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Kentucky |
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Allows choice of brokerage services |
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Allows brokers to offer rebates to consumers |
Through a settlement reached between the Kentucky Real Estate Commission and the U.S. Department of Justice in 2005, real estate brokers may now offer rebates and other inducements to consumers. The Commission suspended enforcement of its regulation banning rebates, and in February 2006 the Commission instituted an emergency regulation to comply with the terms of the settlement.
In January 2007, the Kentucky House of Representatives introduced House Bill 86 formally repealing the ban on rebates. The legislation is pending.
The Antitrust Division has also commented to the Kentucky state bar about the benefits that consumers realize when non-attorneys are allowed to compete with attorneys to provide real estate closing services.
Learn more about:
- Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
- Rebates: Rebates Make Buying a Home Less Expensive
Antitrust Division documents:
Press releases:
- Justice Department Reaches Settlement with Kentucky Real Estate Commission (07/13/2005)
- Justice Department Sues Kentucky Real Estate Commission for Limiting Competition Among Real Estate Brokers (03/31/2005)
- Justice Department Urges Kentucky Bar to Continue to Allow Non-Lawyer Real Estate Closings (06/11/1999)
- Justice Department Urges Kentucky Bar to Allow Non-Lawyers to Participate in Real Estate Closings (09/10/1997)
Case fillings:
Comment letters:
- Letter to the Kentucky Bar Association Re: Opinion KBA U-58 Prohibiting Real Estate Closings By Non-Attorneys (06/10/1999)
- Letter to the Kentucky Bar Association Re: Proposed Opinion Prohibiting Real Estate Closings By Non-Attorneys (09/10/1997)
Related documents on the Internet:
- Kentucky Real Estate Commission Emergency Regulations requiring disclosure but not prohibiting rebates
- Kentucky House Bill 86 recinding the prohibition on paying rebates
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