usdoj.gov/ atr/cases/f208300/ 208393. htm. 245. See Amended Final Judgment and Order, United States v. Kentucky Realty Comm' n, Civ. Action No. 3:05 CV188-H, available at http://www. usdoj.gov/ atr/cases/f210100/ 210142. htm. 246. Because the approval decree was gone into, consumers in Kentucky have actually benefited from new reduced rate business models. For instance, one realty company offers a 1% cash back rebate program for home purchasers; another uses refunds worth approximately $2,250 in the kind of HomeDepot or American Express present cards; and another provides to pay moving expenses of approximately $1,500 to consumers who buy specific residential or commercial properties.
For more on types of refunds offered in Kentucky and nationwide, see, e. g., Mariwyn Evans, Law: Customer Rebates, REAL ESTATE AGENT PUBLICATION ONLINE (Jan. how do real estate agents make money. 1, 2006), offered at http://www. realtor.org/rmoprint. nsf/pages/lawjan06; Jessica Swesey, Web stock brokerage leaders enter online property, INMAN NEWS (Apr. 6, 2006), offered at http://www. inman.com/inmannews. aspx?ID= 50907.
Kentucky Problem at 3. 248. Id. at 3. 249. Id. A couple of brokers surveyed supported removing the refund restriction, acknowledging a few of the procompetitive benefits that reverse of the restriction would cultivate. One broker observed: "Refunds will increase competition and provide consumers more options in service." Id. at 3. 250.
17, 2005), available at http://www. usdoj.gov/ atr/public/press _ releases/2005/210637. htm; DOJ, West Virginia Realty Commission Allows Property Brokers To Offer Rebates And Other Discounts (May 4, 2006), offered at http://www. usdoj.gov/ atr/public/press _ releases/2006/215961. htm. 251. In response to DOJ's investigation, the Tennessee Realty Commission voted to suspend enforcement of its rebate ban on July 13, 2006, and subsequently voted to rescind the offending guideline.
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9-10, 2006) (reversing guideline). Pursuant to the state's administrative procedures, the Tennessee Realty Commission scheduled a public hearing relating to the rebate restriction's last repeal for May 2007. See Tenn. Admin. Reg. vol. 33, no. 3( Mar. 2007), Notification of Rulemaking, offered at http://www. tn.gov/ sos/rules _ hearingnotices/2007/1260/ 1260. 20070228.02-37-07. notice.pdf (last upgraded Feb.
252. Perriello, Tr. at 151. 253. Id. 254. Lewis, Tr. at 180. 255. Henderson, Tr. at 154-155. 256. DelBianco, Tr. at 183. 257. Henderson, Tr. at 157. 258. Hahn believes that rebating will hilton timeshare have a favorable effect on customer well-being, and sees no engaging economic rationale for not permitting rebates because they are a type of price competition that must enhance effectiveness by putting pressure on brokerages to provide better services at lower prices.
259 - how to take real estate photos. A special brokerage arrangement is specified as "a composed brokerage agreement which offers that the broker has the sole right, through the broker or through one or more affiliated licensees, to act as the unique minimal representative, agent, or deal broker of the customer or client that satisfies the requirements of area 339.
REV. STATUTES. 710( 16 ). 260. MO. REV. STATUTES 339. 780( 7 )( 1 )-( 3 ). 261. ALA. CODE 34-27-84( c). 262. See H.B. 135, 2007 Leg., 59th Sess. (2007 ). This expense, signed into law on March 22, 2007, becomes efficient July 1, 2007. On its face, the law is unclear as to whether it needs brokers in fact to perform the service of getting and presenting deals and counteroffers or just requires them to make themselves "offered" to their customer to do so.
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263. 225 IL. COMP. STATS. 454/1 -10. 264. IN. CODE 25-34. 1-10-9. 5. 265. IOWA CODE 543B.56 A. 266. TEX OCC. CODE 1101. 557. 267. UTAH CODE 61-2-27( 2 )( a). 268. Several states, including Delaware, Florida, Ohio, Oklahoma, Tennessee, and Wisconsin, have less restrictive laws that permit the client to decide whether he or she desires the listing broker to perform such services.
