Last night's show was the worst reporting I have seen and it came from a source I have always trusted. 60 Minutes!
You can find the 60 minutes segment here. Then please read the excellent response from NAR.
Do you think Leslie should be making the same income she made 25 years ago? I'd vote for that!
Let's use this as a chance to explain why we charge the commission percentage we do. Discounted or full service. It is a choice!
I have posted a link to this your article on 60 Minutes -- "Et tu, Brutae?"
For my explaination of the full service commission, please read A REALTOR's Worth: What 60 Minutes "forgot" to tell you.
As a former fan of 60 Minutes, I am appalled that 60 Minutes would allow something to be aired without better research and some higher education for Leslie Stahl regarding the Sherman Antitrust Act and the meaning of the word "kickback".
The next time I watch 60 Minutes, it will be of Leslie Stahl loading photos of her home to her website and showing the public through her home until she sells it.
As a Realtor that specializes in land acquisition, development and marketing of new homes, if I don't produce sales there are economic consequences. Not only do my sales provide income for my developers who sell the lots, but the builders who build the homes, subcontractors that work for these builders. etc. Materials are purchased to build both roads and homes, property taxes are increased as these lot and home improvements are made which in turn improve our county's infrastructure and pays for our schools.
I am not worried about a commission percentage or lack thereof but about those people whom I represent and the people who work for them as well as their families. I will never be rich but I will never make my living attacking someone in whose shoes I have not walked.
Okay...dry land is not a myth, I've seen it!
(lol) no really, I have watched the segment on 60 minutes that is drawing such rave responses. I did not think that the segment was very well done, the first agent at redfin (blonde female) was lying through her teeth. I did not emerge with a great deal of respect for 60 minutes after this segment...mainly because of the way that the info was presented as "solid" and it was skewed to appear that it was really in the benefit of consumers to use it-Also, I disliked the way that "traditional agents" were portrayed as money hogs who don't work enough to earn their commissions. The most appalling part was when they declared that traditional agents are against using the internet in real estate...WHAT???
I am not an agent, but I was offended by the tone of the piece..I think it was done in poor taste.
MY 2cents
Good Point Rich. I emailed CBS prior to posting my comments. I hope everyone who reads this information gives CBS their opinions, good and bad!
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