Understanding Real Estate and Anti-competitive Behavior
Real Estate vs. Personal Property
Real estate is property including land and the homes on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this property, also an object of real property, (more generally) buildings or housing in general. In terms of law, real is in relation to the land property and is unlike personal property while property means the "interest" a person has in that land property.
Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools, and the rolling stock of a farm.
In the U.S.A., the transfer, ownership, or acquisition of real estate can be by business entities, individuals, nonprofit organizations, fiduciaries, or any legal entity as seen in the laws of each U.S. state.
Example of Anti-competitive Behavior in Real Estate
Acme Realty offers discounted services. Berringer Realty and Hawthorne Real Estate Group decide to not show any of Acme's listings and to prohibit showings from Acme buyers to drive Acme out of business. What is this an example of? A Group Boycotting
Final answer:
It's an example of anti-competitive behavior or a conspiracy to monopolize. The companies are actively trying to hinder Acme Realty's business for their gain, potentially leading to less choice and higher prices for consumers.
Explanation:
The situation described where Berringer Realty and Hawthorne Real Estate Group are deliberately excluding Acme Realty to drive it out of business is an example of anti-competitive behavior or a conspiracy to monopolize. In the business world, anti-competitive behavior refers to everything that companies do to prevent competitors from challenging them, such as price-fixing, exclusionary practices, and collusion. The conspiracy to monopolize is a category of anti-competitive behavior, where several businesses collude to eliminate competition. This situation can have severe consequences as it can lead to less choice and higher prices for consumers, and it's often illegal under antitrust laws.