278. See HUD REPORT, supra note 201. 279. One panelist who timeshare solution is a fee-for-service broker explains this as his "flat-fee plus" choice, where, in addition to listing the house in the MLS and putting it on numerous sites, he provides the seller help once the purchaser is found. In addition to the flat cost cost of $495 paid sometimes of listing, the "flat-fee plus" choice requires the seller also to pay $1,500 at closing.
at 68 (describing the choice). 280. In an address at the beginning of the Workshop, (then Performing) Assistant Attorney General Of The United States Thomas Barnett observed that minimum-service laws and regulations can be seen as no different from states passing a guideline that states: "When I stroll into McDonald's and buy a hamburger, I'm told that I also have to buy some french fries, since the state has chosen that it may be misleading or deceptive or bad if I just got the hamburger, paid for it and didn't recognize I wasn't going to get the french fries." Barnett, Tr.
Likewise, at a recent Congressional hearing on competitors in the property brokerage industry, Representative Baker analogized minimum-service laws and policies to needing a consumer to have his/her entire house painted when he or she only wanted the deck painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member House Comm. on Financial Services), readily 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 (keeping in mind that he contends against conventional "agents out there that deal little or no value best timeshare exit companies to the transaction."). 282. See Lewis, Tr. at 179 (" While some customers might be advanced enough to represent themselves in some or all of the steps of a transaction, many are not.").
22, 2005, offered at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (estimating Texas Association of Realtors claiming that minimum-service rules would avoid customer confusion); Peter G. Baker, Working With a Broker: Should You Anticipate Less?, REAL ESTATE TIMES, Apr. 11, 2006, offered at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Government firms] argue that with disclosures and waivers customers ought to be able to decline any brokerage service or obligation.
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We do not, for example, permit customers to save money by hiring physicians who cut expenses by not disinfecting surgical instruments or cleaning their hands."). 283. See Darryl W. Anderson, Minimum-Service Requirements in Realty Brokerage: A Response to Maureen K. Ohlhausen, ANTITRUST SOURCE, Jan. 2006, at 3-4 (arguing that minimum-service requirements are procompetitive because they cultivate rate settlements before 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 reaction to an FTC survey, respondents from Colorado, North Dakota, Vermont, and Washington kept in mind that grievances versus restricted service brokers were very little or nonexistent. The survey is available at http://www.
htm. 288. Our evaluation of fee-for-service broker sites exposes that customers appear to have all set access to prices that fee-for-service brokers charge for extra services beyond the MLS-only choice in advance of entering into a contractual relationship. This finding weakens a required condition for the hold-up theory to be possible that customers only find out the costs for extra services after they have participated in an unique listing arrangement.
Ohlhausen, Minimum-Service Requirements in Realty Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (talking about different theoretical and empirical reasons that the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - what is cap rate real estate. at 71-72. 290. https://www.taringa.net/thotheavij/how-do-i-get-my-real-estate-license-things-to-know-before-you-get-this_512wih Kunz, Tr. at 82-83. See likewise Perriello, Tr. at 152 (speaking for Cendant, and mentioning that "our company believe that customers.
must be able to pick their service designs as well as the company of those services, whether they be restricted service or full-service"). 291. Sambrotto, Tr. how to become a real estate appraiser. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CUSTOMER FEDERATION OF AMERICA, HOW THE PROPERTY CARTEL HARMS CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES (June 2006), 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 Company Reform: Fulfilling the Requirements of Purchasers, Sellers, and Brokers, 25 PROPERTY L.J. 345, 350 (1997) (keeping in mind that firm relationships can be developed by actions).
Whatley, Tr. at 48. 299. Avoiding fee-for-service listings without disclosure to purchasers, however, might raise issues concerning the fulfillment of fiduciary tasks. 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, available at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Revised Code and settlements performed by a licensee pursuant to the permission shall not produce or suggest a company relationship between that licensee and the client of that exclusive broker."). 303. VA CODE 54. 1-2132( C) (effective July 1, 2007) (" A licensee engaged by a seller in a realty deal may, unless prohibited by law or the brokerage relationship, provide help 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 involvement in the [MLS] is high, the service itself is economically successful and competition from other listing services is doing not have, rules which welcome 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 various personal lawsuits involving declared MLS-related restraints is beyond the scope of this Report.
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For a discussion of special company 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; Info and Property Services, 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., Info and Real Estate Solutions, LLC, FTC File No (how much do real estate agents make per sale). 061-0087, at 6 (2006) (analysis to aid public comment), offered at http://www.
pdf. 314. See, e. g., Austin Bd. of Realtors, FTC Dkt. No. C-4167, at 17 (2006) (complaint), 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), readily available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Real Estate Brokers of Rockland, Ltd., Dkt.