278. See HUD REPORT, supra note 201. 279. One panelist who is a fee-for-service broker describes this as his "flat-fee plus" option, where, in addition to listing the home in the MLS and putting it on numerous sites, he offers the seller assistance once the purchaser is found. In addition to the flat charge rate of $495 paid at time of listing, the "flat-fee plus" option needs the seller also to pay $1,500 at closing.
at 68 (explaining the alternative). 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 guideline that says: "When I walk into McDonald's and order a hamburger, I'm told that I likewise have to buy some french fries, due to the fact that the state has actually chosen that it may be deceptive 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.
Similarly, at a recent Congressional hearing on competitors in the genuine estate brokerage market, Agent Baker analogized minimum-service laws and policies to needing a customer to have his or her entire house painted Helpful site when she or he only desired the deck painted. See Hearing, supra note 1, at 30 (declaration of Rep.
Baker, member House 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 completes versus traditional "agents out there that deal little or no value to the deal."). 282. See Lewis, Tr. at 179 (" While some consumers may be sophisticated sufficient to represent themselves in some or all of the steps of a deal, a lot of are not.").
22, 2005, readily available at http://realtytimes. com/rtcpages/20050422 _ dojstepsin. htm (quoting Texas Association of Realtors declaring that minimum-service guidelines would prevent customer confusion); Peter G. Baker, Employing a Broker: Should You Anticipate Less?, REALTY TIMES, Apr. 11, 2006, readily available at http://realtytimes. com/rtcpages/20060411 _ hirebroker. htm (" [Federal government agencies] argue that with disclosures and waivers customers need to be able to decline any brokerage service or responsibility.
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We do not, for instance, enable consumers to save money by employing doctors who cut expenses by not decontaminating 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 since they cultivate rate negotiations before going into a representation agreement 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, participants from Colorado, North Dakota, Vermont, and Washington kept in mind that problems versus limited service brokers were very little or nonexistent. The survey is readily available at http://www.
htm. 288. Our review of fee-for-service broker sites reveals that customers appear to have ready access to costs that fee-for-service brokers charge for extra services beyond the MLS-only choice in advance of entering into a legal relationship. This finding weakens a necessary condition for the hold-up theory to be possible that customers only find out the prices for additional services after they have participated in an exclusive listing contract.
Ohlhausen, Minimum-Service Requirements in Property Brokerage: A Reply to Darryl Anderson, ANTITRUST SOURCE, Mar. 2006 (going over various theoretical and empirical reasons the hold-up theory does not appear to use to fee-for-service brokerage). 289. See Farmer, Tr - what percentage do real estate agents get. 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 have the ability to select their service models in addition to the provider of those services, whether they be limited service or full-service"). 291. Sambrotto, Tr. what is an encumbrance in real estate. at 116. 292. Farmer, Tr. at 72. 293. PATRICK WOODALL & STEPHEN BROBECK, CUSTOMER FEDERATION OF AMERICA, HOW THE PROPERTY CARTEL DAMAGES 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., Realty Agency Reform: Satisfying the Needs of Buyers, Sellers, and Brokers, 25 REAL ESTATE 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, nevertheless, may raise concerns worrying the satisfaction of fiduciary tasks. 300. See supra Chapter I.B. 1. 301. Blanche Evans, Where Realty Associations Stand On MLS-Entry-Only Listings, REALTY TIMES, Feb. 24, 2005, readily available at http://realtytimes. com/rtapages/20050224 _ mlsentryonly. htm. 302. OHIO CODE 4735.
18 of the Modified Code and negotiations performed by a licensee pursuant to the permission will not create or suggest an agency relationship between that licensee and the customer of that unique broker."). 303. VA CODE 54. 1-2132( C) (reliable July 1, 2007) (" A licensee engaged exit timeshare now reviews by a seller in a property transaction may, unless prohibited by law or the brokerage relationship, offer support to a purchaser or possible buyer 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. Realty Multi-List, 629 F. 2d 1351, 1374 (5th Cir. 1980) (" [W] hen broker involvement in the [MLS] is high, the service itself is economically effective and competition from other listing services is doing not have, guidelines which welcome the unjustified exclusion of any broker must be found 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 numerous private litigation including alleged MLS-related restraints is beyond the scope of this Report.
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For a conversation of unique company contracts and other kinds of listing agreements, 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 Realty 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., Details and Real Estate Services, LLC, FTC File No (what percentage do real estate agents get). 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), readily available at https://a.8b.com/ 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), readily available at http://www. ftc.gov/ os/adjpro/d9321/ 070323decisionorder. pdf. 317. See, e. g., United Property Brokers of Rockland, Ltd., Dkt.