Body of federal law prohibiting many anti-competitive business practices such as price fixing and market allocation.
Employment arrangement where a person is hired to perform certain acts but is not an employee. Real Estate agents are usually employed in this manner. Taxes are not withheld. (The broker may dictate what the agent does, but not actually how they do it.)
Fee or compensation for real estate services paid to Principal Broker.
Conspiracy by Brokers to set fees in a market place, thus eliminating competition. It is the conspiracy that violates anti-trust laws.
Person hired by and under the supervision of their employer. (Not an independent contractor. Employer withholds taxes and FICA from wages).
One who initiates and completes the series of events that cause a sale.
Conspiracy by two or more businesses to withhold patronage from a third in an effort to reduce competition. (i.e. Two brokerages conspire not to show the listings of a third brokerage because they think the third's fee structure is too low.)
Real Estate License Laws
State laws and regulations designed to protect the public by requiring minimum standards of practice and licensure of professionals in the real estate industry.