Using Technology to Make Real Estate More Competitive

Thursday, April 5, 2018 - 1:00 PM to 2:30 PM
Information Technology and Innovation Foundation
1101 K Street NW Suite 610A
Washington, DC 20005
04/05/2018 13:0004/05/2018 14:30America/New_YorkUsing Technology to Make Real Estate More CompetitiveMM/DD/YYYY

Technological innovation has made it cheaper, easier, and faster to buy and sell most products. However, the real estate industry has firmly resisted disruption, successfully lobbying for state laws banning commission rebates, preventing the public disclosure of residential sales prices, and requiring consumers to purchase real estate services that they may not want, as well as blocking third parties from accessing listing data. These practices have allowed the industry to preserve the long-standing fixed commissions for brokers even as home prices have climbed much faster than inflation.

In 2005, the U.S. Department of Justice brought an antitrust lawsuit against the National Association of Realtors for its anti-competitive policies that were designed to exclude lower-cost online real estate startups from competing with traditional brokers. This lawsuit resulted in a 10-year settlement that prohibited local MLSs from enacting rules that limit competition; however, this agreement expires this year.

Join ITIF for a panel discussion about the challenges and opportunities to increase competition in the real estate industry through technological innovation, and the role that policymakers can play in using technology to make home ownership more affordable. 

Daniel Castro
Vice President
Information Technology and Innovation Foundation
Ben Clark
Real Estate Broker
Jessica Drake
Federal Trade Commission
Ralph Holmen
Associate General Counsel
National Association of Realtors
David Kully
Holland & Knight
Brian Larson
Senior Business Consultant
Larson Skinner PLLC