Another real estate copycat suit emerged with this comment in the filing:
The complaint alleges that “most” buyer agents will steer clients away from listings that offer a lower commission.
My brain thought “really, most agent will?” Did those who filed the complaint actually survey real estate agents? My sense is this is an assumption about human nature. And we all know about what happens with assumptions.
In my now eight years in selling real estate as well as listing mostly vacant land (Remember, I love to sell dirt), I know of a few real estate agents who may look first at the cooperating fee being offered. However, “most” will show properties that meet their clients or potential clients’ (aka customers) needs and wants without looking at the cooperating fee being offered.
Professional real estate agents will discuss how they are compensated. For myself, I do have minimum fees for either listing a property or selling a property. These fees are discussed and acknowledged in writing early on and rarely have I received push back. If I do receive push back, I suggest with great emotional intelligence that it may be better to work with another real estate agent.
Maybe all these real estate copycat lawsuits will thin the herd with not so professional real estate agents leaving? What I know is that my standard of practice has me ahead of the herd, the flow. Yes I have made some adjustments to ensure my brokerage as well as myself are not in the cross hairs of some “over anxious” attorney, seller or buyer.
Feature Photo Courtesy of Leanne M Smith, a small herd of open range cattle walking down the road in Golden Valley, AZ.
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