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Membership in a local board is perhaps the most important affiliation a real estate broker can have, since it affords members substantial competitive advantages over nonmembers.' However, the activities of local real estate boards, like other professional and trade associations, are often subject to challenge under the Sherman Act' as being unreasonably anticompetitive. In particular, such challenges usually involve either price fixing or exclusion from board membership As with any other Sherman Act complaint, the first problem to be addressed is

Jurisdiction under the Sherman Act: The "Interstate Commerce" Element and the Activities of Local Real Estate Boards and Brokers