South Dakota Real Estate Continuing Education - SOUTH DAKOTA Approved School: RealEstateCE.com
4.0 hours Valuation, Marketing, and Listings Course Syllabus
4.0 Elective Hours.
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.
Anti-trust laws are designed to promote the policy and practice of competition. Some of the symptoms of a lack of competition and are higher pricing and diminished quality of a service or product. The 3 types of anti-trust violations which are most important in the real estate industry are conspiracy to fix prices, imbalanced commission splits, and conspiracy to boycott.
It is a violation of both State and Federal Anti-Trust Laws for there to be ANY agreement between competing real estate licensees to fix the prices that each will charge to a third party. A licensee needs to be especially careful of imbalanced exploitative splits when cooperating with other agents on listings. The conspiracy to boycott happens when a group of competitors agree to not to deal with another firm or when licensees collectively decide not to deal with a third party to eliminate competition.
Upon completion of this course, the real estate professional will have a better understanding of the basics of Anti-Trust Laws.