NAR Takes A Lickin From Competitors At Oxley Hearings

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

AmericanStreetBlog — Thu, 03 Jul 2008 11:00:00 GMT

Over the last few years, so many goofball and incompetent Realtors emerged, along with other Real Estate "professionals", due to the easiness and overwhelming real estate sensation. However, historically under normal and sensible market conditions, Realtors, good Realtors are great in the residential buying/selling sector, especially in Commercial Real Estate. I do think the average homeowner has become more savvy and you will see top brokers with reputable brokerage firms survive and thrive. I feel much of the animosity expressed here is from people who have dealt with much of the incompetent Realtors that emerged the last few years. However, reputable brokerage firms market, negotiate, and consult for their clients which can create success for the respective client: all traits required during normal market conditions. Middlemen will never be squeezed out. Especially in the finance world as this conduit was created to offset typical bricks and mortar business. Oh and Zillow is not the answer for everything. Generally, people like the relationship with a human being with the purchase or financing of their HOME.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

joe — Mon, 30 Jun 2008 11:00:00 GMT

Realtors are middlemen. In almost every other industry, the middlemen have been squeezed out of the business. Travel, finance, banking, retail, wholesale, you name it. They have been squeezed because consumers now have the information that middlemen once had. Real estate is exactly the same. One word, Zillow. If I were in real estate, I'd find another job.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Ric — Tue, 17 Jun 2008 11:00:00 GMT

Realtors don't sell houses. Homeowners sell their houses. How? Well, how many boxes and loads of extra stuff did my realtor pack and take to the storage unit I paid for to de-clutter my house? None. How many times did my realtor clean and vacuum my house? None. We did it everyday, twice a day for 90 days. Realtors need to get off their high horse when it comes to thinking THEY sell houses. Real Estate is easy work. It may not pay well if you don't do much business and it's not convenient, but please don't call it hard work.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Linda — Mon, 28 Apr 2008 11:00:00 GMT

In Maine, the NAR is so powerful that realtors don't even have to pretend to play by the rules. They're a den of thieves from the top on down. Everyone knows it, nobody cares.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

East — Tue, 10 Apr 2007 11:00:00 GMT

Realtors are useless, and collect a very high fee for doing almost nothing. If fact, many work against you. The second I enter an open house, what comes out of a the realtor's mouth are phrases like "It's a buyers market.", and "This home is going to be reduced." Give someone a freaking moment to fall in love with the home first!

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Rob Truman — Mon, 06 Nov 2006 13:00:00 GMT

I am a Realtor! This has been a long time comming and its about time. We are forunate to operate in states where the MLS is public and a attorney is not required. We have been offering unbundled or fee for service for the past 2 years. It has been the best business decision we ever made. For the most part the consumer wants more control on the services they purchase. Its the consumer's job to set value not the Realtor.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Sue — Fri, 25 Aug 2006 11:00:00 GMT

I have been selling real estate for over 15 years at what is considered to be a "discount" rate (5%) with complete full service including MLS. My business has evolved nicely to a point where I work mainly with referrals and past clients. However I still encounter many potential clients who chose to pay 6-7%. They perceive that there is something that the other realtor is doing that I don't. That is their choice. Look around...the choice to pay less has been ignored for years.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

George — Mon, 21 Aug 2006 11:00:00 GMT

I WANT to use a broker to buy. But in my state I can't get into even a watered down version of the MLS to scan large numbers of properties over a wide area. Instead I'm stuck with Realtor.com which is nearly useless and slow. I want to find my property first - then contact a buyer broker. I dont have time to visit tons of realtors or their sites to find out what's for sale. Sad that they just don't get it.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Stacy Johnson — Sun, 20 Aug 2006 11:00:00 GMT

I'm a consumer reporter who's stories air in 80 cities nationwide. I recently did a series on the NAR, Justice and FTC. My only comment in conducting many interviews and reading sites like this is: Realtors really need to stop insisting they're services have value. The issue isn't that you don't provide value: We all have value at work, or our jobs wouldn't exist. What you have to explain is how sometimes you earn 20 grand for 40 hours of work. Until you can, this issue won't go away. Period.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

PurpleFlash — Fri, 18 Aug 2006 11:00:00 GMT

Realtors like Loan Officers (good ones) do much, much more work for their commission than the average client, person or crudading gov't offical realize. So "large" commissons are often earned and for the client (seller/buyer/borrower) fall in the department of "You get what you pay for". But having said that, what is so sacred about "6%". Let the Market correct all this. If dicount brokerages want to charge less, per service etc? To the better businessmen and women will go the spoilsl

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Former LO — Fri, 18 Aug 2006 11:00:00 GMT

I've seen loan officers drag their feet and bring down the wrath of a real estate broker upon them. Generally it was deserved. I always had a we're in this together attitude but have butted heads several times with arrogant brokers who would not come off their commission by one penny when it was necessary to close the sale, while at the same time telling the mutual client that I was overcharging them. Guess who was taking the biggest slice of the pie? Its not a zero-sum game. All can win.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Long Beach Realtor — Thu, 17 Aug 2006 11:00:00 GMT

I've only been a realtor since 1998. Times and the way business is done has changed. So many lawsuits out there, I believe you need someone you trust to guide you through the process of selling and buying. I deal with stacks of LEGAL contracts and difficult people (sometimes when an escrow closes I feel I deserve more than I agreed to take due to the extreme stress I suffered during the transaction). Walk in our shoes for a mile and you may then appreciate all we do to 'earn a commission'.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Michael — Thu, 17 Aug 2006 11:00:00 GMT

This sounds like a firestorm brewing, but full-service brokers have no worries. With large transactions such as this, you want a professional, few people have the process down well enough to buy/sell their own home. Even fewer have the practice and expertise. After all, how many homes does a person buy/sell a home in a lifetime?! Realtors have the experience needed, smaller discount brokerages just don't have what it takes to get the job done for most areas. (I'm a Loan Officer.)

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Jean — Thu, 17 Aug 2006 11:00:00 GMT

I was a broker for a few years and think the industry must either change or collapse due to its inability to evolve. A six percent commission is totally outrageous, and splitting it 4 ways is pure greed. Basically, they're not worth it and the market will correct this as all before have undergone correction due to technology. I foresee an open internet service of listings and sales soon, with brokers serving whatever services their clients require on a per-service fee basis, period.

RE:NAR Takes A Lickin From Competitors At Oxley Hearings

Re/Max NJ Realtor — Thu, 17 Aug 2006 11:00:00 GMT

I'm a Realtor in NJ and I have read over the arguments presented for why Realtors are useless. I know why consumers want discounts or to pay no commission at all, they feel that the money they've accumulated on their homes is theirs and hate to have to pay it to some Realtor who's only job is to fill out some paperwork and make some phone calls. And if your Realtor's only work on the sale is this than they should be fired, but it is much more complicated than that. Believe me.