Industry News

Realtors’ president meets with FTC

Minimum-service laws, banks in real estate on the agenda

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The National Association of Realtors' president met with Federal Trade Commission Chairman Deborah Platt Majoras to discuss controversial minimum-service real estate laws and other real estate issues, according to a report this week in an association publication. Realtor Magazine reported that Mansell met with Majoras "to update the agency on where (the association) stands on some key trade issues, including the growth in minimum service laws enacted by states." Steve Cook, a spokesman for the trade group, said Tuesday he did not have much additional information about the meeting, though he said it was held in Washington, D.C. The national association has not formally announced a position on whether it supports state laws -- backed by the state-level Realtor associations -- that require agents and brokers to perform a specific minimum set of services for consumers, for some or all real estate transactions. But antitrust officials at the U.S. Federal Trade Commission and Justice D...