FTC Continues Crackdown On Broker Groups

Law360, New York (October 11, 2006, 12:00 AM EDT) -- The Federal Trade Commission stepped up its probe into the real estate industry on Thursday, charging two real estate groups in the Detroit area with illegally restraining competition and signing consent orders with five other groups around the country.

According to the FTC, Realcomp II Ltd. and MIRealSource Inc., which provide services to a combined 3,000 real estate brokerage offices in southeastern Michigan, blocked non-traditional, low-cost listings from being transmitted by their multiple listing services.

This limited the choices consumers had regarding potential brokers, the Commission...
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