan MLS. If the judge's decision holds in favor of Realcomp, argued NAR General Counsel Laurie Janik in a Jan. 9 public comment to the FTC, the consent agreement with Multiple Listing Service Inc. "should be rescinded,"...