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Talking About Prices
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 ... more
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