Think of the monumental change needed in the listing agent's psyche to get them to stop scolding the buyer-agents and give some respect - but instead they are shorting the commissions too. If you blow off the buyer-agents, then you're on your own - and the vast...
On Friday, the Plaintiffs’ counsel filed a Motion for Preliminary Approval of the commission-lawsuit settlement agreement with the federal court, so the two new rules will go into effect in late July, apparently. The plaintiffs have requested a hearing on final...
From the CEO of a large Sotheby's brokerage based in Florida: Last week the National Association of Realtors announced a settlement agreement in the Sitzer Burnett case that would take effect in July. For those who missed the declarations in the media that this...
Oh, you're going to get lower commissions alright - on the backs of the buyer-agents. The last time I checked a couple of months ago, there were 30% of the monthly closed sales that offered a buyer-agent commisssion under 2.5 percent. Of the 92 closings so far this...
Everyone seems to have a take on the commission lawsuits. This is one of the best: A way to implement an instant solution within the existing framework is to require that realtors possess a broker's license, which takes a minimum of two years experience (or a...
What a headline! Nowhere in this article does it say that NAR is slashing commissions or that any agents - the people who determine the commissions - have agreed to slash the commissions. The weak, spineless agents who have nothing else to offer will gladly agree to...
Once a home is for sale but not selling, how do you know what to do? Both buyers and sellers can apply my List-Price Accuracy Gauge: Once the home is on the open market, if it is…… Getting visitors and offers, you are within 5% of being right on price. Getting...
The commission lawsuits and action by the DOJ will cause buyers to wonder if they need to pay for representation, and what do they get if they do. It will also be a function of how much it costs. If the service was free, everyone would do it. It's been like that in...
I try not to double up the content here, and this was only linked in a previous blog post so I'm not sure how many readers saw this previously. But it is noteworthy!...
Yesterday, we attended Gov's annual update on new laws and forms for 2024. He touched on many topics - including that landlords in California might be agreeing to tenants for life because it's so hard legally to get rid of them - but the most interesting was his...
