<HTML> <HEAD> <title>WebForm1</title> <meta name="GENERATOR" content="Microsoft Visual Studio .NET 7.1"> <meta name="CODE_LANGUAGE" content="Visual Basic .NET 7.1"> <meta name="vs_defaultClientScript" content="JavaScript"> <meta name="vs_targetSchema" content="http://schemas.microsoft.com/intellisense/ie5"> <META http-equiv=Content-Type content='text/html; charset=UTF-8'> </HEAD> <body > <TABLE id="Table1" cellSpacing="1" cellPadding="1" width="100%" border="0"> <TR> <TD><b>Comment Number:</b></TD> <TD>518795-00079</TD> </TR> <TR> <TD><b>Received Date:</b></TD> <TD>10/20/2005 11:32:36 AM</TD> </TR> <TR> <TD><b>Organization:</b></TD> <TD></TD> </TR> <TR> <TD><b>Commenter:</b></TD> <TD>Burns, Terry</TD> </TR> <TR> <TD><b>State:</b></TD> <TD>VA</TD> </TR> <TR> <TD><b>Agency:</b></TD> <TD>Federal Trade Commission</TD> </TR> <TR> <TD><b>Rule:</b></TD> <TD>Competition Policy and the Real Estate Industry</TD> </TR> <TR> <TD><b>Docket ID:</b></TD> <TD>To Be Added</TD> </TR> <TR> <td colspan='2'>No Attachments</td> </TR> </TABLE> <hr/> <b>Comments:</b><br/><br/> To it May Concern: The following sums up my personal experience in working in the Real Estate industry since 1999. On an average listing appointment, I usually compete in this highly competitive market against 3- 5 other agents for the listing. I always provide a high level of service keeping my client s best interest in mind at all times, while taking most all of the direct financial costs/risk to market and promote the property to other agents and the public. I provide my clients with my expertise and knowledge to get their home sold and work with all the various individuals and firms to get my clients to settlement. I do not get paid until the property settles. If for whatever reason the property does not settle, my costs and time are not compensated or recovered. My time and financial expenses are always at risk. I tell my clients how I earn my commission and show them how much they will net; always based on a range of pricing their home. There is not a listing that I have not competed on commissions; and I always give my clients a performance guarantee that allows them to get out of the listing agreement with 24 hrs written notice for whatever reason, i.e.: their plans change, I have not met my obligations that I put in writing, etc. I concur that the real estate industry is a model of competition that works. In an economy in which large, national corporations -- such as Wal-Mart and Microsoft -- dominate the marketplace, real estate stands apart. We are an industry made up predominantly of small businesses and independent contractors who represent the entrepreneurial spirit this country was founded on. All of us serve localized markets where we compete for business every day. Fierce competition is fueled largely by the uniquely intense and personalized nature of the service we provide to our clients -- which, in turn, determines our future success through referrals and return business. Barriers to entry are low. If you are willing to take the time to learn the business in your local market, pass the state license examination and adhere to the REALTOR&reg; code of ethics, there is nothing to stand in the way of success in this industry. I had to learn the business and pass the state licensing examination, but it is my own work ethic, commitment to professional standards and dedication to client satisfaction that determine my success. Even through the economic downturns our country has experienced in the past few years, our industry has continued to provide opportunity -- something I would say is confirmed by the thousands of new agents that join our profession every year and the over 2 million Americans who are now licensed to provide professional real estate services in communities across the country. Nothing encourages a competitive business environment more than providing consumers with choice. In the residential real estate marketplace, consumers not only are able to choose from more than 76,000 brokerage firms and more than 1.2 million REALTORS®, but also from a variety of business models. </body> </HTML>