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Cash Back Commission Rebates - Home Buyer

Realtor Rebates Good For Consumers

To everyone in the housing market, be glad you live in Georgia Smile. Realtor Rebates are legal in our State, but consumers in other states aren't so fortunate. For example, between 11 and 16 states currently prohibit or limit commission rebates by realty brokers. However, The United States Department Of Justice (USDOJ) is fighting for Real Estate Consumers all across the country. Realtor Rebates are good for Consumers. Here is a recent ruling in the State Of Kentucky where consumers weren't able to receive rebates from their agents. Recently, the State of Kentucky was sued by the Federal Government on anti-trust grounds because of its state law prohibiting rebates. Kentucky and the U.S. Department of Justice (USDOJ) have now reached an agreement which allows agents in that state to offer rebates.

http://www.usdoj.gov/atr/public/press_releases/2005/210058.htm

In its suit, the Justice department said the Kentucky commission's ban "is a violation of the anti-trust laws that inflicts higher prices on Kentucky consumers." Federal anti-trust laws "protect consumers against restrictions on competition," said Pate, "even when they are adopted by state-created entities like the Kentucky Real Estate Commission."

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Georgia New Homes - Atlanta, GA said:

The USDOJ has set up a website to educate buyers about real estate realty rebates from agents.

http://www.usdoj.gov/atr/public/real_estate/rebates.htm

October 31, 2007 11:02 AM

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