Wednesday, May 19, 2010

DOJ Investigation of Hamptons Brokerages

Yesterday the New York Post reported on an inquiry being conducted by the U.S. Department of Justice's Antitrust Division involving Hamptons real estate brokerages.

Here's subsequent coverage on the New York Times' DealBook blog. 

1 comment:

  1. Brokers in the Hamptons want to be able to compete, not for the agent's fee, but for the MLS incentive to the buyer that in today's environment, goes automatically to the buyer's agent working with out a valid written agency agreement.
    If broker use the forms they have in their possession to establish a valid agency relationship, the one that explains how to dispose of the MLS incentive, this problem would not have a chance to occur.
    They are arguing about a chance to get a piece of the action, not the agent's fee. Remember that Agents claim that the buyer does not have to pay a fee to his agent, the seller's agent does, which is never the case.

    Realty Czar