Comments:

From: chambears@yahoo.com [mailto:chambears@yahoo.com]
Sent: Thursday, October 20, 2005 1:26 PM
To: ATR-Real Estate Workshop
Subject: Competition and the Real Estate Workshop

See attached letter.

Overton Chambers

October 20, 2005

U.S. Dept. of Justice

realestateworkshop@usdoj.gov.

RE: "Competition Policy and the Real Estate Industry"

I understand there is to be a public workshop on Oct. 25, involving the Dept of Justice and the Federal Trade Commission and hopefully the general public and member of the real estate industry. The NAR has provided boilerplate information in suggested letters but I want to express my opinion from the local level.

I have been a licensed real estate agent since 1973. I have served on our local REALTOR Board as President twice. Back in the 1970's, there were no more than 30-40 licensees in our service area of Highlands and Cashiers, North Carolina. We now have over 400 agents in the same area. Now if you look at census figures for our locale, you will find that our combined year round population is no more than four to five thousand, if that. Yes, we are a seasonal resort area and yes in the summer our populations explodes.

Now that you have read the statistics for our area, take a look at the ratio of real estate agents to year round population. Do we have competition? You bet we do. The banks have competition too for the mortgage market. There are six banks that have offices in Highlands. Both industries, real estate and mortgage banking, are extremely competitive here.

So why are you spending taxpayers money to investigate the obvious?

Yours,

Overton Chambers