BrokerageIndustry News

State stalls plans to force real estate brokerage service levels

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The New Mexico Real Estate Commission has delayed consideration of changes to real estate regulations that would require all real estate brokers in the state to provide a minimum level of service to consumers, whether or not consumers want all of those services. Federal antitrust officials strongly oppose the proposed regulations. Officials in the Justice Department's Antitrust Division last week sent a letter to the New Mexico Real Estate Commission that urged the commission to reject the amendments, charging that the changes would restrict consumer choice and could raise the cost of real estate brokerage service. The commission, which met Nov. 3, and its legal counsel were not immediately prepared to respond to the Justice Department letter, said Wayne Ciddio, administrator for the commission. "We deferred until probably January or February." Justice Department officials also opposed another proposed amendment that would have classified a type of shared online property listings, kn...