“Minimum Service” laws diminish consumer choice!

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

Traditional brokers face increasing competition from fee-for-service brokers who charge only for those services the consumer actually buys. Consumers with the option of choosing a fee-for-service broker can save thousands of dollars by purchasing only those services they need.

A number of states have enacted laws that require consumers to purchase brokerage services they may not want, with no option to waive the extra items. These so-called “minimum service” laws diminish consumer choice and raise the cost of selling a home. Click on the link below to learn how your state works.

http://www.brokerlessmls.com/

http://www.limitedservicemls.com/

cyberspacelawyer · **Joined:** Thu Dec 11, 2008 10:08 am **Posts:** 1

Search Association of Realtors by State

See http://www.brokerlessmls.com/index.php? ... Itemid=110

See http://www.abchomeselling.com/index.php ... &Itemid=74

flatfeemls · **Joined:** Thu Dec 11, 2008 12:20 pm **Posts:** 4

Barriers to a more competitive market: Learn about your state.

http://www.usdoj.gov/atr/public/real_es ... es_map.htm

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

REALTORS® are real estate professionals who have chosen to join the National Association and abide by its strict Code of Ethics. What does this mean to you? It means that any REALTOR® with whom you work has voluntarily agreed to abide by a Code of Ethics, based on professionalism and protection of the public. The Code is your assurance of dealing with a professional who has your best interests in mind. Below, we have provided you with a link to the Code of Ethics.

www.realtor.org/mempolweb.nsf/214c1520b ... 202008.pdf

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

Real estate brokers who charge a one time fee (or flat fee) for only those services actually purchased by the consumer are referred to as fee-for-service (limited service) brokers. State mandated “minimum service” laws dictate to what extent the full service can be stripped into individual components. Consumers who choose this option can realize savings of up to thousands of dollars. A number of states have enacted laws that require consumers to purchase brokerage services they may not need or want, with no option to waive the extra items. These so-called “minimum service” laws diminish consumer choice and raise the cost of selling a home.

See also Flat Fee MLS www.limitedservicemls.com/?page_id=167

See also Consumers Save Thousands www.limitedservicemls.com/?p=71

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

The downside to using a fee for service (or flat fee MLS listing service) business model is that the seller must represent himself in the sale of his property. It is for this reason that Flat fee Listings may not be suitable for everyone. In any event, the seller is advised to seek competent, qualified legal advice when attempting to sell real property using a flat fee MLS listing service.

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

On May 27, 2008, NAR and the U.S. Department of Justice reached a favorable settlement, concluding a two-year DOJ investigation (followed by two and a half years of litigation) regarding NAR’s multiple listing policy as it pertained to the display of listings from the MLS on brokers’ virtual office Web sites, or VOWs.

The proposed terms are a win for NAR, Realtors, and consumers, and confirm that MLS members must be actively engaged in real estate brokerage by actually helping people buy or sell homes.

This will ensure that MLSs are used for what they were originally intended to do — to help real estate professionals find buyers for people who want to sell their homes. NAR has also agreed to adopt a revised Virtual Office Web site policy that NAR will request MLSs to adopt.

Final Judgment Approved - DOJ-NAR http://www.realtor.org/wps/wcm/connect/ ... aa79c7c89f

flatfeebroker · **Joined:** Wed Dec 10, 2008 9:35 am **Posts:** 75

List For Sale By Owner on Realtor.com for a Flat Fee. Add A Flat Fee MLS Listing In Your Local MLS FSBO - Flat Fee MLS Brokers Network! - Flat Fee MLS Forum! - Lowest Realtor Commission Rates! - Exclusive Agency Listing Agreements! - GET STARTED!!

“Minimum Service” laws diminish consumer choice!

Who is online