Agents and Brokers as Consultants: Conflict of Interest or Value-Added Service?
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Do you get what you pay for? Why does it matter? Any ignorance about commissions may option commission low brokers indiana to a royal ripoff. Ever wonder option commission low brokers indiana there are nearly no Realtor blogs discussing commission structures openly? His excuse was the market was horrible and tons of homes were listing, but nothing was selling, so they were in dire straits. Ultimately, several were found guilty of conspiracy to option commission low brokers indiana commission rates in violation of the Sherman Act, an Antitrust law.
And to even get up and leave a room if somebody talks commissions. It got so bad that the Virginia Assoc. He happened to use the number chickens. And the press make it worse with headlines like: With misinformation like this, what is the consumer to think? Keep them in the dark, and they are worse off. First a break down of the total commission charged.
This is VERY confusing to newcomers and consumers remember confusion can be profitable. Of which some of that goes to the cooperating buyer agent. Sometimes it will be half 50 beanssometimes much more, but rarely is it much less ie. Statistically it is rare for the listing portion to be higher than the buyer agent portion. While that is consistent with what I have seen, option commission low brokers indiana are variations in many areas and price points. In other words, short sales tend to offer only 2.
Only the buyer agent, not the buyer, knows the offered buyer agent commission before visiting the home. See also the benefits of an exclusive buyer agency agreementsee blog post. So now that you understand how the buyer agent is paid, then you have the ammo to catch some trickery some listing agents pull.
Because the commissions are bundled into one number, ie jelly beans, they can offer less to the buyer agent to make the total number look option commission low brokers indiana. I called him out on not disclosing the break down of that total ie how much to the buyer agent.
But he responded that the 3. Ok, no problem, but do you see how that can be confusing to the consumer? Here is a video of my talking on CNBC about this practice. The second is fact kinda. People like to assume it is half and half, but that is not likely. But the study is nationwide. Or watch my video. However, I did hear one funny story. Come on, give me a break. Wow, do I hate that line and sooooo many Realtors use it when trying to defend their commission google it.
Why do I hate this pitch? Stuff you would be like: It launched my career and my option commission low brokers indiana of four Wall Street Journal featuresand I was worth much more than a buck! This is embarrassing Attn Agents: I have an online free 2hr photo class for agents, email me. Maybe because it can take 60 minutes with our antiquated MLS system. Those are the things that sell homes.
Even though it is FREE to them! Why does this matter? I agree large super wide angle photos are the more important, but buyers also care about the flow of the house from room to room.
So sellers, tell your listing agent to upload a video for free at VideosByAddress. Hopefully you learned something and this blog. On the one hand you might get ripped off with one agent charging jelly beans metaphor for commission percentage, see abovebut then you never see them after the initial pitch, and 3 newbie assistants run the show.
Consumers deserve to fully understand what all of their options are and how the confusing Realtor commission system works. With this information they can make the best decision for their needs.
Best of luck selling your home! Did you see FranklyMLS. As a newbie, I am being told that I get only 30 jelly beans per transaction. The phone, the time, and pretty soon you are working for free. With public perception that one is ripping off the transaction?
Mail will not be option commission low brokers indiana required. Option commission low brokers indiana Great Hush Hush Exposed. June 9, at 7: June 14, at Leave a Reply Click here to cancel reply. Will look, thanks FranklyRealty. Dont see why option commission low brokers indiana.
Usually it is in order. Depends on the contract. Thanks for your comments. Featured in the Wash Post.