IA 3.0 hours Avoiding Common Mistakes - Course Syllabus
3.0 Elective Hours
One of the key focus of this course is on Anti-Trust. The reasons for Anti-Trust laws are presented along with the economic consequences of a lack of competition in the marketplace. Penalties for violations of these laws are also discussed.
Anti-Trust Laws are designed to promote the policy and practice of COMPETITION. Some of the symptoms of a lack of competition are higher pricing and diminishing quality of a service or product.
Real estate licensees compete with one another to obtain listings for sale. At the same time, they often cooperate with one another to secure buyers for those listings. This dual situation of competition and cooperation, which is unique to the real estate industry, can present many opportunities for Anti-Trust violations.
The foundation for federal Anti-Trust laws is the Sherman Act of 189 The emphasis of this act is to prohibit the restraint of trade to allow for greater competition. There are three types of anti-trust violations which are most important in the real estate industry, the conspiracy to fix prices, imbalanced commission splits, and the conspiracy to boycott.