CODE tit. 24 2973, FLA. STAT. 475. 278, OHIO CODE 4735. 621, OKLA. STAT. tit (how much does real estate agents make). 59Â 858-353, TENN. CODE tit. 62-13-403, WI. CODE 452. 133. Virginia also has a get more info less limiting law that needs the broker who is supplying minimal services to reveal the services that he or she will carry out.
CODE 54. 1-2138. 1. 269. Kentucky S.B. 43, readily available at http://www. lrc.ky. gov/record/06RS/ SB43. htm. 270. Michigan H.B. 4849, offered at http://www. legislature.mi. gov/documents/2005 -2006/ billengrossed/House/pdf/ 2005-HEBH-4849. pdf. 271. Mississippi S.B. 2782, readily available at http://billstatus. ls.state. ms.us/ documents/2006/html/ SB/2700 -2799/ SB2782IN.htm. 272. See Glenn Roberts, Jr., New Mexico Rescinds Controversial Property Rules, INMAN NEWS (July 17, 2006), readily available at http://www.
aspx?ID= 54526. 273. At the time of publication of this Report, the Rhode Island legislature is considering minimum-service requirements. The Nevada legislature is thinking about a bill to permit consumers to waive the minimum- service requirements established by the Nevada Realty Commission, all of which is part of a package recommended by a minimum-service task force the Commission developed.
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See Letter from DOJ to Oklahoma Representatives and Senators (Apr. 8, 2005), readily available at http://www. usdoj.gov/ atr/public/comments/ 209203. htm; Letter from FTC and DOJ to Michigan State Sen. Alan Sanborn (Oct (how to buy real estate with no money). 18, 2005), offered at http://www. ftc.gov/ os/2005/10/ 051020commmihousebill4849. pdf; Letter from the FTC and DOJ to Governor Matt Blunt (May 23, 2005), readily available at http://www.
htm; Letter from the FTC and DOJ to Alabama Senate (May 12, 2005), readily available at http://www. ftc.gov/ os/2005/05/ 050512ltralabamarealtors. pdf; Letter from the FTC and DOJ to Loretta R. DeHay, Gen. Counsel, Texas Realty Comm' n. (Apr. 20, 2005), readily available at http://www. usdoj.gov/ atr/public/comments/ 209229. htm; Letter from DOJ to the New Mexico Property Commission (Nov.
usdoj.gov/ atr/public/comments/ 212656. htm. 275. MLS-only packages are bundles where, for a flat fee, the fee-for-service broker accepts note the seller's house on the MLS by making a unilateral deal of settlement and cooperation to all of the other brokers within the MLS. The seller then presumes duty for future jobs connected to the sale of his or her home.
g., Your Igloo Real Estate, http://www. yourigloo.com/ (last visited Apr. 16, 2007). the fountains resort orlando timeshare promotion Need to another broker in the MLS procure the purchaser that eventually purchases the seller's house, the charge- for-service broker is typically obligated under MLS rules to pay the cooperative compensation noted on the MLS to that broker. See supra Chapter I.A. 3.
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The ability to buy individual brokerage services, without buying the complete bundle offered by complete- service brokers, is significantly essential to consumers. Hahn, for instance, suggested that there might be a shift towards "a new era" in the market in which property companies will establish and utilize a variety of different service models.
He anticipated that some firms would concentrate on specific parts of genuine estate deals permitting consumers to choose what fits their needs. Id. Hahn observed that such specialization and dividing of property services into smaller sized parts might result in "significant gains for customers." Id. 277. Press accounts show that fee-for-service brokers have raised their costs or left the marketplace completely in response to minimum-service laws.
1, INMAN NEWS (Oct. 12, 2005), available at http://www. inman.com/inmannews. aspx?ID= 48325; see likewise http://www. texasdiscountrealty.com/laws - how to generate real estate leads. htm (website of Texas Discount Real estate describing that "because of the added responsibilities required on to you, the seller and us the broker, by [the Texas minimum-service law], we are forced, as a lot of brokers to change our costs"); Tracy Donhardt, New Law Provides Real Estate Agents and Edge, INDIANAPOLIS COMPANY JOURNAL (July 10, 2006), offered at http://indybiznow.