Tennessee Ignores DOJ’s Warnings

Law360, New York (May 16, 2007, 12:00 AM EDT) -- The Tennessee legislature has rejected the advice of the U.S. Department of Justice, passing a bill that would ban brokers from giving rebates, gifts or prizes in real estate transactions.

Realtors, including the Tennessee Association of Realtors, have argued in favor of the bill, saying it would stop shady realtors from offering consumers incentives to enter into risky real estate transactions. The DOJ disagrees, however, arguing that the act would deny Tennesseans the opportunity to receive cash rebates from real estate brokers when buying or selling...
To view the full article, register now.