buyer broker

Realtor group calls MLS a solid system

Realtors have long relied on multiple listing services to list and locate homes for clients.

Their associations, which operate the regional databases, say the system enables efficient one-stop real estate shopping, while ensuring privacy, security and accuracy.

Still, some are critical of MLS's.

Last year, the U.S. Government Accountability Office and Department of Justice charged, respectively, that the system artificially props up Realtor commission rates and undercuts competition from Internet and discount brokers.

More recently and locally, antitrust attorney David Barry filed a ballot initiative with the California attorney general calling for a statewide MLS that would be open to the public. Barry, whose interview with the Times ran Wednesday, cites complaints similar to those of the federal agencies.

Realtor associations, however, vigorously defend the MLS, insisting that the real estate industry is highly competitive and that commission rates already fluctuate widely from deal to deal.

June ...