|Limits choice of brokerage services|
|Allows brokers to offer rebates to consumers|
West Virginia law requires a real estate broker to “promptly deliver to his or her principal, every written offer received,” even if consumers do not want these services.
In response to a U.S. Department of Justice investigation, the West Virginia Real Estate Commission voted to repeal its administrative regulation that prohibited real estate brokers from paying rebates to customers. In May 2006, real estate brokers in West Virginia became free to offer consumer rebates.
Because of the West Virginia Real Estate Commission’s action, consumers in that state may now benefit from increased price competition in the form of consumer rebates.
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Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
May 4, 2006
Related documents on the Internet:
West Virginia Code §30-40-26 requiring a real estate broker to “promptly deliver to his or her principal, every written offer received,” even if consumers do not want these services