These Palo Alto guys have been making national headlines since they rolled out their reduced-commission program last week. They are offering a $10,000 fee to buyer-agents, instead of a percentage, AND encouraging buyers to come directly to the listing agent to avoid...
This report should be the last dagger for buyer-agents. Won't buyers who are empowered by searching for homes on the internet themselves just go direct to the listing agent, rather than paying extra for their own representation? They don't think they need...
Hat tip to the three people who sent in this article: https://www.axios.com/real-estate-fee-showdown-lawsuits-5e88b18c-3baa-4cb0-8302-2a2a8fa16eda.html It's a sexy topic because the realtor industry is terrible at explaining commissions, and then reporters jump into...
A few readers have sent in articles regarding the class-action lawsuit filed about commissions - an excerpt: A class-action lawsuit is seeking to upend the way homes are listed for sale and the commissions paid to agents. The goal, say the plaintiffs, is to make home...
We already have at least twice as many realtors as we need, and now we are loading up with middlemen too - everybody wants a piece of the pie! There is an escrow company now that will input your listing into the MLS for $50, as long as they get the escrow! These guys...
Tom Ferry is real estate's #1 educator, and he and his staff are coaching realtors around the world. He was gracious enough to allow me to run his latest video below, where he discusses the developing trends in the business: Right off the bat, he mentions Commission...
Do realtors steer buyers to listings that pay higher commissions? This new study by NBER says we do - I chimed in at the comment section: http://www.notorious-rob.com/2015/09/nber-study-conflicts-of-interest-and-the-realtor-commission-puzzle/ Maybe it's my...
Link to full HW article HERE: Zillow Group is positioning itself to take the lead in bringing the entire home-buying process online. During a Tuesday call with investors, Zillow CEO Spencer Rascoff revealed Zillow’s reasons for acquiring DotLoop, a Cincinnati-based...
Rob Dawg said, quoting this latines.com article: "Regular marketing doesn't work anymore." Seems the RE industry is at a crossroads. Marketing or facilitating. One need only read the quote and see which way the wind has shifted. Houses are worth different prices to...
Yesterday, a name and number was sent to me by an internet lead service. It doesn't cost me anything to receive the leads - the internet-lead company gets a referral fee from the listing agent once the sale closes. I'm on the list more for amusement - I've never...
