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

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 1^st 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• TREC Repealed Rule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