Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
Antitrust Law Prohibitions 1. Allocation of customers or markets |
Agreement among brokers to divide their markets and refrain from competing for each other's business; division may take place on a geographic basis or on a certain price range of homes. |
|
|
2. Price Fixing |
Conspiracy among brokers to set prices for their services, rather than negotiate such fees. |
|
|
3. Boycotting |
two or more businesses conspire against other businesses to reduce competition. |
|
|
4. Tie-In Agreements |
agreements to sell one product only if the buyer purchases another product as well. |
|
|
5. People violating the Sherman Antitrust Act may be found guilty of a felony punishable by a maximum $100,000 fine for an individual and three years in prison. |
6. In a civil suit a broker found guilty of a violation of the Sherman Antitrust Act is liable for triple damages plus attorney's fees and court costs. |
|
|
Issues in Use of Technology Electronic contracting is governed by two federal laws: 1. The electronic signatures in Global and national commerce Act (E-Sign) |
E-Sign makes electronic contracts, signatures, and records relating to a transaction legally enforceable even if a state statute requires that the records be in writing. |
|
|
2. The Uniform Electronic Transactions Act (UETA) |
UETA establishes basic rules for creating legally enforceable electronic contracts. |
|
|
Federal Telemarketing Law |
1. Federal Telemarketing law, or the "Do Not Call" law, limits telephone sales calls. 2. Under this law people register with the Federal Trade Commission (FTC) or with their appropriate state agency and are placed on do-not-call lists. |
|
|
Internet Advertising 6. Internet Data Exchange (IDX) |
is a primary database used in the marketing of real estate a. IDX give members of the multiple listing service the opportunity to display all of the MLS listings on their own Web sites. |
