Recently our company joined another MLS and I was required to attend an MLS Orientation. Being in a class filled with brand new Realtors brought back memories of my start in real estate back in 1989 and also made me feel like a grizzled veteran. I struggled to resist the temptation to tell stories of how it was back when I started in real estate and the challenges to get established in the business.
The highlight of the day long orientation for me was a National Association of Realtors produced video on unfair competition. The video portrayed different scenes with a new agent doing his/her best to get listings and buyers and showed examples of agent statements that violate anti-trust laws. It shows the agent trying to get a listing, the seller telling him that they are considering using a discounter company, and the listing agent not knowing how to respond. He gets flustered and blurts out "but no one will show the listings of that broker" even though he knows that is not true. He tells the experience to an experienced agent back at the office and she explains how he just violated anti-trust laws. Later it shows an investigation by an unnamed government agency that looks at all the transactions and communications of everyone in the new agent''s office.
The video makes the anti-trust laws really clear. It vividly presents the cost, time, embarrassment, and potential criminal punishment for violating anti-trust laws in a way that is impossible to understand. The video was well-written and entertaining enough to hold everyone's attention.
I was glad to see that in addition to State and Federal governments, Realtor Associations are also educating agents about how important fair competition is. Not only that, the Realtor Code of Ethics is yet another rule that requires fair competition.
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