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Commissions

February 19, 2009

I just came back from our realtor caravan. Out of the 9 homes we saw, only 2 were priced anywhere near correctly for this market. One of the homes is a short sale that is about 100,000 overpriced, that was interesting. Anyway, nothing unusual there. What really bothered me is a sign in front of a real estate company, a national company, sellers fee 3.89% for Jan, Feb and March. I had not noticed this sign before, it is on the main route thru town. Not that they have all the listings, however that attitude just really floors me. They will put them out at 2% or less, sometimes actually splitting that commission in half. I do not look at the commissions when I am pulling homes for my buyers. I have signed a buyers agreement with my clients, no where in this agreement does it say I will do my due diligence to find you a home that has an acceptable commission split for myself. Hey, if I don’t like it, I can make up the difference with my buyers (I have not done that yet). Just burns me at a time when we should be sticking together that the plan of most of these larger companies is to put the rest of us out of business. Fighting this reduced commission with a potential listing is difficult when home prices are already depressed. Can you blame the homeowner for taking them up on the deal?

A few months back I was getting ready to list a luxury property, the seller had something personal come up and decided not to sell at this time. 2 agents called him, telling him they had buyers and could they come over with the buyers (both agents from boutique companies). After they showed, surprise surprise, the buyers loved the house but…. both also actually told him that if they didn’t have the listing they would not show the house. How professional.

GRRRRRRRRRRR.

OK, that is it. Just wanted to vent. Thanks for listening.

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