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, readily available at http://www. usdoj.gov/ atr/cases/f210100/ 210142. htm. 246. Because the approval decree was gone into, customers in Kentucky have benefited from maui timeshare brand-new decreased rate business designs. For example, one real estate business offers a 1% money back refund program for house buyers; another provides rebates worth up to $2,250 in the kind of HomeDepot or American Express present cards; and another offers to pay moving costs of approximately $1,500 to customers who buy particular residential or commercial properties.
For more on kinds of refunds offered in Kentucky and across the country, see, e. g., Mariwyn Evans, Law: Customer Rebates, REAL ESTATE AGENT MAGAZINE ONLINE (Jan. how to get a real estate license in ca. 1, 2006), offered at http://www. realtor.org/rmoprint. nsf/pages/lawjan06; Jessica Swesey, Internet stock brokerage leaders go into online realty, INMAN NEWS (Apr. 6, 2006), available at http://www. inman.com/inmannews. aspx?ID= 50907.
Kentucky Complaint at 3. 248. Id. at 3. 249. Id. A couple of brokers surveyed supported removing the refund ban, recognizing some of the procompetitive advantages that repeal of the restriction would cultivate. One broker observed: "Rebates will increase competitors and provide customers more choices in service." Id. at 3. 250.
17, 2005), readily available at http://www. usdoj.gov/ atr/public/press _ releases/2005/210637. htm; DOJ, West Virginia Realty Commission Allows Realty Brokers To Deal Refunds And Other Discounts (May 4, 2006), available at http://www. usdoj.gov/ atr/public/press _ releases/2006/215961. htm. 251. In response to DOJ's examination, the Tennessee Property Commission voted to suspend enforcement of its refund restriction on July 13, 2006, and subsequently voted to reverse the offending policy.
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9-10, 2006) (rescinding rule). Pursuant to the state's administrative procedures, the Tennessee Realty Commission arranged a public hearing concerning the rebate restriction's final repeal for May 2007. See Tenn. Admin. Reg. vol. 33, no. 3( Mar. 2007), Notice of Rulemaking, available at http://www. tn.gov/ sos/rules _ hearingnotices/2007/1260/ 1260. 20070228.02-37-07. notice.pdf (last updated 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 have a positive influence on customer welfare, and sees no compelling economic reasoning for not enabling rebates considering that they are a kind of rate competitors that ought to enhance effectiveness by putting pressure on brokerages to provide much better services at lower rates.
259 - how to take real estate photos. An exclusive brokerage agreement is specified as "a composed brokerage agreement which provides that the broker has the sole right, through the broker or through one or more associated licensees, to serve as the unique limited agent, agent, or transaction broker of the customer or consumer that meets the requirements of section 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 bill, signed into law on March 22, 2007, ends up being effective July 1, 2007. On its face, the law is ambiguous as to whether it needs brokers really to carry out the service of receiving and presenting offers and counteroffers or simply requires them to make themselves "available" to their client to do so.
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263. 225 IL. COMP. STATISTICS. 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. Numerous states, including Delaware, Florida, Ohio, Oklahoma, Tennessee, and Wisconsin, have less limiting laws that allow the client to decide whether she or he desires the listing broker to perform such services.
CODE tit. 24 2973, FLA. STAT. 475. 278, OHIO CODE 4735. 621, OKLA. STAT. tit (how to take real estate photos). 59Â 858-353, TENN. CODE tit. 62-13-403, WI. CODE 452. 133. Virginia also has a less restrictive law that requires the broker who is supplying limited 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, readily available at http://www. legislature.mi. gov/documents/2005 -2006/ billengrossed/House/pdf/ 2005-HEBH-4849. pdf. 271. Mississippi S.B. 2782, 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 Real Estate Rules, INMAN NEWS (July 17, 2006), 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 costs to enable customers to waive the minimum- service requirements established by the Nevada Property Commission, all of which becomes part of a bundle recommended by a minimum-service job force the Commission developed.
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See Letter from DOJ to Oklahoma Representatives and Senators (Apr. 8, 2005), offered at http://www. usdoj.gov/ atr/public/comments/ 209203. htm; Letter from FTC and DOJ to Michigan State Sen. Alan Sanborn (Oct (how to get real estate license in ga). 18, 2005), available at http://www. ftc.gov/ os/2005/10/ 051020commmihousebill4849. pdf; Letter from the FTC and DOJ to Governor Matt Blunt (May 23, 2005), offered at http://www.
htm; Letter from the FTC and DOJ to Alabama Senate (May 12, 2005), offered 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), 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 packages where, Visit this website for a flat cost, the fee-for-service broker https://diigo.com/0kh8pp agrees to note the seller's house on the MLS by making a unilateral offer of settlement and cooperation to all of the other brokers within the MLS. The seller then assumes duty for future tasks associated with the sale of his or her home.
g., Your Igloo Property, http://www. yourigloo.com/ (last visited Apr. 16, 2007). Ought to another broker in the MLS procure the buyer that ultimately buys the seller's house, the charge- for-service broker is usually obligated under MLS guidelines to pay the cooperative compensation noted on the MLS to that broker. See supra Chapter I.A. 3.
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The capability to buy private brokerage services, without purchasing the complete package offered by complete- service brokers, is increasingly important to customers. Hahn, for example, suggested that there might be a transition towards "a brand-new age" in the industry in which realty companies will establish and use a range of various service models.
He expected that some companies would concentrate on specific parts of realty deals permitting consumers to select what fits their requirements. Id. Hahn observed that such specialization and dividing of realty services into smaller sized parts might lead to "significant gains for customers." Id. 277. Press accounts suggest that fee-for-service brokers have actually raised their prices or left the market altogether in response to minimum-service laws.
1, INMAN NEWS (Oct. 12, 2005), offered at http://www. inman.com/inmannews. aspx?ID= 48325; see likewise http://www. texasdiscountrealty.com/laws - how to get started in real estate. htm (website of Texas Discount rate Realty explaining that "due to the fact that of the included duties forced on to you, the seller and us the broker, by [the Texas minimum-service law], we are required, as many brokers to adjust our costs"); Tracy Donhardt, New Law Provides Realtors and Edge, INDIANAPOLIS SERVICE JOURNAL (July 10, 2006), readily available at http://indybiznow.