House Real Estate Hearings - Prosecution Rests And Defense Steps Up

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Anonymous — Mon, 23 Oct 2006 11:00:00 GMT

I agree with JR-Attorney. In the industry as a whole, the realtor is the only one that is self-regulated and it isn't working. Realtors have been allowed to grossly overstep their boundaries in the finance and title end and their overall knowledge is minimal in these areas. They fear no consequences from their own governing body. In this state, the realtor gives a buyer a printout of properties and the borrower is on his own unless he sees one he likes and the seller pays 6% for that.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Todd H. in Seattle — Wed, 20 Sep 2006 11:00:00 GMT

Real Estate is very hard work. You help your clients and you receive a commission. If your client decides to not buy or sell, you don't get paid and you have expenses to pay too. Would you work for free? Why should I pay for the MLS when consumers get for free? This is like you paying for your car and letting me drive it for free. RE agents are para-professional attorneys that specialize in RE. If you think RE agents are expensive, please hire an attorney. That's the way is used to be.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Staten Island Realtor — Tue, 19 Sep 2006 11:00:00 GMT

There should be stricter regulation by the individul states. More training and requirements and stricter fines would help weed out the bad apples. But there are unpleasent people in all aspects of life. The term Buyer Beware should not have to be taken literally but it does. Last but not least, I work 7 days a week 24 hours a day. This is profession I have chosen and I'm not complaining. But if you divided my income by the hours spent I probably make less than minimum wages.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Staten Island Realtor — Tue, 19 Sep 2006 11:00:00 GMT

A shared pool for the Professionals it was developed for. It is a tool that we use to help give the public the service they desire. As far as commissions go. I thought we lived in America. Commissions are brought about by what the market will bear. Their negotiated and thats the important part of the process. If a homeowner does not want to pay 6% he will find someone who will negotiate a more favorable percentage. Yes there are Realtors out there that should not be allowed to practice.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Staten Island Realtor — Tue, 19 Sep 2006 11:00:00 GMT

Most Realtors love what they do "Serve the Public".

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Greg — Fri, 15 Sep 2006 11:00:00 GMT

If you think Realtors are overpaid then I would like to see some of you work in our profession for a month or two. Try listing a home and getting it sold. See how when you break down the amount of hours you work that listing, you end up making a very small hourly rate. Nights, weekends, days, holidays .. you're always selling. Need I remind you that commissions are negotiable? In metro NJ/NY we're getting 4% and we're working day and night to move our clients property.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Andrew — Mon, 11 Sep 2006 11:00:00 GMT

People must remember that realtor commission structures were formed when homes were selling for much less... like 100-200K. So, 6-8K in commissions are tolerable considering the cost of advertising, etc.... Today the same home sells for 400-600K. Is 30K+- really a fair price to pay for services provided? MLS is only thing remaining that props up that commission structure. NAR will defend it's use to the death.... but nothing lasts forever.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Watchdog — Wed, 06 Sep 2006 11:00:00 GMT

I hear you Tom but part of it is perception. As long as the services charged for are actually provided, no problem. The ones that are not earning that commission are the ones that create the perception of realtors as being part of the problem. Many people do not know what services realtors truly provide because they never receive them. They just pay for them.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

David — Sat, 02 Sep 2006 11:00:00 GMT

As a licensed realtor, I understand the services that are provided, and in many cases, these services are overpriced by traditional real estate commision. Price fixing?. Depending on the homes value and the amount of marketing, agents should commision themselves accordingly. Access to the mls helps consumers by providing better information. I can set my commision structure according to the listing. I do a great deal of online marketing and I build websites that publish our local MLS.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Tom Giusti — Fri, 01 Sep 2006 11:00:00 GMT

I cannot believe the comments that I have read. Does anyone really understand the services that a realtor provides?? As an LO I also want to see the realtor commission stucture protected and do believe that there are "bad apples" in the real estate business. However, I have seen too many homeowners attempt to sell their home themselves, waste time, resources, added stress and then get "screwed" in the end.....It's no wonder that 83-87% of "For Sale By Owners" end up listing their home.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Danielle Von Tungeln — Fri, 01 Sep 2006 11:00:00 GMT

The fact about MLS's is that the Realtors maintain a complete inside listing that is only available to fellow Realtors. It is an IP address and you need specific information to enter. The MLS here in Portland Metro is owned by Prudential Real Estate Affialiates. That is monopoly. As for commissions of 5% for a listing agent and another slice for the purchaser's, it cost me 8k to sell a 145k home. These people committed fraud against my family and FHA. Nobody will hold them accountable! Help?

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Mtg LO — Thu, 31 Aug 2006 11:00:00 GMT

Many of the comments enclosed are interesting, in that, they provide other aspects of the arguement not offered before. As an LO, I support the Ethical, Professional, and Fair Realtors and want to protect their commission structure. However, I agree with the issue of Self Reg Ethics structure needing some serious overhauling by the AG! Just because a Realtor might not get paid on one client deal, doesn't mean they aren't getting paid on something else, from somewhere else!!!

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Vern Callero — Wed, 30 Aug 2006 11:00:00 GMT

The flat fee MLS model is exploding because consumers are asking for alternatives to 6%. Add in excise tax and escrow fees and the cost of selling your home can be over 8% with a traditional realtor! The total avg commission in Europe is 1.5 to 2%..Somehow the agents over there have figured out how to survive on 1.5%...also sellers don't pay 2 realtors to sell their home..just one...what a concept!

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

Steve — Tue, 29 Aug 2006 11:00:00 GMT

MLS is a monopoly no different than the phone companies used to have, and the cost of selling a home is far too high in relation to the value of the service provided. Consumers are fed up and want alternatives that provide value! Away with protectionism, MLS must be opened up to innovative new services that take advantage of technology and ideas that can easily reduce the cost of the real estate transaction.

RE:House Real Estate Hearings - Prosecution Rests And Defense Steps Up

JR-Attorney — Tue, 29 Aug 2006 11:00:00 GMT

Several of my clients have been financially harmed by unethical Capital R - Realtors. Realtors must be required to adhere to professional ethics, NOT to an ethical code established by themselves (NAR). Self-regulation never works. State Attorneys General need to get involved, licensing requirements need to be severely tightened, and fidelity bonds required. I am considering an action in state supreme court against the local board of realtors for policies that encourage unethical practices.