The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell
The Department of Justice’s Antitrust Division has filed a lawsuit against the Multiple Listing Service of Columbia, South Carolina. According to the Feds the rules and regulations of the CMLS has resulted in higher costs to consumers. In the words of Assistant Attorney General Thomas Barnett “Today’s lawsuit seeks to remove unlawful impediments to competition for real estate services in the Columbia area, so that consumers will benefit from the additional options and reduced fees that competition can bring”…wow, pretty heavy words. According to the lawsuit, CMLS do not accept open listings that allow owners to sell their own property without paying a commission. The CMLS also requires that agents provide certain services even when the seller does want or need them…but it seems the Department of Justice’s biggest problem is “that CMLS’s rules give real estate brokers the ability to exclude rivals from outside Columbia who might offer local consumers innovative brokerage options that save them money or provide services that better match their needs”. It is worth noting here that the CMLS operates differently from most other Multiple Listing Services in the country.
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