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 placing it on a number of sites, he offers the seller help once the buyer is found. In addition to the flat cost 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 (explaining the alternative). 280. In an address at the beginning of the Workshop, (then Performing) Assistant Lawyer General Thomas Barnett observed that minimum-service laws and guidelines can be considered as no different from states passing a policy that states: "When I walk into McDonald's and buy a hamburger, I'm told that I also need to buy some french fries, because the state has decided that it might be misleading or misleading or bad if I only got the hamburger, paid for it and didn't realize I wasn't going to get the french fries." Barnett, Tr.
Similarly, at a recent Congressional hearing on competition in the property brokerage industry, Representative Baker analogized minimum-service laws and regulations to requiring a consumer to have his/her whole home painted when she or he just wanted the porch painted. See Hearing, supra note 1, at 30 (statement of Rep.
Baker, member Home Comm. on Financial Solutions), 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 completes against standard "representatives out there that deal little or no worth to the transaction."). 282. See Lewis, Tr. at 179 (" While some customers might be advanced sufficient to represent themselves in some or all of the actions of a deal, many are not.").
22, 2005, readily available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (quoting Texas Association of Realtors declaring that minimum-service rules would avoid consumer confusion); Peter G. Baker, Working With a Broker: Should You Anticipate Less?, REALTY TIMES, Apr. 11, 2006, readily available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government companies] argue that with disclosures and waivers consumers need 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 employing doctors who cut costs by not sanitizing surgical instruments or washing their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Real Estate 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 rate settlements prior to going into 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 response to an FTC questionnaire, participants from Colorado, North Dakota, Vermont, and Washington noted that grievances against restricted service brokers were minimal or nonexistent. The survey is available at http://www.
htm. 288. Our review of fee-for-service broker sites reveals that customers appear to have ready access to prices that fee-for-service brokers charge for extra services beyond the MLS-only choice in advance of participating in a contractual relationship. This finding weakens a necessary condition for the hold-up theory to be plausible that customers only find out the prices for additional services after they have actually entered into a special listing arrangement.
Ohlhausen, Minimum-Service Requirements in Property Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (going over numerous theoretical and empirical reasons the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - what can i do with a real estate license. at 71-72. 290. Kunz, Tr. at 82-83. See also Perriello, Tr. at 152 (speaking for Cendant, and specifying that "we believe that consumers.
ought to be able to pick their service models as well as the service provider of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. how to become a real estate agent in pa. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CONSUMER FEDERATION OF AMERICA, HOW THE REAL ESTATE CARTEL HURTS 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., Real Estate 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. Preventing fee-for-service listings without disclosure to purchasers, however, may raise http://judahqfgy768.evenweb.com/about-how-to-invest-in-real/facts-about-how-to-become-a-real concerns worrying the satisfaction of fiduciary responsibilities. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Property Associations Stand 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 performed by a licensee pursuant to the permission shall not create or suggest a firm relationship in 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 More help real estate transaction may, unless forbidden by law or the brokerage relationship, provide assistance to a buyer or potential purchaser by carrying out ministerial stop paying timeshare 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. Realty Multi-List, 629 F. 2d 1351, 1374 (5th Cir. 1980) (" [W] hen broker involvement in the [MLS] is high, the service itself is financially successful and competition from other listing services is doing not have, rules which invite the unjustified exclusion of any broker need to 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 various personal litigation involving declared MLS-related restraints is beyond the scope of this Report.
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For a discussion of exclusive agency contracts 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 SURVEY, 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 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 (how to make money in real estate with no money). 061-0087, at 6 (2006) (analysis to aid public comment), available at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (grievance), offered 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 Real Estate Brokers of Rockland, Ltd., Dkt.