MORE PATHETIC PUBLIC RELATIONS, MORE BAD PRESS for REALTORS.
OUR BUSINESS IS NOT ABOUT THE COMMISSION PERCENTAGE. IT'S ABOUT THE VALUE TO THE CONSUMER OF SUCCESSFUL REAL ESTATE TRANSACTIONS.
I would like to know where they dug up that pathetic excuse for a "spokesperson" for real estate listing agents. She was a clear dupe of the moderator. I wonder if her broker approved the piece. Of course, it wasn't advertising, that's for sure, so no reason for the broker to review anything. When is an objective journalist going to do an expose' of a few discount brokerage companies? It would appear from the media slant that all customers of discount or Internet listing companies are happy campers.
I just did a search for one of the major Internet listing companies in my market area and for all of 2006, the stats are 160 Expired, 311 Withdrawn and 336 SOLD. Of the 336 Sold, a large number, about 65, were listed a "0" DOM with listing/contract/settled date all the same. That stat leads to more questions than answers.
I believe that a home owner has every right to do anything they wish with their property, including selling it themselves, selling through Internet listing service or using low fee listing companies. However, it's patently ridiculous for the media to continue to focus on the fee that, in the eyes of the media, are higher than they should be, ACCORDING TO THE MEDIA. Since the media focus on only the fee, they apparently believe that all transactions are the same and all agents provide the same service and ALL HOMES ARE ALIKE.
The 60 Minutes slant was just too obvious to be considered fair, but it will surely make the Redfin web site click rate jump dramatically.
It's just a good thing that all sellers who use the services of discount brokers have homes that are:
- priced right
- have no material defects
- comply with state and local laws
- always appraise for the contract price
- never have disputes over price, terms or condition
- don't discriminate against protected classes
- close timely
- never have a dispute following settlement
If all of the above were true, I'd agree that traditional listing agents are overpaid. But, all sellers do not have
- perfect properties
- properties priced right for the market
- properties free of material defects
- properties that appraise for the contract price
- sell at or close to the asking price
- sell at all for any price
But, these anti-REALTOR pieces will continue to air as long as we continue to ignore that we are paid for WHAT WE KNOW, NOT WHAT WE DO.
ADDENDUM TO ABOVE AT 8:57 EDT; It just occurred to me that one of the reason we are getting such bad press lately is that the Internet companies like Redfin have THEIR public relations folks out there inspiring the 60 Minutes, Fox Sunday news and others to broadcase these pieces. The NAR, on the other hand, really has their hands tied by the DOJ litigation.
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