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Comment No.: REW-0014
Received:

October 18, 2005

Organization: RE/MAX DFW Associates
Commenter: Kernan, Patrick
State: TX
Attachments: None


Comments:

From: PTKernan@Verizon.net [mailto:PTKernan@Verizon.net]
Sent: Tuesday, October 18, 2005 2:55 PM
To: ATR-Real Estate Workshop
Cc: FTCDOJworkshop@realtors.org
Subject: "Competition and the Real Estate Workshop" -- Comment, Project
No. V050015

To Whom It May Concern:

From where I sit the market for real estate services to assist buyers and sellers of residential real estate seems ridiculously competitive.

My wife and I are both agents and have a combined 22 years of real estate experience. We are associated with a company that has about 285 agents, and I estimate that a majority of the agents in our company do not actually make a living in this business.

They either go in deficit (owing our broker money for unpaid fees), or they scrimp by from month to month netting way less than $30,000 per year, or they are subsidized by a spouse or other family member who is an employee of another company.

Barriers to entry are extremely low, so there are one million Realtors in the U.S. and probably 25-50% again as many licensees out there!

Self employment (we all are self employed) deludes people into thinking they are making more than they are. Expenses, income taxes, and the self employment tax add up very quickly.

Please feel free to contact me for details.

Sincerely,

Patrick Kernan
RE/MAX DFW Associates
Coppell TX 75019
972 393 9638