Regulatory (Brokers)

We represent innovative brokers and service providers across the country in the real estate and mortgage industries, advising them on regulatory and other legal matters which affect their operations including:

  • State real estate broker laws and regulations relating to licensure, minimum level of service, rebates, advertising, physical in-state offices, attending closings, referral fees, etc.
  • State mortgage broker, mortgage banker, mortgage loan originator, loan broker and related commercial and residential licensing statutes and regulations relating to licensure, referral fees, etc.
  • Real Estate Settlement Procedures Act (RESPA)
  • Inquiries, investigations and administrative proceedings conducted by state real estate regulators
  • Antitrust law
  • Realtor association and multiple listing service rules and complaints relating to property listings, ethics standards, homeseller yard signage, business names and URLs, etc.
  • Website functionality, content and terms of use
  • Customer agreements and marketing materials
  • Topical proceedings pending before state and federal courts and state regulators

Some of our notable real estate industry experience includes:

  • Obtained favorable results for real estate listings websites in connection with regulatory inquiries by state real estate commissions.
  • Obtained favorable result for out of state brokerage making seller referrals to, and receiving referral fees from, in-state brokerages in connection with regulatory action by state real estate commission.
  • Obtained favorable results for companies that share homesellers’ property information with real estate websites in connection with regulatory inquiries by state real estate commissions.
  • Obtained favorable result for broker in connection with demand by Realtor association to change business name and URL
  • Negotiated surrender of client’s real estate brokerage license with state real estate commission – no fines imposed.
  • Negotiated surrender of infringing business name by client’s competing brokerage.
  • Since 2005, generally advise a group of 90+ flat-fee brokers throughout the U.S. on antitrust law, state license laws and regulations, Realtor board and multiple listing service rules, and related litigation
  • Created Real Estate, Real Competition & the Law blog in 2006, nominated the following year as a Finalist for Inman News’ “Most Innovative Blog.”
  • Advised broker in connection with Alaska Real Estate Commission requirement that licensee maintain in-state office
  • Advised listings website on potential insurance coverage for lawsuit filed by multiple listing service
  • Advised listings website in connection with enforcement action by Missouri Real Estate Commission
  • Responded to inquiries from 60 Minutes, Money Magazine, Forbes, Inman News and several hedge funds pertaining to broker commissions, new market entrants, anticompetitive practices, etc.
  • Invited in 2006 by pioneering Texas broker to accompany him when testifying before U.S. House Subcommittee on Housing and Community Opportunity on competition and technology in real estate industry
  • Attended 2005 Federal Trade Commission/Department of Justice workshop on competition policy and the real estate industry
  • Advised interested parties filing public comments in USA v. National Association of Realtors, amicus brief in FTC v. Realcomp
  • Served as Volunteer Counsel to American Real Estate Brokers Alliance, American Homeowners Grassroots Alliance

Contact us to schedule a free initial consultation.