Competition in the Real Estate Brokerage Industry

From the press release:

"The U.S. Department of Justice and the Federal Trade Commission (FTC) issued a joint report, "Competition in the Real Estate Brokerage Industry." The purpose of the report is to inform consumers and others involved in the industry about important competition issues involving residential real estate, including the impact of the Internet, the competitive structure of the real estate brokerage industry, and obstacles to a more competitive environment."   [RJ]

"As discussed in the report, the review by the Department and the FTC suggests that, although the real estate industry has undergone a number of substantial changes in recent years — particularly as a result of technological advances such as the Internet — competition in the industry has been hindered as a result of actions taken by some real estate brokers acting through multiple listing services and the National Association of Realtors, state legislatures, and state real estate commissions. In addition, consumers likely would benefit significantly from additional knowledge about the range of options available in brokerage services and fees."