Quote:
Originally Posted by BrianL99
I think you're confused about the FTC's role and powers
|
I am not confused. The FTC has played a significant role in the broader context of NAR's class action lawsuit and related antitrust issues. Historically, the FTC, along with the DOJ (Dept of Justice), has been involved in scrutinizing and challenging the practices of NAR, particularly concerning real estate commissions and the operation of MLS (Multiple Listing Service). This scrutiny dates back to at least the 1940s, as the FTC has been concerned with the interdependence of brokers facilitated by the MLS, which is seen as a mechanism that maintains this interdependence.
In recent years, the FTC's involvement has continued as part of a broader governmental effort to address antitrust concerns in the real estate industry. The FTC, alongside the DOJ, has been involved in legal actions and investigations aimed at challenging the practices that allegedly inflate buyer-broker commissions and, consequently, the total commissions paid by home sellers.
These actions are part of an ongoing effort to promote competition and protect consumers in the real estate market--
which is what I said.