A Tragedy of the Commons

A Center for Data Innovation study recently argued that Multiple Listing Services and the National Association of Realtors have harmed Redfin’s ability to compete. Redfin supports the study’s goal, to encourage competition and lower the fees paid by consumers buying and selling homes. So far as we know, we save consumers more money on fees than any other U.S. real estate business, about $100 million each year. But this study’s proposals would hurt, not help, real estate consumers, and the study in no way reflects our views.

Redfin Has Not Been Hindered by the MLS

The study claims it is unnecessarily cumbersome for “Internet brokers such Redfin to be licensed brokers” in every state or to “apply for and maintain membership in every single MLS within these states.”

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