Go to the Department of Justice's webpage for its Competition and Real Estate Antitrust Division athttp www justice gov atr public real estate index html Use the information on this pageand the information contained in the links on this pageto answer the following questions You may also use theSummary of US State Laws Pertaining to Real Estate Brokerage Services to guide you for part a What barriers to entry are there in the real estate market How do they differ across the country Are there any specific requirements for conducting business in the real estate market in your state that act as barriers to entry Follow the link Laws that raise closing costs Draw a market supply and demand curve representing a state with no restrictions on who can conduct the real estate closing transaction What would change in the market if a state legislated that real estate closings must be conducted by lawyers Show this graphically Are there any reasons why limiting the transactions to lawyers only might benefit consumers Follow the link Anti competitive MLS practices Has the Department of Justice ever challenged a multiple listing service (MLS) Give an example of a case Why does the Department of Justice think that it is possible for an MLS to be anti competitive

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Go to the Department of Justice's webpage for its Competition and Real Estate Antitrust Division athttp://www.justice.gov/atr/public/real_estate/index.html Use the information on this pageand the information contained

Go to the Department of Justice's webpage for its Competition and Real Estate Antitrust Division athttp://www.justice.gov/atr/public/real_estate/index.html

Use the information on this pageand the information contained in the links on this pageto answer the following questions. You may also use theSummary of US State Laws Pertaining to Real Estate Brokerage Services

to guide you for part a.

What barriers to entry are there in the real estate market? How do they differ across the country? Are there any specific requirements for conducting business in the real estate market in your state that act as barriers to entry?
Follow the link "Laws that raise closing costs." Draw a market supply and demand curve representing a state with no restrictions on who can conduct the real estate closing transaction. What would change in the market if a state legislated that real estate closings must be conducted by lawyers? Show this graphically. Are there any reasons why limiting the transactions to lawyers only might benefit consumers?
Follow the link "Anti-competitive MLS practices." Has the Department of Justice ever challenged a multiple listing service (MLS)? Give an example of a case. Why does the Department of Justice think that it is possible for an MLS to be anti-competitive?