According to Bloomberg’s By David McLaughlin and Patrick Clark, U.S. regulators are conducting an investigation of “potentially anti-competitive practices in the residential real estate brokerage business.” According to the Bloomberg report, the focus of the probe will be “on compensation to brokers and restrictions on their access to listings.” “The probe was detailed in a civil investigative demand, which is akin to a subpoena, issued by the Justice Department to CoreLogic (CLGX), a provider of real estate data to government agencies, lenders and other housing-market participants.Companies that may be impacted by this include Marcus & Millichap (MMI), RE/MAX Holdings (RMAX), Redfin (RDFN), Realogy (RLGY) and Zillow (Z).
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