The Changing Real Estate Market - Oxley Holds Hearings

RE:The Changing Real Estate Market - Oxley Holds Hearings

Connie — Tue, 29 Aug 2006 11:00:00 GMT

Why is it that we are always the "bad guy"? We work for months advertising and marketing a property and many times don't even get paid...much less recover our costs. When is the last time that you saw a price list from an Attorney or a Dr. or a hospital as far as that goes. And they get paid whether the "consumer" wins or loses. We don't!! We pay dearly for the MLS and I see no reason that the public should be invited to use it for free!! It's our tool!!

RE:The Changing Real Estate Market - Oxley Holds Hearings

Beth — Fri, 11 Aug 2006 11:00:00 GMT

Shane, A "free" MLS, what a joke! I would love to see consumers sort through thousands of properties for sale without knowing what is valid or not. Wouldn't a seller be tempted to enter information that may not represent the true condition of the home just to get someone to visit the property? Data validation and education of the thousands of Realtors that utilize the MLS systems is what makes it so valuable.

RE:The Changing Real Estate Market - Oxley Holds Hearings

shane — Thu, 10 Aug 2006 11:00:00 GMT

Brokers control of MLS systems and not the consumer is a fair issue to tackle, especially when most MLS systems post commissions to be paid, why speak of “price setting” when all can simply just read it? The solution: a free to all MLS system all can post listings. Let the general consumer control the data. No one should be able to stop competition base on what is charged, or stop a consumer from gaining full benefit from the market or what tools are available to them?

RE:The Changing Real Estate Market - Oxley Holds Hearings

shane — Thu, 10 Aug 2006 11:00:00 GMT

Hearing of this type is a good thing for the real estate industry in the long run. The issue of consumer rights is what is at hand here. Operational cost and efficiency is up to each individual company to manage (time & cost). The issue of the MLS is what really is at the core here. Commissions I think will fade leading to a more competitive industry in the end, and then again maybe not (how far will this industry promote consumer issues and education will decide).

RE:The Changing Real Estate Market - Oxley Holds Hearings

anonymous — Wed, 09 Aug 2006 11:00:00 GMT

John, I would first like to point out the fact that BROKERS do not have customers sign such an agreement and do not charge a fee if the customer goes elsewhere like Real Estate agents do. As far as the education of the consumer, this day in age if you are making a purchase as large as a home with all the info at your finger tips and the many different brokerages to choose, I think the consumer should take responsabilty for their own education. Just like any other purchase.

RE:The Changing Real Estate Market - Oxley Holds Hearings

Leesa — Wed, 09 Aug 2006 11:00:00 GMT

So how is it that Real Estate agents get to charge 7% and don't do much more than open a door. When we know how much work we do for our clients and how many hours we spend trying to make a win win situation and yet we spend most of our time in public defending our profession. I think that maybe a reporter should not only spend a week with a broker but a week with a RE agent. Then interview some past clients. 1st time home buyers, or someone who's home we saved as well as 100's of mthly dollars.

RE:The Changing Real Estate Market - Oxley Holds Hearings

John — Wed, 09 Aug 2006 11:00:00 GMT

Kim, buyers that are forced to sign exclusivity agreements with Realtors do not have the option to go to a cheaper, non-traditional broker without being charges a fee to terminate said exclusivity agreement. Also, who is responsible for the education of the buyer? The Real Estate Broker that wants the borrowers business and the 6% commission? or the discount broker that is only charging minimal fees? Free Trade does not mean 6% commission on every home sale.

RE:The Changing Real Estate Market - Oxley Holds Hearings

Kim — Wed, 09 Aug 2006 11:00:00 GMT

If someone is being charged to much they have the option to go to another Real estate office. It is the same with Mortgage Brokers. Consumer education is what should be addressed so that people are aware that not all brokers charge outrageous fees. There is alot of time and Money in marketing. Educate the consumers so that the Brokers who do overcharge become forced to be fair and not greedy. It is not right that "Brokers" get a bad reputation due to the greed of some!

RE:The Changing Real Estate Market - Oxley Holds Hearings

Melissa from ATL — Tue, 08 Aug 2006 11:00:00 GMT

Ditto to Jack. No one want to talk about all the hours and money spent on marketing a home for sale and 4 months later there is no sale. The amount of money that an average REALTOR Makes is I think up to about $25,000 a year. WOW, I should get a real job that actually pays me weekly regardless if they sell anything or not!

RE:The Changing Real Estate Market - Oxley Holds Hearings

Roger from TN — Tue, 08 Aug 2006 11:00:00 GMT

Silly me, I thought I could sell houses just sitting in my office, making phone calls and sending emails, five days a week. Why, just last Sunday I saw several securities brokers skip church and family time so they could drive their clients around to look at stock portfolios! Reporters develop a healthy respect for police work when they ride with a cop for one night shift. Perhaps the Rt. Hon. Oxley should ride with a real estate broker for a weekend, and stop comparing apples to oranges.

RE:The Changing Real Estate Market - Oxley Holds Hearings

Jack Olson — Tue, 08 Aug 2006 11:00:00 GMT

Looks to me like anti-trust violations and price-fixing.