This past weekend 60 Minutes aired a story called "Chipping away At Realtor's 6 Percent". I will not comment on commissions; what they were, what they are now or what "some" agencies charge, but what I will comment on is the number one thing property owners do not understand unless they are sat down and told face to face. Commissions in Real Estate are earned from Contract to Close. Almost every transaction I have had whether I was the listing agent or the buyer's agent had more that one issue come up and was either negotiated or the deal went flat, but in all cases, my clients were protected and if the deal fell through....it was in their best interests. Without a licensed agent, these people might have had a very bad experience. The 60 Minutes story highlights an Internet company that handles transactions over the phone without even seeing the house in person. That screams the words liability, disclosure, material facts, or this county requires that addendum? You can't just have someone draw up some paperwork and say there you go, good luck with the transaction, especially if they don't know the area. There are way too many factors that come into play when pricing/analyzing a home than just comps retrieved from a county website, which is what happens all the time, but those comps are not accurate for a number of reasons.
The fact is, the Real Estate Business requires and person to converse with face to face and walk you through a transaction. It is not like selling vacations, books or stocks....just to name a few businesses the Internet does compete well in.....this is a business with a lot of if, ands or buts. Home owners will of course make their own decisions and learn from their mistakes or triumphs, but I know as a Real Estate Professional, that we are licensed for a reason, we have continuing education for a reason and we have a Commission/Board that protects the very people we serve for a reason....to provide the best service to the public. That of course is just my opinion....I would love to hear yours.
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