<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>518795-00107</TD> </TR> <TR> <TD><b>Received Date:</b></TD> <TD>10/20/2005 6:32:03 PM</TD> </TR> <TR> <TD><b>Organization:</b></TD> <TD></TD> </TR> <TR> <TD><b>Commenter:</b></TD> <TD>Realtor, </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 colspan='2'>No Attachments</td> </TR> </TABLE> <hr/> <b>Comments:</b><br/><br/> Real Estate is the most viciously competitive occupation in the US today. Realtors, brokerages, consumers are all fighting for the same dollar. Realtors must protect themselves from litigious buyers. Large brokerages wield their power aimed at the agent's commission dollar and their market share. 3% of the realtors make 97% of the income fostering distrust, paranoia, fear and greed amongst all agents. Why are people realtors? It takes very little formal education. It arouses and excites, every American s entreprenurial dream. Money rewards are based on effort. What do realtors really do? They sell real estate through listings. Listings are owned by brokerages. Realtors can sell all listings, but they are not allowed to advertise any listings but their own. These listings change constantly. The market conditions change constantly. Laws and local customs change continually. Realtors are expected to know local, regional and national economic markets, to know all legal aspects of real estate, to know city, county, state and national ordinances that govern real estate, to know all real estate. Realtors are expected to convince people to buy or sell real estate. They are expected to create a team of lenders, inspectors, banks, lawyers, services, etc., to take a transaction to completion. They are expected to generate listings and clients. They are expected to act ethically. They are expected to market themselves. Realtor sales people pay for the privilege of selling listings, and pay brokerages for the privilege of working for them. Realtors pay for professional insurance, technology, transportation, marketing and advertising, and a  desk fee to the Brokerage. Realtors work for Brokerages but are legally employees. They must pay for their own health, vacation, dental and retirement benefits themselves. Realtors are small businesses without automony. Brokerages, in turn, dictate the commission at which a realtor can take a listing, dictate the commission percentage paid to the brokerage by the agent, how the agent represents themselves and brokerage services. Brokerages demand participation in their company fundraisers, in house services and products, brokerage goals and level of performance. Brokerages charge realtors for these services. Brokerages show favoritism and  hire and fire at will. Brokerages act like employers, but show no concern for agent welfare. Realtors get a commission based on sales volume. They have little protection from their Brokerage, from other realtors or from government regulation nor help in disputes with such. Making listings more accessible to the public weakens the profession and agents ability to survive. All Brokerages should be able to sell all listings. All brokerages should guarantee minimal services to clients at a standard commission and a minimum wage plus commission to all agents. All agents should be able to advertise all listings. Companies such as Mortgage brokers, banks, etc., have a conflict of interest and should not be able to directly profit by or advertise buying and selling real estate. The public should be able to access all listings for informational purposes only. All real estate sales must go through state licensed agents. EG, If an individual wants his teeth cleaned he/she must go through the respective licensed professional and pay a fee for that service. Real Estate sales people only get paid when a sales transaction is complete. They must endure the economic climate, the public image of the industry, the clients personal stresses, and abusive treatment by others. It is time to help and protect the realtor as a bonafide skilled professional in today s society. </body> </HTML>