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 sites, he offers the seller assistance once the purchaser is discovered. In addition to the flat fee rate of $495 paid at time of listing, the "flat-fee plus" alternative requires the seller likewise to pay $1,500 at closing.
at 68 (explaining the choice). 280. In an address at the start of the Workshop, (then Acting) Assistant Attorney General Thomas Barnett observed that minimum-service laws and policies can be deemed no various from states passing a policy that states: "When I walk into McDonald's and purchase a hamburger, I'm told that I likewise have to buy some french fries, due to the fact that the state has decided that it may 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.
Likewise, at a recent Congressional hearing on competitors in the genuine estate brokerage industry, Representative Baker analogized minimum-service laws and guidelines to needing a consumer to have his/her entire house painted when she or he only desired the porch painted. See Hearing, supra note 1, at 30 (statement of Rep.
Baker, member House Comm. on Financial Providers), 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 contends versus traditional "agents out there that deal little or no worth to the deal."). 282. See Lewis, Tr. at 179 (" While some customers may be sophisticated enough to represent themselves in some or all of the actions of a transaction, most are not.").
22, 2005, readily available 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, Working With a Broker: Should You Expect Less?, REAL ESTATE TIMES, Apr. 11, 2006, readily available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government companies] argue that with disclosures and waivers consumers ought to be able to refuse any brokerage service or obligation.
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We do not, for example, enable customers to save cash by working with physicians who cut costs by not disinfecting surgical instruments or cleaning their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Realty Brokerage: An Action to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive due to the fact that they foster cost settlements prior to getting in a representation arrangement 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 reaction to an FTC survey, participants from Colorado, North Dakota, Vermont, and Washington noted that complaints Visit website versus limited service brokers were very little or nonexistent. The questionnaire is readily available at http://www.
htm. 288. Our evaluation of fee-for-service broker sites exposes that consumers appear to have prepared access to prices that fee-for-service brokers charge for additional services beyond the MLS-only alternative in advance of participating in a legal relationship. This finding weakens a needed condition for the hold-up theory to be plausible that customers just discover the costs for additional services after they have entered into an exclusive listing arrangement.
Ohlhausen, Minimum-Service Requirements in Property Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (going over various theoretical and empirical reasons that the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - what is earnest money in real estate. at 71-72. 290. Kunz, Tr. at 82-83. See likewise Perriello, Tr. at 152 (speaking for Cendant, and mentioning that "our company believe that customers.
need to be able to select their service models along with the supplier of those services, whether they be limited service or full-service"). 291. Sambrotto, Tr. what is redlining in real estate. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CUSTOMER FEDERATION OF AMERICA, HOW THE PROPERTY CARTEL HARMS CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES (June 2006), 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., Property Agency Reform: Meeting the Requirements 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. Avoiding fee-for-service listings without disclosure to purchasers, however, might raise problems worrying the satisfaction of fiduciary duties. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Real Estate Associations Base On MLS-Entry-Only Listings, REALTY TIMES, Feb. 24, 2005, offered at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Revised Code and negotiations conducted by a licensee pursuant to the authorization will not produce or indicate a firm relationship between that licensee and the client of that special broker."). 303. VA CODE 54. 1-2132( C) (efficient July 1, 2007) (" A licensee engaged by a seller in a property deal may, unless prohibited by law or the brokerage relationship, provide assistance to a buyer or prospective buyer 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, wfg presentation 872 (E.D. Cal. 2004). 307. Id. at 879. 308. United States v. Realty Multi-List, 629 F. 2d 1351, 1374 (5th Cir. 1980) (" [W] hen broker participation in the [MLS] is high, the service itself is economically successful and competitors from other listing services is doing not have, rules which invite the unjustified exclusion of any broker must be discovered unreasonable.").
See, e. Get more information 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 conversation of the different private litigation including alleged MLS-related restraints is beyond the scope of this Report.
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For a discussion of special agency contracts and other kinds of noting agreements, see supra Chapter I.A. 2. 310. See Farmer, Tr. at 74-75; Sambrotto, Tr. at 90. 311. NAR 2005 SURVEY, supra note 38, at 29-30. 312. Austin Bd. of Realtors, FTC Dkt. No. C-4167; Info and Genuine Estate Providers, LLC, FTC File No.
051-0065; Williamsburg Location 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 Genuine Estate Providers, LLC, FTC File No (how to get real estate license in ga). 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), 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) (choice and order), readily available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Realty Brokers of Rockland, Ltd., Dkt.