tag:blogger.com,1999:blog-37842825.post4920183136947312818..comments2022-11-10T08:45:06.134-06:00Comments on REAL ESTATE, REAL COMPETITION & THE LAW: Tennessee governor signs anti-rebate bill into lawMICHAEL H. ERDMANhttp://www.blogger.com/profile/01496568728819068927noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-37842825.post-15316912951637140702007-11-20T11:40:00.000-06:002007-11-20T11:40:00.000-06:00The Tennessee Real Estate Commission's (TREC) meet...The Tennessee Real Estate Commission's (TREC) meetings are public record. Meeting minutes and video are posted to the Commission's website regularly. This provides a glimpse into the politics involved with the intriduction of the anti-rebate bill.<BR/><BR/>A review of the public record would likely reveal that the Commission is tight with the Tennessee Association of Realtors (TAR) government liason and lobbyist. TREC was very familiar with the previous US DOJ action against the Kentucky Real Estate Commission, and had received direct warnings from the DOJ concerning their anti-rebate rule.<BR/><BR/>Due to the state action immunity docterine, the state itself would be immune from a DOJ suit whereas the Commission would have liabililty for an anti-competitive rule. Aware of the state action immunity docterine, TREC voted to go forward with the deletion of the rule. The timeframe for the rule changes was quite lenghty. To pacify the DOJ, TREC adopted a policy to not enforce the rule until the actual rule changes could occur. <BR/><BR/>During that legislative session a caption bill was introduced that would later include this anti-rebate language. It was TAR's lobbyist who spoke on behalf of the bill sponsor when discussed in commitee. <BR/><BR/>A letter from the DOJ explained the anti-competitive impact of this bill to Tennessee Speaker of the House, Jimmie Naife. That letter was ignored. <BR/><BR/>Everyone in state politics involved with this bill was aware of its anti-competitive implications. The state's primary concern was for the dollars and votes generated by the real estate lobby.Anonymousnoreply@blogger.com