278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker explains this as his "flat-fee plus" choice, where, in addition to listing the home in the MLS and placing it on numerous websites, he supplies the seller support once the purchaser is discovered. In addition to the flat cost rate of $495 paid sometimes of listing, the "flat-fee plus" alternative requires the seller likewise to pay $1,500 at closing.
at 68 (explaining the option). 280. In an address at the start of the Workshop, (then Acting) Assistant Lawyer General Thomas Barnett observed that minimum-service laws and guidelines can be seen as no different from states passing a policy that states: "When I stroll into McDonald's and buy a hamburger, I'm informed that I also have to purchase some french fries, due to the fact that the state has actually chosen that it might be deceptive or deceptive or bad if I just got the hamburger, paid for it and didn't understand I wasn't going to get the french fries." Barnett, Tr.
Similarly, at a current Congressional hearing on competitors in the genuine estate brokerage industry, Representative Baker analogized minimum-service laws and guidelines to requiring a consumer to have his/her whole house painted when he or she only wanted the patio painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member House Comm. on Financial Providers), offered 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 contends versus standard "agents out there that offer little or no value to the transaction."). 282. See Lewis, Tr. at 179 (" While some customers might be sophisticated sufficient to represent themselves in some or all of the actions of a deal, many are not.").
22, 2005, available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing quote Texas Association of Realtors claiming that minimum-service rules would avoid consumer confusion); Peter G. Baker, Employing a Broker: Should You Expect Less?, REALTY TIMES, Apr. 11, 2006, available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Federal government companies] argue that with disclosures and waivers customers ought to have the ability to refuse any brokerage service or responsibility.
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We do not, for example, enable customers to save money by employing physicians who cut expenses by not decontaminating surgical instruments or washing their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Property Brokerage: An Action to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive because they foster here rate settlements prior to getting in a representation contract over what a fee-for-service broker will charge for all the services Great post to read 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 action to an FTC questionnaire, respondents from Colorado, North Dakota, Vermont, and Washington kept in mind that problems against minimal service brokers were minimal or nonexistent. The survey is readily available at http://www.
htm. 288. Our evaluation of fee-for-service broker websites exposes that customers appear to have prepared access to costs that fee-for-service brokers charge for additional services beyond the MLS-only choice in advance of participating in a legal relationship. This finding weakens a required condition for the hold-up theory to be possible that consumers only discover the prices for additional services after they have actually participated in an exclusive listing agreement.
Ohlhausen, Minimum-Service Requirements in Realty Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about numerous theoretical and empirical factors why the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - how to be a real estate investor. at 71-72. 290. Kunz, Tr. at 82-83. See also Perriello, Tr. at 152 (speaking for Cendant, and mentioning that "our company believe that customers.
need to have the ability to select their service models in addition to the service provider of those services, whether they be limited service or full-service"). 291. Sambrotto, Tr. how to get a real estate license in ohio. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CONSUMER FEDERATION OF AMERICA, HOW THE PROPERTY CARTEL HURTS CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES (June 2006), readily available at http://www.
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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., Realty Firm Reform: Fulfilling the Requirements of Buyers, Sellers, and Brokers, 25 REAL ESTATE L.J. 345, 350 (1997) (keeping in mind that firm relationships can be developed by actions).
Whatley, Tr. at 48. 299. Avoiding fee-for-service listings without disclosure to purchasers, however, may raise issues worrying the fulfillment of fiduciary responsibilities. 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 Modified Code and negotiations carried out by a licensee pursuant to the authorization shall not develop or indicate an agency relationship between that licensee and the client of that unique broker."). 303. VA CODE 54. 1-2132( C) (effective July 1, 2007) (" A licensee engaged by a seller in a genuine estate deal may, unless prohibited http://waylonfwqd417.timeforchangecounselling.com/the-best-guide-to-how-to-become-a-real-estate-agent-in-pa by law or the brokerage relationship, supply assistance to a purchaser or potential buyer by carrying out 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 effective and competition from other listing services is lacking, guidelines which welcome the unjustified exemption 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 private litigation including declared 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 noting contracts, 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 Property Services, 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 Realty Solutions, LLC, FTC File No (what is a cma in real estate). 061-0087, at 6 (2006) (analysis to help public comment), available at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (problem), readily 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), offered at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Realty Brokers of Rockland, Ltd., Dkt.