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Realcomp update

By MICHAEL H. ERDMAN

Earlier this week Realcomp filed its post-trial brief in the FTC v. Realcomp matter.

You'll recall that this case relates to Realcomp's "Web Site Policy" and its "Search Function Policy". Perhaps sensing a weakness in its case, Realcomp confirmed in its brief that "[i]n April, 2007, Realcomp repealed the Search Function Policy. It also repealed the definitional requirement that ERTS listings be full-service brokerage agreements."

According to the brief, Realcomp's Web Site Policy "provides that Listing information downloaded and/or otherwise displayed pursuant to IDX (Internet Data Exchange) shall be limited to properties listed on an exclusive right to sell basis." In other words, "[t]he Web Site Policy limits the distribution of EA listings to certain Internet cites and the IDX." Realcomp can't just come out and say what this means - no EA listings on Realtor.com, among other popular sites. And how does Realcomp justify its policy? "Brokers Can Easily Obtain Exposure on Realtor.com by Dual-Listing" with another MLS. Furthermore, "Problems That EA Brokers Face in Southeast Michigan Are More Likely a Function of Their Business Model." Allow me to translate - #1, if some of you brokers want to innovate, it's going to cost you (and consumers), and, #2, you innovative brokers wouldn't have so much trouble (see #1) if you'd just knock off all the innovating. Pitiful.

In an Order entered yesterday by the ALJ, closing arguments are scheduled for September 6, 2007.

Full post as published by Real Estate, Real Competition & The Law on August 02, 2007 (boomark / email).