Public Workshop - Competition Policy And The Real Estate Industry

Competition Policy and the Real Estate Industry

Report

Competition in the Real Estate Brokerage Industry – A Report by the Federal Trade Commission and the U.S. Department of Justice (April 2007)

Workshop Information

The Antitrust Division and the Federal Trade Commission cohosted a one-day workshop on competition policy and the real estate industry on Tuesday, October 25, 2005. The workshop was held at the FTC’s Satellite Building Conference Center located at 601 New Jersey Avenue NW, Washington, D.C.

This page provides information on:

• Overview of the Workshop
• Press Releases
• Preregistration
• Call for Panelists
• Submitting Comments

This page provides information on:

• Agenda and Transcript
• Panelist Submissions
• Antitrust Division Comments
• Public Comments
  • Selected Comments
  • All Comments
• U.S. v. National Association of Realtors
• U.S. v. Kentucky Real Estate Commission

Dates to remember:

• September 25, 2005: Prospective panelist submissions due
• October 11, 2005: Selected panelists notified
• October 25, 2005: Workshop
• November 28, 2005: Comments due

For more information, contact the Litigation III Section by e-mail (RealEstateWorkshop@usdoj.gov).

Overview

In light of the substantial changes in the real estate brokerage marketplace and consumers’ interest in a competitive real estate brokerage industry, the Antitrust Division and the Federal Trade Commission will hold a workshop to provide a forum on the competitiveness of the residential real estate industry.

The workshop will cover topics such as buyers' rebates, discount brokers and limited-service brokers, and minimum service requirements.

In particular, discussion will center around the following topics:

• The real estate transaction
• Empirical evidence regarding competition in the industry
• Private and state actions that affect competition among seller's brokers
• Private and state actions that affect competition among buyers' brokers.

For more information on these topics and the scope of this workshop, read the Federal Register Notice.

Press Releases

September 13, 2005

Justice Department/Federal Trade Commission to Host Joint Workshop on Competition Policy and The Real Estate Industry – One-day Public Event Scheduled for October 25, 2005 in Washington, D.C.

Related Press Releases

November 02, 2005

Justice Department Encourages the New Mexico Real Estate Commission to Maintain Consumer Choice in Real Estate Brokerage Services – Proposed Rule Amendments Would Restrict Consumer Choice and Cause New Mexicans to Pay More for Real Estate Services

October 20, 2005

The Justice Department and The Federal Trade Commission Encourage Michigan Senate Committee to Continue to Allow Consumer Choice in Real Estate Brokerage Services – Proposed Legislation Would Restrict Consumer Choice and Cause Michigan Consumers to Pay More for Real Estate Services

October 4, 2005

Department of Justice Amends Antitrust Lawsuit Against National Association of Realtors – NAR's Modified Policy Continues to Obstruct Internet-Based Competition

September 8, 2005

Justice Department Sues National Association of Realtors for Limiting Competition Among Real Estate Brokers – NAR Policy Obstructs Internet-based Real Estate Brokers from Offering Better Services and Lower Costs to Consumers

August 17, 2005

South Dakota Real Estate Commission Permits Real Estate Brokers to Offer Rebates and Inducements – Rescission of Rulings Will Benefit Consumers of Real Estate Services

July 13, 2005

Justice Department Reaches Settlement with Kentucky Real Estate Commission – Settlement Allowing Real Estate Brokers to Offer Rebates and Inducements Will Benefit Consumers

Corrected Version June 29, 2005

Justice Department Moves to Modify Real Estate Consent Decree – Action Allows Consumers to Get More Information on Discounted Real Estate Fees

May 25, 2005

Justice Department Statement on Oklahoma Legislature's Proposed Real Estate Legislation

May 24, 2005

The Justice Department and The Federal Trade Commission Urge the Governor of Missouri to Continue to Allow Consumer Choice in Real Estate Brokerage Services – Proposed Legislation Would Reduce Choice and Cause Missouri Consumers to Pay More for Real Estate Services

May 12, 2005

The Justice Department and the Federal Trade Commission Urge the Alabama State Senate to Continue to Allow Consumer Choice in Real Estate Brokerage Services – Proposed Legislation Would Reduce Choice and Likely Cause Alabama Consumers to Pay More for Real Estate Services

April 21, 2005

Department of Justice and Federal Trade Commission Urge Texas Real Estate Commission to Continue to Allow Flexibility in Brokerage Services – Regulation Would Cause Consumers to Pay More for Real Estate Services and Reduces Consumer Choice

April 8, 2005

Justice Department Urges Oklahoma State Legislature to Continue to Allow Choice in Real Estate Services

March 31, 2005

Justice Department Sues Kentucky Real Estate Commission for Limiting Competition Among Real Estate Brokers – Regulations Restrict Competition and Cause Consumers to Pay Higher Prices for Real Estate Services

Preregistration

The FTC will accept preregistration for this workshop. Preregistration is not necessary to attend but is encouraged to facilitate event planning. To preregister, e-mail your name and affiliation to CompetitionandRealEstate@ftc.gov.

The workshop is open to the public and there is no fee for attendance. For admittance to the conference center, all attendees will be required to show a valid form of photo identification, such as a driver’s license.

For lodging considerations, see Local Hotels.

Call for Panelists

Parties seeking to participate as panelists in the workshop must notify both the Antitrust Division and the FTC in writing on or before September 25, 2005. Persons submitting a request to participate as a panelist will be notified on or before October 11, 2005, if they have been selected.

Antitrust Division and FTC staff will select panelists to participate in the workshop using the following criteria:

• The party has expertise in or knowledge of the issues that are the focus of the workshop.
• The party’s participation would promote a balance of interests being represented at the workshop.
• The party has been designated by one or more interested parties (who submit requests to participate by September 25) as a party who shares group interests with the designators.

For further instructions, see the Federal Register Notice.

Submitting Comments

Comments may be submitted either before or after the workshop, but must be received on or before November 28, 2005. Use the following caption on each submission: Competition and Real Estate Workshop – Comment, Project No. V050015. Comments may be submitted in either hardcopy or electronic format.

Hardcopy: Mail or deliver an original and two complete copies to both the Antitrust Division and the FTC:

Electronic: Comments that do not contain confidential material may be filed electronically. Comments filed electronically must be submitted to both the Antitrust Division and the FTC.

• To submit comments to the FTC, follow the instructions on the form.
• To submit comments to the Antitrust Division, send e-mail to RealEstateWorkshop@usdoj.gov.

If you submit comments in PDF format, please include a comparable text version in a separate file (Word, WordPerfect, or RTF format).

For more information, contact the agencies by e-mail:

• Antitrust Division: RealEstateWorkshop@usdoj.gov
• FTC: CompetitionandRealEstate@ftc.gov

Related Internet Site

FTC Web site: DOJ/FTC Joint Workshop on Competition Policy and the Real Estate Industry