{"id":22874,"date":"2023-10-31T15:28:19","date_gmt":"2023-10-31T15:28:19","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22874"},"modified":"2023-10-31T15:28:20","modified_gmt":"2023-10-31T15:28:20","slug":"is-that-legal","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/is-that-legal\/","title":{"rendered":"Is That Legal?"},"content":{"rendered":"\n<p>Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let\u2019s see how much you know.<\/p>\n\n\n\n<p>Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let\u2019s see how much you know.<\/p>\n\n\n\n<p><strong>1. Federal and state antitrust laws are designed to:<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> Prevent companies from misleading the public in their advertising.<br \/><strong>B.<\/strong> Protect competition.<br \/><strong>C.<\/strong> Limit competition.<br \/><strong>D.<\/strong> Regulate trust funds.<\/p>\n\n\n\n<p><em>Answer: <strong>B. <\/strong>The nature of the real estate brokerage\u2014characterized by vigorous competition for listings and cooperation in sales\u2014makes real estate brokers particularly susceptible to antitrust challenges. Therefore, it\u2019s imperative to understand what actions might constitute a potential violation.<\/em><\/p>\n\n\n\n<p><strong>2. Under Section 1 of the federal Sherman Antitrust Act, there are two basic elements of any violation: There must be a (1) ____________ that (2) unreasonably restrains trade.<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> Contract, combination, or conspiracy<br \/><strong>B.<\/strong> Rumor, falsehood, or threat<br \/><strong>C.<\/strong> Rule, signage, or physical barrier<br \/><strong>D.<\/strong> Person, place, or thing<\/p>\n\n\n\n<p><em>Answer: <strong>A. <\/strong>The conspiracy element is satisfied when two or more persons or entities carry out a common scheme or plan. If that can be shown, the remaining issue is whether or not the effect was an unreasonable restraint of trade.<\/em><\/p>\n\n\n\n<p><strong>3. Courts apply one of two analytical standards to antitrust cases: the per se rule and _______.<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> The rule of threes<br \/><strong>B.<\/strong> The rule markets<br \/><strong>C.<\/strong> The rule of reason<br \/><strong>D.<\/strong> The rule of thumb<\/p>\n\n\n\n<p><em>Answer: <strong>C. <\/strong>The per se standard in restraint of trade cases is applied to practices deemed so inherently anticompetitive under Section 1 that their effects on trade are presumed to restrain trade. Under the rule of reason, the court weighs the pro-competitive and anticompetitive aspects of a practice. Conduct challenged as unlawful under this standard may escape condemnation if the pro-competitive benefits outweigh the anticompetitve implications.<\/em><\/p>\n\n\n\n<p><strong>4. Brokers are in violation of antitrust law if they<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> Join with other brokers to shut out a competitor.<br \/><strong>B.<\/strong> Fail to keep escrow money separate from personal money.<br \/><strong>C.<\/strong> Lie about a competitor publicly.<br \/><strong>D.<\/strong> Charge one seller a higher commission than another seller.<\/p>\n\n\n\n<p><em>Answer: <strong>A. <\/strong>Group boycotts, or concerted refusals to deal with another competitor or a supplier, and conspiracies to fix prices, such as real estate commission rates, are examples of unlawful per se restraints. (As for the other choices, state license law governs the proper use of escrow accounts; disparaging a fellow REALTOR\u00ae by using false or misleading language could result in an ethics complaint; and all commissions are negotiable!).<\/em><\/p>\n\n\n\n<p><strong>5. To avoid antitrust problems, your brokerage firm should<\/strong><\/p>\n\n\n\n<p><strong>A.<\/strong> Adopt and rigorously apply a written officewide antitrust compliance program.<br \/><strong>B.<\/strong> Review their antitrust compliance policy with every staff member and independent contractor.<br \/><strong>C.<\/strong> Instruct sales agents to report to the broker any suggestions by sales agents from other firms that could be interpreted as an invitation to fix commissions or boycott a competitor.<br \/><strong>D.<\/strong> Identify legal counsel to be consulted when antitrust issues arise.<\/p>\n\n\n\n<p><em>Answer: <strong>A. <\/strong>Answer: All of the above. An antitrust compliance policy is a business necessity since brokers are responsible for the conduct of their staff and salespeople. Source: Real Estate Brokerage Essentials, Fourth Edition<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">How Did You Do?<\/h2>\n\n\n\n<p><strong>Five correct answers.<\/strong> Maybe it\u2019s time to open your own brokerage.<\/p>\n\n\n\n<p><strong>Three to four.<\/strong> You get it, but keep your knowledge fresh with the Antitrust Compliance Guide for REALTORS\u00ae, a pocket guide from <a href=\"https:\/\/store.realtor\/antitrust-pocket-guide-for-realtors\/\">store.realtor(link is external)<\/a> (member price: $6.95).<\/p>\n\n\n\n<p><strong>Fewer than three.<\/strong> Break out the books\u2014specifically, <em>Real Estate Brokerage Essentials, Fourth Edition<\/em>, by NAR\u2019s legal team. The book provides clear explanations, sample documents, case law, and training materials on a range of legal matters.<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let\u2019s see how much you know. Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let\u2019s see how much you know. 1. Federal and state antitrust laws are designed to: A. Prevent companies from misleading the &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/is-that-legal\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-22874","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is That Legal? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/is-that-legal\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/is-that-legal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/is-that-legal\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Is That Legal?\",\"datePublished\":\"2023-10-31T15:28:19+00:00\",\"dateModified\":\"2023-10-31T15:28:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/is-that-legal\\\/\"},\"wordCount\":610,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/is-that-legal\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/is-that-legal\\\/\",\"name\":\"Is That Legal? 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.","sameAs":["http:\/\/www.anthonydidonato.net"],"url":"https:\/\/www.anthonydidonato.net\/wordpress\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/comments?post=22874"}],"version-history":[{"count":0,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22874\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=22874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=22874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=22874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}