278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker describes this as his "flat-fee plus" choice, where, in addition to noting the house in the MLS and positioning it on a number of websites, he provides the seller assistance once the purchaser is found. In addition to the flat cost price of $495 paid sometimes of listing, the "flat-fee plus" alternative requires the seller also to pay $1,500 at closing.
at 68 (describing the option). 280. In an address at the start of the Workshop, (then Performing) Assistant Attorney General Thomas Barnett observed that minimum-service laws and guidelines can be seen as no various from states passing a guideline that states: "When I walk into McDonald's and buy a hamburger, I'm informed that I also need to buy some french fries, due to the fact that the state has chosen that it may be misleading or deceptive or bad if I only got the hamburger, spent for it and didn't understand I wasn't going to get the french fries." Barnett, Tr.
Likewise, at a current Congressional hearing on competitors in the genuine estate brokerage industry, Representative Baker analogized minimum-service laws and regulations to needing a consumer to have his or her entire house painted when he or she only desired the patio painted. See Hearing, supra note 1, at 30 (statement of Rep.
Baker, member House 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 contends against conventional "representatives out there that deal little or no value to the deal."). 282. See Lewis, Tr. at 179 (" While some customers may be sophisticated adequate to represent themselves in some or all of the steps of a deal, most are not.").
22, 2005, available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing estimate Texas Association of Realtors declaring that minimum-service guidelines would prevent customer confusion); Peter G. Baker, Working With a Broker: Should You Anticipate Less?, REAL ESTATE TIMES, Apr. 11, 2006, available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government agencies] argue that with disclosures and waivers customers should have the ability to refuse any brokerage service or commitment.
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We do not, for instance, permit customers to save money by employing physicians who cut expenses by not sanitizing surgical instruments or cleaning their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Real Estate Brokerage: A Response 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 rate settlements prior to entering 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 reaction to an FTC survey, participants from Colorado, North Dakota, Vermont, and Washington kept in mind that complaints versus restricted service brokers were minimal or nonexistent. The questionnaire is available at http://www.
htm. 288. Our review of fee-for-service broker sites reveals that consumers appear to have all set access to rates that fee-for-service brokers charge for additional services beyond the MLS-only option in advance of participating in a legal relationship. This finding undermines a required condition for the hold-up theory to be plausible that customers only find out the rates for extra services after they have actually participated in a special listing arrangement.
Ohlhausen, Minimum-Service Requirements in Realty Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (discussing numerous theoretical and empirical reasons why the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - what does a real estate agent do. at 71-72. 290. Kunz, Tr. at 82-83. See also Perriello, Tr. at 152 (speaking for Cendant, and stating that "our company believe that customers.
need to have the ability to choose 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 become a commercial real estate agent. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CUSTOMER FEDERATION OF AMERICA, HOW THE REAL ESTATE 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. wesley financial group scam See Katherine A. Pancak et al., Property Agency Reform: Meeting the Requirements of Purchasers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (keeping in mind that agency relationships can be produced by actions).
Whatley, Tr. at 48. 299. Preventing fee-for-service listings without disclosure to buyers, however, might raise concerns worrying the satisfaction of fiduciary tasks. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Real Estate Associations Base On MLS-Entry-Only Listings, REAL ESTATE TIMES, Feb. 24, 2005, offered 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 permission shall not develop or indicate a company 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 property transaction may, unless prohibited by law or the brokerage relationship, supply support to a purchaser or potential purchaser 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 competitors from http://sergiobmyn901.iamarrows.com/the-ultimate-guide-to-how-is-the-real-estate-market other listing services is doing not have, guidelines 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 Great post to read WL 34239114, at * 4 (W.D. Tex. Mar. 30, 2000). A discussion of the numerous personal lawsuits including declared MLS-related restraints is beyond the scope of this Report.
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For a discussion of special agency agreements 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 Property 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., Info and Realty Providers, LLC, FTC File No (how much does it cost to get a real estate license). 061-0087, at 6 (2006) (analysis to help public remark), offered at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (complaint), 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), offered at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Real Estate Brokers of Rockland, Ltd., Dkt.