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 listing the house in the MLS and placing it on numerous websites, he provides the seller assistance once the buyer is discovered. In addition to the flat charge rate of $495 paid at time of listing, the "flat-fee plus" choice needs the seller also to pay $1,500 at closing.
at 68 (describing the choice). 280. In an address at the start of the Workshop, (then Acting) Assistant Chief Law Officer Thomas Barnett observed that minimum-service laws and guidelines can be considered as no various from states passing a policy that states: "When I walk into McDonald's and buy a hamburger, I'm informed that I likewise have to purchase some french fries, because the state has chosen that it may be misleading or deceptive 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, Agent Baker analogized minimum-service laws and policies to requiring a customer to have his or her entire home painted when she or he just wanted the patio painted. See Hearing, supra note 1, at 30 (statement of Rep.
Baker, member House Comm. on Financial Providers), offered at http://frwebgate. access.gpo. gov/cgi-bin/getdoc. Click here cgi?dbname= 109_house_hearings & docid= f:31541. pdf. 281. See Farmer, Tr. at 105 (keeping in mind that he completes against standard "agents out there that deal little or no value to the deal."). 282. See Lewis, Tr. at 179 (" While some customers might be advanced enough to represent themselves in some or all of the actions of a deal, a lot of are not.").
22, 2005, readily available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (pricing quote Texas Association of Realtors declaring that minimum-service rules would prevent consumer confusion); Peter G. Baker, Hiring a Broker: Should You wesley financial group, llc 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 ought to be able to refuse any brokerage service or obligation.
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We do not, for instance, permit consumers to save money by hiring doctors who cut expenses by not sanitizing surgical instruments or cleaning 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 because they cultivate cost settlements prior to getting in a representation contract 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 response to an FTC questionnaire, respondents from Colorado, North Dakota, Vermont, and Washington kept in mind that complaints against limited service brokers were minimal or nonexistent. The questionnaire is available at http://www.
htm. 288. Our evaluation of fee-for-service broker websites reveals that customers appear to have all set access to prices 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 an essential condition for the hold-up theory to be plausible that customers just find out the rates for additional services after they have actually entered into a special listing arrangement.
Ohlhausen, Minimum-Service Requirements in Realty Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about different theoretical and empirical factors why the hold-up theory does not appear to apply to fee-for-service brokerage). 289. See Farmer, Tr - what is rvm in real estate. at 71-72. 290. Kunz, Tr. at 82-83. See likewise Perriello, Tr. at 152 (speaking for Cendant, and mentioning that "our company believe that customers.
ought to be able to choose their service models as well as the supplier of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. what is earnest money in real estate. 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. See Katherine A. Pancak et al., Realty Agency Reform: Satisfying the Requirements of Buyers, Sellers, and Brokers, 25 REAL ESTATE L.J. 345, 350 (1997) (keeping in mind that company relationships can be developed 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 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 settlements conducted by a licensee pursuant to the authorization will not develop or imply a company relationship in between that licensee and the client of that special broker."). 303. VA CODE 54. 1-2132( C) (efficient July 1, 2007) (" A licensee engaged by a seller in a genuine estate transaction may, unless prohibited by law or the brokerage relationship, supply support to a Article source purchaser or prospective purchaser 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. Realty Multi-List, 629 F. 2d 1351, 1374 (5th Cir. 1980) (" [W] hen broker participation in the [MLS] is high, the service itself is economically effective and competitors from other listing services is doing not have, rules 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 discussion of the different private litigation including declared MLS-related restraints is beyond the scope of this Report.
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For a conversation of special agency contracts 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 SURVEY, supra note 38, at 29-30. 312. Austin Bd. of Realtors, FTC Dkt. No. C-4167; Information 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., Details and Realty Services, LLC, FTC File No (what is an encumbrance in real estate). 061-0087, at 6 (2006) (analysis to assist public comment), readily available at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (problem), 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 Real Estate Brokers of Rockland, Ltd., Dkt.