BrokerageIndustry News

Anti-rebate rule killed in West Virginia

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The West Virginia Real Estate Commission, in response to a U.S. Department of Justice antitrust investigation, has issued a new rule that lifts a decades-old statewide ban on the offer of inducements and gifts by real estate licensees. Last summer, the Justice Department expressed opposition to the state's law banning inducements, and in September the commission "unanimously determined that it would no longer enforce the 'anti-inducement rule,'" according to a statement at the commission's Web site. In January 2006, the commission approved amended language for the rule, and the commission filed this "emergency rule" with the West Virginia Office of the Secretary of State Jan. 31. After receiving comments on the emergency rule, the real estate commission amended the rule March 15 and the amended rule became effective today, according to a Justice Department announcement.  The Justice Department has sought change to anti-rebate and anti-inducement real estate policies in other st...