Industry News

DOJ, FTC issue new letter to protest Michigan real estate bills

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The U.S. Justice Department and Federal Trade Commission, in a Friday letter to Michigan state officials, restated opposition to legislation that would require real estate agents and brokers to perform certain services for clients when they enter into a formal service agreement with those clients. The letter, sent to Michigan state Lt. Gov. John D. Cherry and state Sen. Patricia L. Birkholz, R-Saugatuck Township, encourages the Senate to reject House Bill 4849, which could go up for a vote next week. The federal agencies also sent copies of the June 2 letter to Tom Martin, director of the Office of Policy and Legislative Affairs for the Michigan Department of Labor and Economic Growth; and to Michelle Rick, a lawyer for Michigan Attorney General Mike Cox. Earlier this week, a Senate committee approved the legislation in a 4-0 vote. Similar legislation, backed by state Realtor trade groups, has been proposed and approved in other states, too, in some cases despite federal objections. ...