Minimum service legislation shot down
Hooray for Kentucky! Consumers just narrowly missed being subjected to a new law that would have all but eliminated "a la carte" real estate brokerage services in the state when Senate Bill 43 was amended at the last minute.
As has happened in several states around the country, old guard real estate forces in KY have, through their virtual stranglehold on the real estate regulatory body in that state, pushed for legislation aimed at protecting the traditional real estate commission structure. Luckily for home sellers in Kentucky, the U.S. Department of Justice and Federal Trade Commission have been vigilant in their opposition to proposed laws that would mandate that consumers purchase a bundle of real estate services.
Of course, this battle isn’t over and is being replayed in state after state as real estate commissions face downward pressure from new, low-cost alternative business models.
See Also
- Kentucky shoots down real estate minimum-service proposal
State commission plans to form study group to consider other options - DOJ Sues Kentucky Real Estate Commission
Over Consumer Rebate Regulations
