MLS Operators Settle With FTC

Five real estate groups have entered into consent agreements with the Federal Trade Commission to stop certain anti-competitive practices that prevent homesellers from getting their properties listed on important public websites if they use discount brokers.The FTC alleged that real estate groups use multiple-listing services to discriminate against low-cost brokers and prevent competition. "Buying and selling a home is one of the biggest financial transactions most consumers ever make," FTC Director Jeffrey Schmidt said. "That makes it all the more important that consumers have a full range of options to pick the level of real estate services that meet their needs." MLS operators in Colorado, New Hampshire, New Jersey, Virginia, and Wisconsin entered into the consent agreements. The FTC also filed administrative complaints against two real estate groups in Michigan that refused to change their MLS rules.