In the past year I have been contacted by the United States Department of Justice (DOJ) and United States Federal Trade Commission (FTC). It seems they want to make sure that as the Flat Fee MLS Listing evolution of the MLS takes off and becomes popular, that there is no backlash from traditional brokers. I have often worried that as Flat Fee Brokers become more successful that traditional brokers who are losing business may be tempted to compete unfairly.
So needless to say, I am very encouraged that "the Feds" are interested in promoting competition in the real estate services. They have encouraged me to attend an event they are holding in Washington DC next week to discuss changes in the real estate industry. I feel quite honored and humbled that of all Flat Fee Brokers, I am one of the few they want to talk to.
Since this federal supervision of our industry has been big, big news in our industry, I think that the chances of unfair competition will go down considerably. The tiny handful of agents or brokers who may be tempted to do the wrong thing are much less likely to do so if they know that the FTC and DOJ are actively looking for unfair competition.
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