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This field also includes selling expenses other than commissions, like closing costs and attorneys fees, so it is likely to overstate the actual commission rate. 2d 868, 870-71 (E.D. "332 Such experiences, however, were not reported by all of the nontraditional brokers who testified. This Section examines three types of restraints imposed by state laws and regulations that are likely to reduce competition and consumer choice in the real estate brokerage industry: anti-rebate laws and regulations; minimum-service requirements; and overly broad licensing requirements. See Farmer, Tr. 7, 2006 (describing secret real estate agent referral service operating in Maryland, Virginia, and the District of Columbia that offers outside of the settlement and thus off the books sellers a 1.5% rebate and buyers all of the commission received by the agent above 1.5%). cooperating broker spends many hours, even days, trying to locate the right property for the Buyer. To compete on price, they can offer lower commissions to home sellers and, where permitted, rebates to home buyers. Continuing education and specialty knowledge can help boost your salary and client base. Although a detailed exploration of all industry characteristics was beyond the scope of the 'Workshop, participants focused on a variety of characteristics, including broker concentration and entry into the industry. 260. 25. Charles Schneider, Executive Director, James C. Cooper, Deputy Director, Office of Policy Planning The following people testified at the Workshop: Cathy Whatley, real estate broker and Past President of NAR; Robert Hahn, economist and Executive Director, American Enterprise Institute-Brookings Joint Center for Regulatory Studies; Aaron Farmer, Owner of Texas Discount Realty; Thomas Kunz, President and Chief Executive Officer of Century 21 Real Estate LLC; Colby Sambrotto, Chief Operating Officer of ForSaleByOwner.com; Wayne Thorburn, Administrator, Texas Real Estate Commission and Immediate Past President of the Association of Real Estate License Law Officials; Steve DelBianco, Executive Director, NetChoice Coalition; Thomas Early, President, National Association of Exclusive Buyers' Brokers; Philip Henderson, Vice President, Lending Tree; Geoff Lewis, Senior Vice President and Chief Legal Officer, RE/MAX International, Inc; Alexander Perriello, President and Chief Executive Officer, Cendant Real Estate Franchise Group; Lawrence Yun, Managing Director of Quantitative Research, NAR; Chang-Tai Hsieh, Associate Professor of Economics, University of California. 164. 144. Promoting the election of pro-REALTOR candidates across the United States. Reppert, Public Comment 294, at 1. On the morning the lawsuit was filed, NAR announced a revised policy that contained a blanket opt-out under which the listings of brokers who withheld their listings from a VOW could appear on no brokers' website, except for NAR's website, Realtor.com. Thus, if fee-for-service brokers are forced to raise their prices in response to minimum-service requirements, consumers who choose full-service brokers are also likely to pay higher prices for real estate brokerage due to a reduction in the competitive constraint provided by fee-for-service brokers. See, e.g., United Real Estate Brokers of Rockland, Ltd., Dkt. It also addresses the role that the cooperative nature of real estate brokerage may play in shaping competition in the real estate brokerage industry.