WICHITA, Kan. (AP) — The Justice Department’s Antitrust Division says a proposed Kansas rule barring real estate brokers from offering gift cards would reduce competition and cause “significant harm” to the home buyers.
The federal government doesn’t often weigh in on Kansas real estate regulations and its letter comes as the Kansas Real Estate Commission considers public comments.
Wisner says Monday’s public hearing on it lasted less than an hour during which commissioners heard from speakers “various tones of opposition.”
Kansas law prohibits real estate brokers from offering “rebates” on part of a broker’s commission. The Justice Department says Kansas brokers are now able to compete by offering home buyers gift cards redeemable at retailers such as home improvement or furniture stores.
The commission will take up the issue at its Aug. 21 meeting.