278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker describes this as his "flat-fee plus" alternative, where, in addition to listing the home in the MLS and putting it on several sites, he supplies the seller assistance once the purchaser is discovered. In addition to the flat cost price of $495 paid at time of listing, the "flat-fee plus" choice 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 regulations can be considered as no different from states passing a regulation that says: "When I walk into McDonald's and order a hamburger, I'm informed that I also need to purchase some french fries, because the state has actually chosen that it may be misleading or misleading or bad if I just got the hamburger, spent for it and didn't understand I wasn't going to get the french fries." Barnett, Tr.
Similarly, at a current Congressional hearing on competition in the genuine estate brokerage market, Representative Baker analogized minimum-service laws and guidelines to requiring a customer to have his/her whole home painted when he or she only desired the porch painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member Home Comm. on Financial Providers), offered at http://frwebgate. access.gpo. gov/cgi-bin/getdoc. cgi?dbname= 109_house_hearings & docid= f:31541. pdf. 281. See Farmer, Tr. at 105 (keeping in mind that he contends https://pbase.com/topics/lynethb0za/tbmlidp157 against conventional "agents out there that offer 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 steps of a deal, a lot of are not.").
22, 2005, offered 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, Hiring a Broker: Should You Anticipate Less?, REAL ESTATE TIMES, Apr. 11, 2006, available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Federal government companies] argue that with disclosures and waivers customers need to have the ability to refuse any brokerage service or commitment.
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We do not, for instance, enable customers to save cash by working with doctors who cut expenses by not decontaminating surgical instruments or washing 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 since they promote rate settlements before 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 reaction to an FTC questionnaire, respondents from Colorado, North Dakota, Vermont, and Washington noted that problems against limited service brokers were minimal or nonexistent. The survey is offered at http://www.
htm. 288. Our review of fee-for-service broker websites exposes that consumers appear to have prepared access to rates that fee-for-service You can find out more brokers charge for additional services beyond the MLS-only alternative in advance of entering into a contractual relationship. This finding undermines a needed condition for the hold-up theory to be possible that consumers just learn the prices for additional services after they have participated in an exclusive listing arrangement.
Ohlhausen, Minimum-Service Requirements in Realty 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 use to fee-for-service brokerage). 289. See Farmer, Tr - what Find more info is noi in real estate. 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.
ought to be able to pick their service designs along with the service provider of those services, whether they be minimal service or full-service"). 291. Sambrotto, Tr. how to become a real estate developer. 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), 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. See Katherine A. Pancak et al., Real Estate Firm Reform: Meeting the Needs of Purchasers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (noting that agency relationships can be developed by actions).
Whatley, Tr. at 48. 299. Avoiding fee-for-service listings without disclosure to buyers, however, might raise issues 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, REALTY TIMES, Feb. 24, 2005, offered at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Modified Code and settlements conducted by a licensee pursuant to the authorization will not produce or imply a firm relationship in between that licensee and the customer 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 forbidden by law or the brokerage relationship, offer help 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, 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 financially successful and competition from other listing services is doing not have, rules which invite 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 different private lawsuits involving alleged MLS-related restraints is beyond the scope of this Report.
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For a discussion of special firm contracts and 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 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., Info and Genuine Estate Solutions, LLC, FTC File No (how do real estate agents get paid). 061-0087, at 6 (2006) (analysis to aid public remark), offered at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (complaint), 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), available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Realty Brokers of Rockland, Ltd., Dkt.