Free press releases distribution network?

Agency / Source: TW Shortt & Assoc., Fla Real Estate School

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Kentucky Real Estate Commission Slammed by Consumer Group - A report by the Consumer Federation Of America labels the Kentucky Real Estate Commission (KREC) as
Kentucky Real Estate Commission Slammed by Consumer Group

 

PRZOOM - /newswire/ - Elizabethtown, KY, United States, 2006/07/28 - A report by the Consumer Federation Of America labels the Kentucky Real Estate Commission (KREC) as "amongst the most aggressive at promoting the interests of the real estate industry over that of consumers" - Kred.Ky.Gov.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

At issue is the dominance of the state real estate regulatory body by active brokers and lawyers and their close ties to the industry that they are chartered to oversee.

There seems to be at least three major areas of contention that caused consumer groups, the Department of Justice, Antitrust Division, and the Federal Trade Commission to focus attention on state real estate regulatory bodies. They are:

• Minimum Service Laws and Rules imposed by the regulatory body on brokers that virtually eliminates the possibility of purchasing real estate services on an a la carte basis that has the potential to save sellers thousands of dollars on the sale of their house.

• Promotion by the real estate regulatory body of a convoluted form of representation called ""duel agency and designated agency"" that makes it legal to represent two opposing parties to the same transaction.

• The imposition of ""anti-rebate"" laws that make it virtually impossible for brokers to compete with each other for business based on the price of their service.

The Kentucky Real Estate Commission suffered a set-back in the 2006 state legislature when it's proposed minimum service law was struck down under pressure from antitrust official, flat fee brokers and consumer groups. The commission then circumvented the lawmakers and exercised its power to create a minimum service ""rule"" that has the same effect as the originally proposed law but did not require legislative approval. Kentucky's current minimum service rule has reportedly been a factor in the demise of some Kentucky limited service brokerage operations.

""Duel Agency and designated agency"" are promoted by the Kentucky Real Estate Commission and serve the industry well to the detriment of consumers, according to some observers. These convoluted deviations from common agency law make it possible for brokers to shield the fact that they actually represent neither party in the transaction while collecting a larger commission and remaining in compliance with Kentucky real estate license law.

Up until 2005, The Kentucky Real Estate Commission enforced an ""anti-rebate"" law that made it impossible for brokers to compete for customers based on the price of their service. Served with a federal lawsuit objecting to this provision as an antitrust violation and charging the commissioners with conspiracy, the Feds and the Kentucky Real Estate Commission reached a settlement agreement that forced the Commission to stop enforcing the rebate law.

The Kentucky Real estate commission was also criticized recently for running radio commercials (krec.ky.gov) that posed as ""public service announcements"" claiming that Kentucky licensees are ""trained real estate negotiators"" and by not working with one of them a seller could expect to lose up to 3% on their home sale. Pre-licensing training for sales agents and brokers in Kentucky actually offers no training in real estate negotiating.

Currently the Kentucky Real Estate Commission operates independent of oversight by any branch of state government. The panel is made up of active real estate brokers and a lawyer. They generate their own taxes (fees from licensee) and spend it in any way they see fit. Expenses like $20,000 for radio commercials require the approval of no superior agency or person. Some are calling on the state legislature to review this arrangement and an effort is under way to legislate a reorganization of the Kentucky Real Estate Commission to make it more responsive.

These and other industry friendly real estate laws/rules either created or proposed by the Kentucky Real Estate Commission (KREC) make them seem more like an industry tool than a consumer protection arm of state government in the view of many consumers.

Many of the rules, policies and laws on the books of real estate regulatory bodies nationwide are adverse to consumers and are forcing them to pay too much for real estate services according to reports. Real estate commission cover for the industry is not unique to Kentucky. The majority of real estate regulatory bodies nationwide need closer scrutiny to detect the abuse of power when and were it exist.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: TW Shortt & Assoc., Fla Real Estate School

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate/Property Management articles,
CATCH Visitors via Your Competitors Announcements!


Kentucky Real Estate Commission Slammed by Consumer Group

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Terry Shortt - TWShortt.com 
270-769-2468 Broker[.]FlatFeeDirect.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any TW Shortt & Assoc., Fla Real Estate School securities in any jurisdiction including any other companies listed or named in this release.

Real Estate/Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From TW Shortt & Assoc., Fla Real Estate School / Company Profile


Read Real Estate/Property Management Most Recent Related Press Releases:

Ede Costa Team Joins Berkshire Hathaway HomeServices California Properties
Berkshire Hathaway HomeServices California Properties Opens New Office in Brea
Berkshire Hathaway HomeServices Nevada Properties Opens New Southwest Las Vegas Office
Homenova, Inc. Launches A Website for Private Home Sales
Westcorp CFO Named Top Tech Exec in Nevada
Berkshire Hathaway HomeServices California Properties Names Larry Tait Yorba Linda Branch Manager
Americana Holdings Forms Alliance with ListHub Global in Three States
Manhattan Boutique Real Estate Joins South China’s Leading Luxury Property Show
Approved Mortgage Reviewed by Global Research Firm Great Place To Work®
SoloPro Secures $1.1M in First Round Funding

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  BizJobs.com

Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today