The NAR Clear Cooperation Policy states that every listing must be inputted into the MLS within one business day after it is advertised publicly. The idea is to ensure that every agent has a chance to sell it. Our boss is leading the effort to end the CCP (see above)....
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Lance asked how the new realtor rules were affecting agents - here are responses from around the country that I clipped from two different email threads. Thanks Lance!
Will listing agents demand to see the buyer-broker agreement just to show a house? Agents are known to have their own interpretations of the rules - one listing agent already said that it is against the rules to ask her if her seller is paying concessions - so it is...
It's going to be tough on the newer agents going forward. The commission lawsuit stuff isn't the big concern. Sales are likely to keep dropping, and at the same time the better agents are picking up market share. There aren't enough sales to go around for every...
I love this new change - the sellers get to choose whether or not they get to receive love letters from buyers with their offers. Buyers should be given every chance to compete for the win, and submitting an introductory letter with photos of the kids and dog is a...
The California Association of Realtors had to re-write a few of their new forms in order to comply with the DOJ critique. These revised forms get released tomorrow, and they will probably help chart the final path for buyer-agents. There are two noteworthy points in...
The other real estate reality shows are so full of drama that they are barely watchable. While they do pack some drama into Ryan's new show, Owning Manhattan on Netflix, they mix in a few examples of him doing a masterful job of negotiating between agents and...
Hat tip to Carl Streicher, mortgage broker, for sending over this handy chart on allowable concessions, also known as seller contributions. This is how the buyer-agent commission can be included as a part buyer's mortgage package, even if the seller didn't sign the...
This business used to be civil. It was probably obvious that the contracts were drawn up by the realtor attorneys to protect realtors, but there were adequate protections for buyers and sellers too. This commission lawsuit has changed everything, and now they only...
