BrokerageIndustry News

DOJ adds states to ‘minimum-service’ list

Antitrust site details rebate bans, service mandates

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The U.S. Department of Justice has updated the Competition and Real Estate Web site maintained by its Antitrust Division, adding several states and Washington, D.C., to its list of places that require brokers to perform a specific set of services. States that have imposed so-called "minimum service laws" mandating services in real estate transactions limit consumers' ability to choose which services they want and do not want to receive when working with real estate professionals, federal officials have charged. Industry participants -- such laws and regulations are typically backed by Realtor trade groups -- have argued such measures are necessary to ensure that consumers receive an adequate level of service in real estate transactions and to prevent consumer confusion about where to turn for services if they are working with a broker that provides few services. States that DOJ officials added to the Web site list include: Kansas, Maine, Oregon, South Dakota, Washi...