REW Public Comment : The Home Specialists Real Estate Company (Johnston, W. James) 10/21/2005, REW-0121

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Comment No.:REW-0121
Organization:The Home Specialists Real Estate Company
Commenter:Johnston, W. James


From: []
Sent: Friday, October 21, 2005 5:40 PM
To: ATR-Real Estate Workshop
Subject: Competitive nature of real estate

Hello! Please see the attached letter for my opinion on the competitive nature of real estate.

W. James "Jim" Johnston
ABR, CRB, CRS, GRI, SRES, REALTOR(R), Associate Broker
The Home Specialists Real Estate Company, Pocatello, Idaho
VOICE: (208)232-9041 or (208)241-9010

W. James Johnston, REALTOR
The Home Specialists Real Estate Company
150 N. Main, PO Box 10
Pocatello, ID 83204
(208) 234-0900

21 October 2005

To: Department of Justice

Subject: Competitive nature of real estate

I have been made aware that there are people who feel that the real estate business is not competitive. I have been selling real estate in Pocatello, Idaho for over 35 years. I can assure you that there is significant competition between the real estate brokers and agents in this community.

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.

Barriers to entry are low. If you are willing to take the time to learn the business in your local market, pass the state license examination and adhere to the REALTOR® code of ethics, there is nothing to stand in the way of success in this industry. I had to learn the business and pass the state licensing examination, but it is my own work ethic, commitment to professional standards and dedication to client satisfaction that determine my success.

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.

I sincerely hope that you will feel as I do, that there is competition in the real estate market between brokers and salesman that make it possible for the consumer to have very good service at competitive prices.

Respectfully submitted,

W. James Johnston

Updated June 25, 2015

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