Add to Favorites Remove Favorite Share. Contact Agent. How should we contact you? Contact Methods email phone both. Additional Comments. Sparrows Point Real Estate Agents. Dundalk Real Estate Agents.
Rosedale Real Estate Agents. Curtis Bay Real Estate Agents. Read More. Merch Store. Sign In. Accessibility Statement: OJO Labs is committed to making our products and services accessible to everyone, including people with disabilities. We work continuously to provide a digital experience that is accessible to all. If you have difficulty accessing any part of this website and need an accommodation or have a request for auxiliary aides or services, please contact us at accessibility ojolabs.
We welcome your feedback and will consider all requests. OJO Labs engages in consumer and market allocation schemes with Partner Agents brokerages, because it is a broker itself. Instead of representing consumers to help buy and sell homes, this "paper" brokerage actively disengages from its licensed activities so that every Partner Agent knows that OJO brokerage will not compete with them.
OJO Labs does not act in a real estate brokerage capacity, instead, their real estate license is used to collect a blanket referral fee from the largest number of brokers possible.
Sherman Act effectively requires all active real estate brokers to proactively compete for consumers. An agreement or an understanding between brokers not to compete for a mutual profit is a "per se" violation of antitrust regulations in the United States.
The amount of a referral fee between brokers must be negotiated with respect to an individual transaction. It is a per se violation of the Sherman Act for real estate brokers to agree on a "standard" referral fee that will be paid for producing a client. Real estate professionals are not allowed to enter into blanket referral agreements between one another because such agreements always restrict free trade.
Brokers are not allowed to organize their operations into any collusion schemes and networks, and instead, all brokers must compete for consumers on a fair playing field. Legitimate agents who choose to not engage in the OJO referral scheme are harmed as well because consumers are steered away in a highly competitive real estate market.
Actions of OJO Labs "paper" brokerage directly increase the costs of owning homes in the United States due to added blanket referral fees, consumer allocation practices, and reverse completion between brokers. Partner Agents in the scheme have no incentive to compete for consumers with lower fees, instead, they have an incentive to compete for OJO Labs' attention.
In this scheme, both colluding parties benefit from offering consumers higher commissions. OJO Labs promotes Partner Agents as somehow "superior" to those outside of the network, thus limiting free-market competitive forces and steering consumers in self-interest toward a network of very few agents who chose to agree to participate in the scheme. As a licensed brokerage, OJO Labs owes absolutely no duty of care to consumers and takes no responsibility for the transaction, despite receiving a direct financial benefit from the home sale or purchase completed by a third-party referred brokerage.
Blanket Referral Agreements in Real Estate. How real estate referral fees work. Market Allocation in Residential Real Estate. Hidden Referral Fees in Real Estate. Five Real Estate Commissions Myths.
OJO Labs is a 'paper' real estate brokerage. Agents agree to pay OJO Labs a referral fee, on all closed transactions, through their employing broker. OJO Labs does not offer any representation services.
OJO Labs is a consumer brokering scheme that works to receive a cut of agent's commissions with the use of blanket referral agreements. OJO Labs is a consumer allocation scheme between licensed real estate brokers that increases broker commissions and limits consumer choices.
OJO Labs' revenue comes from undisclosed referral fees. OJO Labs is a pay-to-play scheme that offers biased matches for financial gain. The main qualification for real estate brokers who participate with OJO Labs brokerage is their willingness to pay a referral fee. Consumer allocation between licenses real estate brokers is a felony in the United States prohibited by federal antitrust regulations.
OJO Labs directly competes with several broker-to-broker blanket referral fee schemes, including Zillow Flex , Realtor.
Genuine alternatives to OJO Labs are unbiased real estate platforms, open marketplaces, and consumer review portals that offer reliable information without any pay-to-play bias. Pros: there are none with OJO Labs. OJO Labs is a 'paper' broker that operates a consumer steering scheme with a network of independent brokers.
Consumer allocation between brokers holds no tangible value to any consumer, either when buying or selling a home. Cons: there are several main disadvantages to OJO Labs. First, consumers are hiring two brokers for the work of one. Second, OJO Labs takes a hidden referral fee, so the referred agent is unable to offer their full value to consumers. Third, OJO Labs only recommends paying agents to consumers, leaving out the vast majority of honest agents who refuse to participate in the scheme.
Summary: OJO Labs steers consumers toward their network of brokers and away from others. Chris H. Marty H. I have never worked with a referral source like this. Thanks, OJO. Brittany J. The fact that you pay referral after close is a supreme incentive for me as a newer agent!
0コメント