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 noting the house in the MLS and putting it on several websites, he provides the seller assistance once the purchaser is found. In addition to the flat charge price of $495 paid at time of listing, the "flat-fee plus" option requires the seller likewise to pay $1,500 at closing.
at 68 (describing the option). 280. In an address at the beginning of the Workshop, (then Acting) Assistant Chief Law Officer Thomas Barnett observed that minimum-service laws and guidelines can be seen as no various from states passing a policy that says: "When I stroll into McDonald's and buy a hamburger, I'm informed that I also need to buy some french fries, because the state has actually chosen that it may be misleading or deceptive or bad if I just got the hamburger, paid for it and didn't recognize I wasn't going to get the french fries." Barnett, Tr.
Similarly, at a current Congressional hearing on competitors in the property brokerage market, Representative Baker analogized minimum-service laws and guidelines to needing a consumer to have his/her whole home painted when she or he only wanted the patio painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member Home Comm. on Financial Services), 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 contends against traditional "representatives out there that deal little or no worth to the transaction."). 282. See Lewis, Tr. at 179 (" While some customers might be sophisticated adequate to represent themselves in some or all of the steps of a deal, a lot of are not.").
22, 2005, offered at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing estimate Texas Association of Realtors declaring that minimum-service rules would prevent consumer confusion); Peter G. Baker, Hiring a Broker: Should You Anticipate Less?, REALTY TIMES, Apr. 11, 2006, offered at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government firms] argue that with disclosures and waivers customers should be able to decline any brokerage service or commitment.
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We do not, for example, allow consumers to save money by hiring physicians who cut costs by not sanitizing surgical instruments or washing 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 promote cost negotiations before going into a representation agreement 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 action to an FTC questionnaire, respondents from Colorado, North Dakota, Vermont, and Washington noted that grievances versus restricted service brokers were minimal or nonexistent. The questionnaire is offered at http://www.
htm. 288. Our evaluation of fee-for-service broker websites exposes that consumers appear to have ready access to prices that fee-for-service brokers charge for extra services beyond the MLS-only option in advance of getting in into a contractual relationship. This finding weakens a necessary condition for the hold-up theory to be possible that consumers only discover the rates for extra services after they have entered into an unique listing contract.
Ohlhausen, Minimum-Service Requirements in Real Estate Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (discussing various theoretical and empirical reasons the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - how do real estate agents make money. 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 consumers.
need to have the ability to choose their service designs as well as the provider of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. what does under contract mean 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), offered 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: Satisfying the Needs of Buyers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (keeping in mind 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 issues concerning the fulfillment 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, available at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Revised Code and settlements carried out by a licensee pursuant to the Get more information authorization shall not produce or indicate a firm relationship in between that licensee and the client of that special broker."). 303. VA CODE 54. 1-2132( C) (effective July 1, 2007) (" A licensee engaged by a seller in a property deal may, unless forbidden by law or the brokerage relationship, supply help to a buyer or potential 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, 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 financially successful and competitors from other listing services is doing not have, rules which welcome the unjustified exemption of any broker must 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., No. Civ. A-00-CA- 154 JN, 2000 WL 34239114, at * 4 (W.D. Tex. Mar. 30, 2000). A discussion of the various private lawsuits involving declared MLS-related restraints is beyond the scope of this Report.
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For a discussion of olivia nelson browning special firm agreements and https://rowannrvj620.bcz.com/2022/02/26/how-to-buy-commercial-real-estate-truths/ other kinds of noting 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 Property Services, 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., Details and Property Solutions, LLC, FTC File No (how much does real estate agents make). 061-0087, at 6 (2006) (analysis to aid public remark), available at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (grievance), 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 Property Brokers of Rockland, Ltd., Dkt.