On Monday I talked about the big brokerages coming together to sue NAR for the terrible job they did in looking out for our best interests. Nothing else happened this week, but the CAR must have heard something: "Every June, C.A.R. issues new and modified standard...
Here we go! This week, we're going to find out more about the DOJ's stance on home sellers paying commissions to the buyer-agents. Finally! Everyone agrees that sellers can choose to pay NO commissions. Heck, you don't have to hire an agent to sell your house - go...
Our president of the western United States was at our regional sales meeting on Friday. At the end, he announced that Compass has joined with all of the other brokerages who were identified in the NAR settlement as having over $2 billion in sales volume - a group that...
Yesterday's blog post identified one solution for buyers which we'll call the Gunslinger Special - where you wait patiently for the perfect home and when it hits the market, call JtR and give it everything you got. What are the other options? First, let's note that...
The elimination of buyer-agents continues: The U.S. Department of Justice broke its silence in court on Tuesday on the impending changes coming for the real estate industry in the wake of settlement agreements by major brokerages and the National Association of...
While management believes that buyer-agents will adapt and the implementation of the buyer-broker agreement will happen over the next few months, I have my doubts. It's more likely that buyers will resist paying 2% to 3% to their agent, unless they are convinced that...
Everyone thinks that commissions will be negotiated with the offer. On the surface, it seems like a reasonable solution, but it will depend on whether the listing agent will stand up for their fellow agents getting paid, or wimp out and hide behind the seller. The...
A new $3,000,000+ listing hit the MLS this week that was offering a 1/2% commission to the buyer's agent. They also noted that to show the property, buyer-agents needed to submit proof of funds (bank statement) and pre-approval letter plus a 24-hour notice was...
I keep getting the question. 'What are you going to do about these buyer-broker agreements?' I told Donna yesterday that I'm probably not going to do them, at least not much. Oh, but you have to do them! Yeah, I know, but it probably means that I won't work with...
Test drive an agent free for seven days! Now that NAR’s proposed settlement of the Sitzer/Burnett lawsuit has received preliminary approval, the industry is receiving numerous updates about the future of real estate practices. One change, set to take place in July, is...
