October 19, 2005
U.S. Department of Justice
Reference: "Competition and the Real Estate Workshop" -Comment, Project No. V050015
The real estate industry is a model of competition that works. In an economy in which large, national corporations - such as Wal-Mart and Microsoft - dominate the marketplace, real estate stands apart. We are an industry made up predominantly of small businesses and independent contractors who represent the entrepreneurial spirit this country was founded on.
All of us serve localized markets where we compete for business every day. Fierce competition is fueled largely by the uniquely intense and personalized nature of the service we provide to our clients - which, in turn, determines our future success through referrals and return business.
Even through the economic downturns our country has experienced in the past few years, our industry has continued to provide opportunity - something I would say is confirmed by the thousands of new agents that join our profession every year and the over 2 million Americans who are now licensed to provide professional real estate services in communities across the country.
Nothing encourages a competitive business environment more than providing consumers with choice. In the residential real estate marketplace, consumers not only are able to choose from more than 76,000 brokerage firms and more than 1.2 million REALTORS ®, but also from a variety of business models.
Paul J. Wikle, CCIM
Each Office Is Independently Owned And Operated.