Question

A real estate broker agrees to manage a property for its owner, but only on the condition that when the owner decides to sell, he must list the property with the broker. This would be a violation of the:

Answer 1

Answer:

Sherman Antitrust Act of 1890

Explanation:

In this specific scenario, the real estate broker would be in violation of the Sherman Antitrust Act of 1890. This is a federal statute that prohibits activities that restrict interstate commerce and competition in the marketplace. Therefore, by telling the owner that he must list the property with his broker, the agent is preventing the other competitors from having a fair shot at obtaining the listing, making this a violation.