At a local real estate association meeting, two competing brokers discuss how they each independently set their commission rates. One broker mentions a 5% rate and the other charges 6%. Neither agrees to match the other's rate. Has an antitrust violation occurred?
Correct Answer
C) No, because each broker independently sets their own commission rate
Antitrust law prohibits agreements among competitors to fix prices. Simply being aware of a competitor's rate without agreeing to coordinate prices is not a violation. Each broker may independently set their own rates.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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