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Federal antitrust enforcer nails another MLS

By MICHAEL H. ERDMAN

Perhaps you've already read about it over at the InmanBlog, but if not, I see that the Department of Justice has reached a tentative settlement with the Multiple Listing Service of Hilton Head. The agreement would require the rescission of discriminatory membership rules which burdened non-traditional brokers, minimum service requirements, and the authority of the MLSs' trustees to adopt rules that could directly regulate commissions. Unreal.

While the proposed settlement apparently has not yet been made public, a summary is contained in the DOJ's Competitive Impact Statement (see page 9 thereof), which was filed along with a civil complaint yesterday with the Clerk of the U.S. District Court for the District of South Carolina.

10/18/07 UPDATE: A kind media acquaintance has supplied me with a copy of the proposed final judgment (settlement) in this case. I'm looking forward to reviewing it.

Full post as published by Real Estate, Real Competition & The Law on October 17, 2007 (boomark / email).