Markets Wired

The Federal Trade Commission and Department of Justice announced today that they will hold a joint public workshop in Washington, DC on June 5, 2018, to explore competition issues in the residential real estate brokerage industry.

Buying or selling a home is one of the biggest financial transactions most consumers make in their lives, and the residential real estate brokerage industry has seen significant change in recent years, including the emergence of new business models. The workshop will focus on developments since the publication of the FTC and DOJ’s Report on Competition in the Real Estate Brokerage Industry in 2007. Topics to be discussed include:

• existing and emerging consumer-facing platforms for accessing listings information
• availability of listings information to consumers
• regulatory and competitive hurdles facing listings platforms
• effect of listings platforms on consumers’ use of real estate services
• changes in traditional real estate broker, brokerage, and Multiple Listing Service practices
• emergence and growth of nontraditional fee and service models
• obstacles and catalysts to innovation in real estate fee structures and service models
• competitive impact of nontraditional real estate fee and service models
• effect of antitrust enforcement actions and consent decrees on competition in the residential real estate industry, and
• state licensing regimes relating to residential real estate transactions.

The FTC and DOJ invite comments from the public on competition in the residential real estate brokerage industry and the topics covered by this workshop. For further information on the workshop and the public comment process, including a list of suggested questions open for comment, please visit the workshop event page. Interested parties may submit public comments online now through July 31, 2018. Submitted comments will be posted on the FTC website.

The joint workshop is free and open to the public. It starts at 9:00 a.m. at the FTC’s Constitution Center Auditorium, 400 7th St., SW, Washington, DC, and will be webcast live on the FTC’s website. Registration information, an agenda, directions to the FTC Conference Center, and a list of speakers will be available in the near future on the event web page. Attendees are encouraged, but not required, to register in advance for the workshop by sending an email to RealEstateworkshop@ftc.gov. Please include “RSVP” in the subject line. Seating will be on a first-come, first-served basis.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint. Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.