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 listing the home in the MLS and placing it on a number of sites, he supplies the seller help once the buyer is found. In addition to the flat charge price of $495 paid sometimes of listing, the "flat-fee plus" alternative needs the seller also 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 regulations can be considered as no various from states passing a regulation that says: "When I stroll into McDonald's and buy a hamburger, I'm informed that I likewise need to purchase some french fries, because the state has actually decided that it might be deceptive or misleading or bad if I only got the hamburger, spent for it and didn't realize I wasn't going to get the french fries." Barnett, Tr.
Likewise, at a current Congressional hearing on competition in the realty brokerage market, Agent Baker analogized minimum-service laws and regulations to needing a consumer to have his or her whole home painted when she or he just desired the porch painted. See Hearing, supra note 1, at 30 (declaration 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 completes versus traditional "representatives out there that offer little or no value to the transaction."). 282. See Lewis, Tr. at 179 (" While some consumers might be sophisticated sufficient to represent themselves in some or all of the actions of a deal, the majority of are not.").
22, 2005, offered at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing quote Texas Association of Realtors declaring that minimum-service guidelines would prevent customer confusion); Peter G. Baker, Working With a Broker: Should You Expect Less?, REALTY TIMES, Apr. 11, 2006, readily available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government companies] argue that with disclosures and waivers customers must be able to decline any brokerage service or responsibility.
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We do not, for instance, enable consumers to conserve money by hiring medical professionals who cut costs by not sterilizing surgical instruments or washing their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Property Brokerage: A Reaction to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive since they foster cost settlements prior to entering a representation arrangement 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 against restricted service brokers were minimal or nonexistent. The questionnaire is offered at http://www.
htm. 288. Our review of fee-for-service broker sites exposes that consumers appear to have prepared access to costs that fee-for-service brokers charge for extra services beyond the MLS-only choice in advance of participating in a legal relationship. This finding undermines an essential condition for the hold-up theory to be possible that customers just learn the prices for extra services after they have participated in an unique listing contract.
Ohlhausen, Minimum-Service Requirements in Real Estate Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about various theoretical and empirical reasons the hold-up theory does not appear to apply to fee-for-service brokerage). 289. See Farmer, Tr - what is emd in real estate. at 71-72. 290. Kunz, Tr. at 82-83. See likewise Perriello, Tr. at 152 (speaking for Cendant, and specifying that "we believe that customers.
need to Check out here be able to pick their service designs in addition to the supplier of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. what does mls stand for in real estate. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CONSUMER FEDERATION OF AMERICA, HOW THE REALTY 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 Company Reform: Satisfying https://dallasadle335.skyrock.com/3347551656-How-To-Start-Investing-In-Real-Estate-Can-Be-Fun-For-Anyone.html the Needs of Purchasers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (noting that company relationships can be created by actions).
Whatley, Tr. at 48. 299. Avoiding fee-for-service listings without disclosure to buyers, nevertheless, may raise issues worrying the fulfillment of fiduciary tasks. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Property 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 settlements carried out by a licensee pursuant to the permission shall not develop or indicate a firm relationship in between that licensee and the client of that unique broker."). 303. VA CODE 54. 1-2132( C) (reliable July 1, 2007) (" A licensee engaged by a seller in a genuine estate transaction may, unless forbidden by law or the brokerage relationship, offer support to a buyer 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 participation Click here for more info in the [MLS] is high, the service itself is economically successful and competitors from other listing services is lacking, guidelines which invite the unjustified exclusion of any broker need to 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 conversation of the numerous personal lawsuits including alleged MLS-related restraints is beyond the scope of this Report.
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For a discussion of special firm 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 STUDY, supra note 38, at 29-30. 312. Austin Bd. of Realtors, FTC Dkt. No. C-4167; Details and Realty 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 Realty Solutions, LLC, FTC File No (how to start real estate investing). 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), 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), available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Property Brokers of Rockland, Ltd., Dkt.