In light of recent news articles highlighting the state of real estate commissions many members on this network have engaged in tangential discussions with their colleagues. Many of these discussions have gone into areas that the put participants at risk.
I have brought to you the consequences of talking commissions before. We've had it re-featured a few weeks ago. Since then I've had a few members disagree with me on the content of that post. I've even had some tell me that this is a conspiracy propagated by The National Association of Realtors, to keep prices high.
To clear things up a bit today I spoke with Deputy Assistant Director Of The FTC's Anticompetitive Practices Division, Patrick J. Roach.
Mr Roach stated it very clearly for me. Do not discuss prices with your competitors. Anything beyond that opens you up for an investigation for possible criminal conduct.
Mr Roach offered a second piece of advice. He said do not sit there quietly while such a (price) discussion is going on. Make a loud demonstration of stating that you will not be a part of this conversation and then leave. I'd like you to flag the post and tell us why you did so that it can get taken care of it as soon as possible.
Mr. Roach referenced the National Association of Realtors saying that they very wisely talk about not engaging in discussions & agreements about pricing.
I am encouraging you all to review NAR's Field Guide to Antitrust. And once again I am saying that you cannot discuss pricing with each other. Leave that for a talk with your clients and your office.
A reminder everyone The purpose of this is to protect the community. You may had these discussions off-line legally or not. But this is a new medium where your discussions are recorded and public. You may not be accustomed to this but what you say is permanent record here.