Practice of Real Estate
Daily brokerage centers on the listing, the buyer relationship, advertising, and the rules against restraint of trade. A listing is an employment contract between broker and seller and must contain the essential terms and a definite termination date. Exclusive right to sell (broker paid no matter who procures the buyer), exclusive agency (seller retains the right to sell unrepresented), and open listing (only the procuring broker is paid) are the standard forms.
Regulation of competition
Antitrust law prohibits price fixing, group boycotts, and market allocation among brokers; commissions are always negotiated and never set collectively. RESPA Section 8 bars fees for referral of settlement business and unearned fee splits, and affiliated business arrangements require disclosure.
Fair housing
Federal law prohibits discrimination based on race, color, religion, sex (including sexual orientation and gender identity), national origin, familial status, and disability. West Virginia law adds additional protected classes - verify the current statutory list before advising anyone. Steering, blockbusting, and discriminatory advertising are violations, and reasonable accommodation and modification requests must be handled properly.
Practice traps
Accepting compensation from anyone other than your broker, giving legal or tax advice, practicing dual agency without written consent, withholding a material fact in the name of confidentiality, and advertising a property without the brokerage name.
Rule of thumb: if it is not in writing, documented, and disclosed, assume it did not happen. Document showings, disclosures, and any conversation that could later become a dispute.