60 Minutes has lost all credibility

Real Estate Agent with McMahon Phillips Real Estate 01394956

Wow...it's clear, even the historically trusted news media no longer can be trusted. The segment 60 minutes ran on Real Estate agents and the 6% commission strangle hold we "supposedly have" on the market place was nothing more than a joke. The reporting was awful. The research was non existent. The spin was inexcusable. Anybody who knows Real Estate knows all commissions are negotiable just as are all bids to do any service. For 60 Minutes to even suggest they aren't is laughable. As a professional I was insulted as I'm sure many of you were. They "blond" Realtor who suggested the commissions she earned were tantimount to theft made me laugh out loud. Here she is speaking out of one side of her mouth saying it wasn't right because she "didn't even see the properties I sold" and there she is working for a company that makes a living out of selling homes in which they are never physically present! Talk about a hypocrite! In my state (CA) in most cases agents representing buyers and sellers are required to do whats called an agent inspection. Failing to do an agent inspection would be grounds for dismissal from my firm, it would subject the agent and broker to a lawsuit and the DRE would also suspend or fine any agent caught who did not perform one. These discounters are doing their clients a great disservice. Selling a homes is not like selling a record or a Dell Computer. Selling a home involves a great deal of professionalism. Well, enough of this rant...I just had to write something about these 60 minute idiots and the jerk offs that that give a bad name to our profession.

Comments (4)

Jacob Morales - Arizona Mortgage Planner
US Bank - Scottsdale, AZ
I was truly shocked when I saw this story air. I think the backlash they are getting is going to make a significant difference, but I doubt they'll do much about it. It shocking they would have a story like that, but then again maybe it isn't.
May 14, 2007 09:37 AM
Although a guest writer talked about RealtorWives.com, I would agree with you that it's a non-event.  I've talked about it for months in the same tone as you have, but we have to remember that 1.3 million Realtors are stronger than 12 Redfin tech dorks who don't want to pay Realtor dues or follow the Code of Ethics but still want to "practice" real estate.  Hope you'll read the article!
May 14, 2007 09:39 AM
Leigh Bates
Atlantic & Pacific Real Estate - Flower Mound, TX
The Trinity Group
I didn't see, and probably glad too - the Media makes me sick most of the time... showing only the worst side of everything because it "makes a good story". I'll stick to what I know, and that I am a professional offering a professional service. I'm happy to explain that to any buyer or seller - those that can't see through why it's important, well... they probably wouldn't appreciate my services, and it wouldn't be a positive experience.
May 14, 2007 09:54 AM
Antoinette Scognamiglio, GRI, ASP
Coldwell Banker Realty - Mountain Lakes, NJ
There's no substitute for EXPERIENCE!

Hi Myles,

I anticipated the content of the segment to be ridiculous and inaccurate. 

60 Minutes ... To Be or Not To Be Accurate...That is the Question.  (Members Only)

I didn't watch as I had guests on Sunday night...just as well.  I'll read the transcript posted by another ActiveRain-er and send a note to the producers. 

The blonde's comment was a travesty to the profession and she was a brainless moron to have made such a comment.  I wonder how much she was paid to "act the role?"  I'll find out who she is and write her a note as well expressing my distain for her misrepresentation of the industry.  Good luck to her ever attaining a respectable commission in her market!

May 14, 2007 10:14 AM