60 Minutes Bash

I watched last nights program with an open mind, and thought that 60 minutes was going to not sway the discussion one way or the other; however after watching the program I was not pleased.  For starters, if you were a lay person and not a professional your first comment would be "Why should I use a Realtor, when I can get the same services for much less?"  My comment is that you are not getting the same services.  What 60 minutes did not show is how little these companies do for you, and when something goes wrong how fast these companies are to blame or stay away from their "clients".  I am currently working on a deal where the sellers have used one of these brokers and I have the buyers.  Now this worked out in my favor because I had to do all the negotiating directly with the seller who had no knowledge of our market, Not my fault, I am a Buyers Agent.

Now for the Agency discussion!  I noticed last night how every time this "Redfin" guy spoke he talked about being an Agent for the client.  I find it hard to believe that any low fee broker can provide the services of a true agent.  Here in Colorado we have different Agency Law, meaning that there are three ways that we can work with a client, AGENT/Transaction Broker/Customer.  The general public does get confused as to the differences, but as a professional one should know these.  If you are working as an Agent in Colorado you are held to a higher level of responsibility and you have many more duties to your client than if you are a Transaction Broker.  The major difference between the two is best described as the difference between a "Coach, Agent" or a "Referee, Transaction Broker".  I do not feel that these low fee brokers are doing there clients the service that is expected. 

The last point of contention comes with the quoted commision.  Last nights program constantly repeated that us Realtors ask for 6% of the commision.  Well let me say that it is Illeagal to have a standardized commision.  Comissions are negotiated and can change constantly.  It may be a company policy or a personal business decision to take 6% all the time, but  this is not set in stone, like it was talked about last night. 

Realtors provide a service that these low fee brokers can not! If anyone wants to know more about what we can provide that these companies can not please feel free to contact me and discuss.  I will be more than happy to discuss my personal involvment with these types of companies and how they do not do a service for there clients and then we have to clean up the mess.