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2. Antitrust Division
Re: "Competition and the Real Estate Workshop" -- Comment, Project No.V050015
The real estate industry is a model of competition that works. In aneconomyin which large, national corporations -- such as Wal-Mart and Microsoft-- dominatethe marketplace, real estate stands apart. We are an industry made uppredominantly of small businesses and independent contractors whorepresent theentrepreneurial spirit this country was founded on.
All of us serve localized markets where we compete for business everyday.Fierce competition is fueled largely by the uniquely intense andpersonalizednature of the service we provide to our clients -- which, in turn,determinesour future success through referrals and return business.
Barriers to entry are low. If you are willing to take the time to learnthebusiness in your local market, pass the state license examination andadhere tothe REALTOR® code of ethics, there is nothing to stand in the way ofsuccess inthis industry. I had to learn the business and pass the state licensingexamination, but it is my own work ethic, commitment to professionalstandardsand dedication to client satisfaction that determine my success.
Even through the economic downturns our country has experienced in thepastfew years, our industry has continued to provide opportunity --something Iwould say is confirmed by the thousands of new agents that join ourprofessionevery year and the over 2 million Americans who are now licensed toprovideprofessional real estate services in communities across the country.
Nothing encourages a competitive business environment more thanprovidingconsumers with choice. In the residential real estate marketplace,consumersnot only are able to choose from more than 76,000 brokerage firms andmore than1.2 million REALTORS®, but also from a variety of business models.