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Realcomp II Reduced Competition- Harmed Consumers

disruption-real-estate

… Says an FTC Ruling.

In a 4-0 ruling today, the FTC says Realcomp II acted to restrict consumers access to discounted listings through it’s websites, thus harming competition.

In its opinion announced today, the Commission found that “the practices at issue improperly limit consumers’ access to information about the availability of these lower-priced alternatives,” and . . . concluded “that [Realcomp’s] acts and practices unreasonably restrain trade in violation of Section 1 of the Sherman Act . . . and Section 5.” The Commission’s administrative decision resolves litigation arising from a complaint charging that Realcomp’s policies violate Section 5 of the Federal Trade Commission Act.

The release from the FTC is rich with disruptive language- red meat for hungry progressives.

the Commission wrote, “illustrate how technological dynamism and organizational innovation can place enormous pressure on traditional business models and create possibilities for ‘the new commodity, the new technology, the new source of supply, the new type of organization’ [Joseph A. Schumpeter, Capitalism, Socialism, and Democracy 84 (1942)] that can transform markets. Because [these] are powerful stimulants for economic progress, an especially important application of antitrust law is to see that incumbent service providers do not use improper means to suppress innovation-driven competition that benefits consumers.”

Source Matthew Hardy– submit breaking real estate news

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Benn Rosales is the Founder and CEO of The American Genius (AG), national news network. Before AG, he founded one of the first digital media strategy firms in the nation has received the Statesman Texas Social Media Award and is an Inman Innovator Award winner. He has consulted for numerous startups (both early- and late-stage), and is well known for organizing the digital community through popular offline events. He does not venture into the spotlight often, rather he believes his biggest accomplishments are the talent he recruits and develops, so he gives all credit to those he's empowered.

10 Comments

10 Comments

  1. Ken Brand

    November 2, 2009 at 9:22 pm

    Every aspect of our business is roiling with change. It’s an interesting time, but then, people have been saying that for 100 years.

    Cheers

  2. MIssy Caulk

    November 2, 2009 at 11:09 pm

    Wow, hadn’t heard there was a reversal of that decision today. I know many of the Directors on that board as they are right next to us on boundary lines.
    Yes there MLS is very proprietary. They are finally getting REITS complaint.
    Ugh scary statement you pulled out. Shocked they quoted that. Actually the last I heard they were allowing Discount Brokers to post their listings.

  3. Real Estate Feeds

    November 3, 2009 at 12:52 am

    Realcomp II Reduced Competition- Harmed Consumers: … Says an FTC Ruling.
    In a 4-0 ruling today, the FTC s.. https://bit.ly/3qp0Q6

  4. RealEstate Babble

    November 3, 2009 at 1:11 am

    AgentGenius: Realcomp II Reduced Competition- Harmed Consumers https://bit.ly/1YMIup Full https://bit.ly/87riv

  5. Ken Brand

    November 3, 2009 at 2:19 am

    RT @agentgenius Realcomp II Reduced Competition- Harmed Consumers https://bit.ly/3qMGuS

  6. marsha stanton

    November 3, 2009 at 3:09 am

    RT @agentgenius Realcomp II Reduced Competition- Harmed Consumers https://bit.ly/3qMGuS

  7. realdiggity

    November 3, 2009 at 6:05 am

    Realcomp II Reduced Competition- Harmed Consumers: comments https://bit.ly/4yrPvl

  8. Andrew Parsons

    November 3, 2009 at 4:14 pm

    Realcomp II Reduced Competition- Harmed Consumers: In a 4-0 ruling today, the FTC says Realcomp II acted to res.. https://bit.ly/3VImUD

  9. PC & MAC Solutions

    November 6, 2009 at 6:00 pm

    Realcomp II reduced competition says FTC ruling https://bit.ly/3VIeYx

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