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  "documentTitle": "Zillow Group, Inc. (Z)",
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      "kind": "callout",
      "text": "The federal government has injected itself in the issue on several occasions. Antitrust watchdogs at the Dept. of Justice (“DOJ”) have been conducting their own years-long investigation into the practice of agent cooperative compensation.",
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      "text": "We believe if federal regulators get involved, they would most likely push for a prohibition on compensation cooperation altogether.",
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      "text": "The United States has significant concerns with the planned rule changes under the Proposed Settlement. Evidence from other multiple listing services suggests that merely tweaking a buyer-broker commission rule to allow zero-percent commissions does little to “unfetter a market from anti-competitive conduct and ‘pry open to competition a market that has been closed by defendants’ illegal restraints.’” Ford Motor Co. v. United States, 405 U.S. 562, 577–78 (1972) (quoting Int’l Salt Co. v. United States, 332 U.S. 392, 401 (1947)). To the contrary, rules such as those presented may merely perpetuate an antitrust violation through slightly modified means: MLS PIN’s proposed rule changes still establish an elaborate protocol (under penalty of sanction) regulating buyer-broker commissions, including requiring the listing broker to initially set the “total amount of compensation offered” (including the number zero) in the listing. Thus, MLS PIN would continue to organize and facilitate brokers’ blanket, unilateral offers of compensation to buyer brokers.",
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      "text": "The United States has significant concerns with the planned rule changes under the Proposed Settlement. Evidence from other multiple listing services suggests that merely tweaking a buyer-broker commission rule to allow zero-percent commissions does little to “unfetter a market from anti-competitive conduct and ‘pry open to competition a market that has been closed by defendants’ illegal restraints.’” — DOJ Statement of Interest in Nosalek v. MLS Property Information Network, Inc.",
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      "text": "Source: Bloomberg article, DOJ statement of interest",
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      "text": "The DOJ Is Also Involved In The Issue",
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