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REW Public Comment : Texas Discount Realty (Farmer, Aaron) 10/25/2005, REW-0402

Comment No.: REW-0402
Received: 10/25/2005
Organization: Texas Discount Realty
Commenter: Farmer, Aaron
State: TX
Attachments: None

Comments:

Slide 1

Aaron Farmer

Broker/ Owner
Texas Discount Realty
www.TexasDiscountRealty.com
512-585-9520
Aaron@TexasDiscountRealty.com
 


Slide 2

Member

  • National Association of Realtors
  • Texas Association of Realtors
  • Austin Board of Realtors & MLS
  • Houston Association of Realtors & MLS
  • San Antonio Board of Realtors & MLS
  • Arlington Board of Realtors & NTREIS MLS
  • Bryan/College Station Realtors & MLS
  • Waco Board of Realtors & MLS
  • New Braunfels Board of Realtors & MLS
  • Alice Board of Realtors
  • Tyler Board of Realtors

Slide 3

My Business

  • Founded in Summer of 2000, Austin, TX
  • Work primarily with sellers
  • Offer 3 different listing packages
  • Flat Fee: $595 - Limited Service Listing
  • Flat Fee Plus: $495 + $1500 at closing for full service assistance once a buyer surfaces
  • Full-Service Plan: 4% to 6% paid at close. Assistance from start of listing to the closing.
  • Rebates to buyers who do their own leg work.

Slide 4

Minimum Service Laws

  • Texas 1st state to pass one September 2002
  • First Shot Fired - Filing in Texas Register
  • Filed suit November 2002, granted TRO
  • TREC Repealed Rule
  • New Rule Proposed February 2005
  • DOJ & FTC write letter to TREC saying this new rule will harm consumer competition
  • April 2005 TAR has rule attached to a housekeeping bill 11 days before the end of the session.
  • Governor Perry $igns law. Went into effect Sept 1, 2005

Slide 5

Present

  • Who is behind these laws?
  • Arguments for the laws. Fiduciary Duties.
  • Last year 3,500 complaints against "Traditional Brokers" in Texas.
  • NONE against limited service brokers, EVER!
  • Competition?
  • Harassment and Discrimination!

Slide 6

Future

  • Minimum Service Laws - my prediction

Slide 7

Conclusion

  • Must stop the LIES and Discrimination! Not every consumer is the same.
  • Most Alternative Brokers are REALTORS too!

Aaron@TexasDiscountRealty.com

 

Updated January 8, 2024