<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>518795-00081</TD> </TR> <TR> <TD><b>Received Date:</b></TD> <TD>10/20/2005 11:57:03 AM</TD> </TR> <TR> <TD><b>Organization:</b></TD> <TD>Intero Real Estate Services</TD> </TR> <TR> <TD><b>Commenter:</b></TD> <TD>Connolly, Patrick</TD> </TR> <TR> <TD><b>State:</b></TD> <TD>CA</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><b>Attachments:</b></TD> <TD><a href='518795-00081.pdf'>518795-00081.pdf</a>&nbsp<a href='http://www.adobe.com/products/acrobat/readstep2.html' target = _blank >Download Adobe Reader</a><br></TD> </TR> </TABLE> <hr/> <b>Comments:</b><br/><br/> My experience is that I serve a niche market of contractors who develop and improve residential real estate. It is very competitive in that I must do a thorough analysis of the opportunities with financial justification. Even though I recommend one out of a hundred possible real estate properties, it is very competitive to purchase the property. We must bid against other interested parties to acquire the property. This insures that the Seller gets the most money for the property. When working with all Clients, every day there is a choice on the Realtors part whether to act in the best interests of his Client, whether a Buyer or seller, or act in the best interests of himself, the Realtor. If big companies and financial institutions get into our business, as in other industries, they will discourage competition and make decisions mainly in their own interests. Real Estate is one of the US s only remaining ethical businesses. We have no Enrons, or other crooked operations because they just would not be tolerated or stay in existence due to the rules, structure, and organizations presently in existence that regulate our activities. Yours truly, Patrick Connolly Intero Real Estate Services </body> </HTML>