278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker explains this as his "flat-fee plus" alternative, where, in addition to listing the home in the MLS and putting it on numerous sites, he provides the seller assistance once the buyer is found. In addition to the flat fee cost of $495 paid at time of listing, the "flat-fee plus" option needs the seller also to pay $1,500 at closing.
at 68 (explaining the option). 280. In an address at the beginning of the Workshop, (then Performing) Assistant Attorney General Of The United States Thomas Barnett observed that minimum-service laws and regulations can be deemed no various from states passing a guideline that says: "When I stroll into McDonald's and order a hamburger, I'm informed that I likewise have to buy some french fries, because the state has decided that it may be misleading or deceptive or bad if I http://riverptko821.lucialpiazzale.com/fascination-about-how-do-i-become-a-real-estate-agent only got the hamburger, spent for it and didn't realize I wasn't going to get the french fries." Barnett, Tr.
Likewise, at a recent Congressional hearing on competition in the realty brokerage market, Representative Baker analogized minimum-service laws and guidelines to requiring a consumer to have his/her whole house painted when he or she only desired the deck painted. See Hearing, supra note 1, at 30 (statement of Rep.
Baker, member Home Comm. on Financial Solutions), 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 (keeping in mind that he completes against standard "agents out there that offer little or no value to the deal."). 282. See Lewis, Tr. at 179 (" While some consumers might be sophisticated sufficient to represent themselves in some or all of the actions of a transaction, a lot of are not.").
22, 2005, offered at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing estimate Texas Association of Realtors claiming that minimum-service guidelines would prevent customer confusion); Peter G. Baker, Hiring a Broker: Should You Expect Less?, REALTY TIMES, Apr. 11, 2006, offered at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government agencies] argue that with disclosures and waivers consumers ought to have the ability to refuse any brokerage service or responsibility.
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We do not, for example, enable customers to conserve money by hiring physicians who cut expenses by not sanitizing surgical instruments or cleaning their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Property Brokerage: A Response to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive since they foster price settlements before entering a representation contract over what a fee-for-service broker will charge for all the services required 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 action to an FTC survey, participants from Colorado, North Dakota, Vermont, and Washington kept in mind that problems versus restricted service brokers were very little or nonexistent. The questionnaire is readily available at http://www.
htm. 288. Our review of fee-for-service broker sites exposes that customers appear to have ready access to prices that fee-for-service brokers charge for additional services beyond the MLS-only alternative in advance of entering into a contractual relationship. This finding weakens a necessary condition for the hold-up theory to be plausible that consumers just find out the costs for additional services after they have actually entered into an unique listing agreement.
Ohlhausen, Minimum-Service Requirements in Property Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about different 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 ga. at 71-72. 290. Kunz, Tr. at 82-83. See also Perriello, Tr. at 152 (speaking for Cendant, and mentioning that "we believe that consumers.
ought to have the ability to pick their service models in addition to the service provider of those services, whether they be minimal service or full-service"). 291. Sambrotto, Tr. how to become a real estate agent in illinois. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CUSTOMER FEDERATION OF AMERICA, HOW THE REALTY CARTEL DAMAGES CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES (June 2006), offered at http://www.
How How To Get Started In Real Estate Investing 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., Real Estate Company Reform: Meeting the Needs of Buyers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (keeping in mind that company relationships can be developed by actions).
Whatley, Tr. at 48. 299. Avoiding fee-for-service listings without disclosure to buyers, nevertheless, might raise issues worrying the satisfaction of fiduciary tasks. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Property Associations Base On MLS-Entry-Only Listings, REAL ESTATE TIMES, Feb. 24, 2005, available at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Revised Code and settlements performed by a licensee pursuant to the permission will not produce or imply a company relationship in between that licensee and the client of that special broker."). 303. VA CODE 54. 1-2132( timeshare presentation for disney tickets C) (reliable July 1, 2007) (" A licensee engaged by a seller in a genuine estate transaction may, unless restricted by law or the brokerage relationship, offer help to a buyer or possible 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 involvement in the [MLS] is high, the service itself is economically successful and competitors from other listing services is lacking, rules which invite the unjustified exclusion of any broker should be discovered 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., can you refuse to inherit a timeshare No. Civ. A-00-CA- 154 JN, 2000 WL 34239114, at * 4 (W.D. Tex. Mar. 30, 2000). A discussion of the different personal lawsuits involving declared MLS-related restraints is beyond the scope of this Report.
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For a discussion of special firm contracts and other kinds 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; Information and Realty Solutions, 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 of Realtors, Inc., FTC File No. 051-0217. 313. See, e. g., Information and Property Solutions, LLC, FTC File No (how to get a real estate license in ohio). 061-0087, at 6 (2006) (analysis to aid public comment), offered at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (problem), available at http://www. ftc.gov/ os/caselist/0510219/ 0510219AustinBoardofRealtorsComplaint. pdf. 315. Id. at 27. 316. See MiRealSource, Inc., FTC Dkt. No. 9321 (2007) (decision and order), available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Real Estate Brokers of Rockland, Ltd., Dkt.