This article in no way as far as that is concerned this whole blog does not represent the views or opinions of ERA American Realty of Northwest Florida Inc. These views are solely those of me Brandon Jordan. Any comments or opinions can be sent to me directly.
Now let me fist start by saying: The deal is this the FTC Federal Trade Commission and DOJ Department of Justice. The RIS article reports the FTC will now take part in a transformation of the real estate industry by deciding that certain existing laws, rules and regulations need to be repealed.
Their feeling is that as commission fees "do not vary in proportion to changing home prices," they are considered to be "relatively inflexible" and therefore have in real terms become too high.
Could there be a few new factors that should be addressed for that line of thinking. One factor would be many markets have seen price decreases happening in a short period of time over the last year really and yet each property has more days on the market.
What does this mean to the more than 1 million real estate agents in the United States? For one real estate agents will spend more on advertising than they ever have before and more time working each listing of property for sale so that means less closings already which we have watched. Now at the same time we as Realtors are watching new competitions for an already stretched Realtor dollar
Facts are now the consumer expects more out of Realtors than ever before. That is why I think if someone is going to regulate something they should at least take the time to understand it. This new hybrid of low commission brokerage has bread a great deal of discontent with the consumer towards Realtors as a whole. I myself feel very disturbed by this and I have only been in the real estate business for a few years trying to do the right thing and bring as best service as possible.
I can only feel for those Realtors that have spent there lives to make as much of an impact in their clients lives as possible. To be able to be reached on the weekends or late nights all to bring a smile to clients faces when they think of there Realtor.
the feeling that consumers because of there effort has the feeling that they are in good hands with Realtors and will be represented in full without having to worry about taking care of all the details that go into getting a home sold. I have to ask should the consumer not have the right to not worry about any more than they have to already these days with all there is to worry about with having to sell a home in the current market in the first place even with all the details being taking care of with the Sellers full correct Disclosures. The correct addendum's the correct inspections, termite inspections, hoa fees, title companies,survey,flood insurance,Home owner insurance,extensions,WDO Repair limits how many consumers would know what that even is. I can go on and on and this is just the start of what we do after we have a offer in place.
Which all that being said this makes our experience of helping home buyers and sellers all that more difficult by the bad experience they have had with some of the fix rate less representing brokerages. Should they be able to present there selves as being the same as a full brokerage? I say no. I say they should have to disclose everything that they will not be doing for the consumer. Anything less would be unfair and in the end the "consumers lose " should lower priced flat rate brokerage companies be able to represent that they bring the same thing to the table as a full brokerage company knowing they don't?.
I feel one of the great things that has come from the corruption in the last decade was the right of the consumer to know the truth with the stock exchange and how did the trust come back after enron in these words and in the words of everyone that comes on to CNBC today "in the hopes of full disclosure" you take that away and start hiding the facts and we lose that trust. Once that is lost we all take a chance that a true Realtor and all that we do will be replaced by the computer and flat fee brokerage companies and all they don't do.
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