BrokerageIndustry News

FTC orders MLS changes despite appeal

Appeals court to rule on Realcomp's refusal to publish certain listings

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The Federal Trade Commission wants Detroit-area multiple listing service Realcomp II to begin transmitting "exclusive agency" property listings favored by discount brokers to public Web sites right away, rather than waiting for the outcome of Realcomp's legal challenge of an FTC order.With financial backing from the National Association of Realtors, Realcomp has fought a three-year legal battle with the FTC over the MLS's refusal to transmit exclusive agency property listings to public Web sites including Realtor.com and the Realcomp's own public-facing site, MoveInMichigan.com. The case is now before the Sixth Circuit Court of Appeals, after Realcomp challenged an FTC ruling, which found that the policy creates a "significant impediment" to consumers accessing listings represented by limited-service brokers, and helps protect full-service brokers from competition (see story).After appealing the ruling, Realcomp asked the FTC to stay a Nov. 9 order requiring the MLS...