Miriam, I personally like your last comment on your article.  Very well put.  Thanks for the heads up, will look for this happening in my area as well.  no one wins when someone offers you something for nothing, which is what was being offered in my opinion.  Real Estate professionals earn every penny they make.  Good luck.  Bob

I hadn't heard about this yet.  They tried to recruit me this past fall, as they wanted greater reach into Connecticut.  I'm not surprised of the news of their demise.

Mike - I understand your position.  The thing is I sold one of their listings a few years ago and it was torture.  Not to mention that I had to do both sides. Perhaps their demise can be used when presenting to a seller explaining why they didn't succeed, after all if it is such a good idea or so obvious, why did they go under. 

Truly I am glad they are gone, I did "enjoy it while they lasted" so to say for the reasons above, but I always said they will either stop doing business here or they will start a sister company and offer 5-6% commissions. Sellers ARE learning. We had a guy in our office who worked for them, said it was a nightmare and he said the most phone calls came into the complaint department.

What a relief, maybe now sellers will understand why real agents cannot cut their commission and still sell homes.  I hope the consumer will learn from this, but people are always looking for a bargain so who knows. I also started a deal with foxton's, they bumped my buyer (legally) but would not return her deposit money for four months, it was horrible.