278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker describes this as his "flat-fee plus" alternative, where, in addition to listing the home in the MLS and placing it on several sites, he offers the seller support once the buyer is found. In addition to the flat cost rate of $495 paid at time of listing, the "flat-fee plus" alternative needs the seller likewise to pay $1,500 at closing.
at 68 (describing the choice). 280. In an address at the beginning of the Workshop, (then Acting) Assistant Attorney General Thomas Barnett observed that minimum-service laws and guidelines can be deemed no different from states passing a regulation that states: "When I stroll into McDonald's and purchase a hamburger, I'm informed that I also need to purchase some french fries, since the state has actually decided that it might be misleading or misleading or bad if I just got the hamburger, spent for it and didn't recognize I wasn't going to get the french fries." Barnett, Tr.
Similarly, at a recent Congressional hearing on competition https://israelrrnm372.skyrock.com/3347785872-Getting-The-How-Do-You-Become-A-Real-Estate-Agent-To-Work.html in the realty brokerage market, Representative Baker analogized minimum-service laws and guidelines to needing a consumer to have his or her entire home painted when he or she just desired the patio painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member Home Comm. on Financial Providers), readily available at http://frwebgate. access.gpo. gov/cgi-bin/getdoc. cgi?dbname= 109_house_hearings & docid= f:31541. pdf. 281. See Farmer, Tr. at 105 (noting that he completes versus conventional "representatives out there that deal little or no worth to the transaction."). 282. See Lewis, Tr. at 179 (" While some customers may be sophisticated enough to represent themselves in some or all of the steps of a deal, many are not.").
22, 2005, readily available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (estimating Texas Association of Realtors declaring that minimum-service guidelines would prevent customer confusion); Peter G. Baker, Working With a Broker: Should You Expect Less?, REAL ESTATE TIMES, Apr. 11, 2006, readily available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Federal government companies] argue that with disclosures and waivers consumers must be able to decline any brokerage service or commitment.
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We Find more info do not, for instance, enable customers to save money by hiring doctors who cut expenses by not disinfecting surgical instruments or cleaning their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Property Brokerage: A Reaction to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive due to the fact that they cultivate price settlements prior to getting in a representation contract over what a fee-for-service broker will charge for all the services needed by law).
See, e. g., GAO REPORT, supra note 3, at 16. 285. Thorburn, Tr. at 96. 286. Farmer, Tr. at 73. 287. In addition, in reaction to an FTC questionnaire, respondents from Colorado, North Dakota, Vermont, and Washington noted that grievances versus minimal service brokers were very little or nonexistent. The questionnaire is offered at http://www.
htm. 288. Our evaluation of fee-for-service broker sites exposes that consumers appear to have ready access to rates that fee-for-service brokers charge for additional services beyond the MLS-only alternative in advance of participating in a contractual relationship. This finding undermines an essential condition for the hold-up theory to be plausible that customers just learn the costs for additional services after they have actually gotten in into an exclusive listing contract.
Ohlhausen, Minimum-Service Requirements in Real Estate Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about numerous theoretical and empirical reasons the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - how to become a real estate agent in illinois. at 71-72. 290. Kunz, Tr. at 82-83. See also Perriello, Tr. at 152 (speaking for Cendant, and specifying that "our company believe that customers.
need to have the ability to pick their service models along with the provider of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. what is noi in real estate. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CONSUMER FEDERATION OF AMERICA, HOW THE REALTY CARTEL HURTS CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES (June 2006), available at http://www.
How What Do Real Estate Brokers Do can Save You Time, Stress, and Money.
pdf. 294. Id. at 4-5. 295. See, e. g., Lewis, Tr. at 178-79; Sambrotto, Tr. at 114; Farmer, Tr. at 115. 296. Whatley, Tr. at 45-46. 297. See Katherine A. Pancak et al., Property Firm Reform: Meeting the Needs of Buyers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (noting that firm relationships can be created by actions).
Whatley, Tr. at 48. 299. Preventing fee-for-service listings without disclosure to buyers, however, might raise concerns concerning the satisfaction of fiduciary duties. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Property Associations Stand On MLS-Entry-Only Listings, REALTY TIMES, Feb. 24, 2005, readily available at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Modified Code and negotiations carried out by a licensee pursuant to the authorization will not develop or imply an agency relationship between that licensee and the client of that unique broker."). 303. VA CODE 54. 1-2132( C) (efficient July 1, 2007) (" A licensee engaged by a seller in a genuine estate transaction may, unless prohibited by law or the brokerage relationship, offer help to a purchaser or prospective purchaser by performing ministerial acts.
304. WIS. CODE 452. 133 (6). 305. Sambrotto, Tr. at 90. 306. ForSaleByOwner. com Corp. v. Zinnemann, 347 F. Supp. 2d 868, 872 (E.D. Cal. 2004). 307. Id. at 879. 308. United States v. Real Estate Multi-List, 629 F. 2d 1351, 1374 (5th Cir. 1980) (" [W] hen broker participation in the [MLS] is high, the service itself is economically effective and competition from other listing services is lacking, rules which invite the unjustified exclusion of any broker must be found unreasonable.").
See, e. g., Thompson v. Metropolitan Multi-List, Inc., 934 F. 2d 1566, 1579-80 (11th Cir. 1991); Austin Bd. of Realtors v. E-Realty, Inc., No. Civ. A-00-CA- 154 JN, 2000 WL 34239114, at * 4 (W.D. Tex. Mar. 30, 2000). A discussion of the numerous personal lawsuits involving alleged MLS-related restraints is beyond the scope of this Report.
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For a discussion of special firm agreements and other types of listing arrangements, see supra Chapter I.A. 2. 310. See Farmer, Tr. at 74-75; Sambrotto, Tr. at 90. 311. NAR 2005 STUDY, supra note 38, at 29-30. 312. Austin Bd. of Realtors, FTC Dkt. No. C-4167; Details and Realty Providers, LLC, FTC File No.
051-0065; Williamsburg Area Ass 'n of Realtors, Inc., FTC File No. 061-0268; Realtors Ass 'n of Northeast Wisconsin, Inc., FTC File No. 061-0267; Monmouth County Ass 'n Go to this website of Realtors, Inc., FTC File No. 051-0217. 313. See, e. g., Details and Property Solutions, LLC, FTC File No (how to get a real estate license in texas). 061-0087, at 6 (2006) (analysis to help public remark), readily available at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (problem), offered at http://www. ftc.gov/ os/caselist/0510219/ 0510219AustinBoardofRealtorsComplaint. pdf. 315. Id. at 27. 316. See MiRealSource, Inc., FTC Dkt. No. 9321 (2007) (choice and order), readily available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Property Brokers of Rockland, Ltd., Dkt.