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212 Comments on what you've said on the internet about Commission is there forever, forever, forever
The Sherman anti trust laws talk about anti trust a wide range of issues from price fixing to monopoly's,But I don't see any mention of exchanging information to RE licensees from state to state. as a matter of fact it didn't specifically talk of Real-estate but all commerce in generalThat would fall under state licensing laws. I started marketing for a title company also and the prices are regulated by the government the allowed fees are regulated yet enough for them to make a decent profit. Of course that doesn't pertain to the junk fees that some of them tack on. I wonder if the Government will some day step in and say all fees must be uniform in order to protect consumers and how NAR and other industry groups will react to that. How would we on the board react to this hypothetical situation. interesting.
You are correct Alan. Some Realtors are to dense to get this.
lots of wondering, Thomas.
Tigard - some are, indeed.
Real estate commission is negotiated and not a fixed amount and thats all folks!
Dolores - that's all folks.
Can you say till infiniti? Some people just don't know when to shut up.
Dennis - yes, I can.
It is amazing that in this day and age people still don't realize that you have to THINK before posting things on the internet! It WILL come back to bite you!
BarbaraJo - it is amazing.
If Realtors are so crooked and stupid and spend all there time trying to figire out right from wrong they need to become lawyers. Do the right thing all the time every time.
Commissions are sacred. Trust me. There is no "standard" commission, given our business model, however, we tend to hover around ^% or whatever that is....Let the undercutters and undelivers offer whatever they want. I recently had a client who had had his home listed for nearly 9 months with a big box for &%. And, when I listed it, and got him an offer that he accepted within 8 days, told me that other agents would have listed it for 4 or 5%. Right. I told him. But, could they have sold it? Your more expensive agent didn't and she had more incentive to sell it. Nuff said.
Suzanne - whether there is, or isn't a standard commission, isn't really even the point. The point is that there are sacrificial lambs out there, who are willing to stand up on the mountainside and announce at the top of their lungs, that the standard commission is X%! And once those feathers have been let out of the pillowcase, they are impossible to put back in, and are permanently out there in the world for all to see.
I dont want to talk about commisions anymore, Talk is cheap ill just collect as many as I can.
Thomas - you're right. Talk is cheap.
Alan, I know this post is coming up on a year old already, but it will remain relevant forever! I am often amazed at how openly agents from different brokerages talk about commission structures. My commission structure is my business and the business of my clients. I don't even talk about it with my wife because, not being in the business, she might misquote or misrepresent what could be perceived as a 'standard commisson'! Great post, and so much more good info in the comment thread too!
Chris - it surely was one of the good ones.
"the discussion of commission amounts, in public (and social media IS public) is a violation of Sherman anti-trust laws" Thanks for reminding us....I found your post because someone reblog it and I'm glad he did.
Aida - I'm glad he did, too.
I think we should all stop talking about commission and go out get us some, Whos with me on that ?
Thomas - you go ahead... we'll be along shortly.