Realtors
06-14-2005, 02:55 PM
#21
Senior Member
Join Date: May 2003
Location: Orange County, NY
Posts: 635
[quote name='banzaitoyota' date='Jun 14 2005, 03:51 PM']Who owned/developed MLS?
Here is the campaign link, since IT APPEARS you are clueless about what your national organization is doing:
http://realtor.org/rodesign.nsf/pages/FS_A...GN?OpenDocument
[/quote]
Clueless? No. I don't have the time to attend their conventions, but apparently my boss did. He filled me in on their benefits agenda and certain political campaigns.
That link was to a form of advertisement, sorry I still don't see why you're butt hurt over them giving us marketing tools....
FYI: As a Realtor, I am part of the NAR, OCAR (Orange County Association of Realtors), MLS, and then Keller Williams Realty.
I have a hand/stake in a lot of the local OCAR/MLS issues going on and don't spend a ton of time at Realtor.org....SORRY
Here is the campaign link, since IT APPEARS you are clueless about what your national organization is doing:
http://realtor.org/rodesign.nsf/pages/FS_A...GN?OpenDocument
[snapback]725249[/snapback]
[/quote]
Clueless? No. I don't have the time to attend their conventions, but apparently my boss did. He filled me in on their benefits agenda and certain political campaigns.
That link was to a form of advertisement, sorry I still don't see why you're butt hurt over them giving us marketing tools....
FYI: As a Realtor, I am part of the NAR, OCAR (Orange County Association of Realtors), MLS, and then Keller Williams Realty.
I have a hand/stake in a lot of the local OCAR/MLS issues going on and don't spend a ton of time at Realtor.org....SORRY
06-14-2005, 03:01 PM
#22
Super Moderator
Join Date: Jul 2002
Location: My BIG ol TURBO-DIESEL
Posts: 5,181
http://money.cnn.com/2005/04/22/real_estat...ice_realestate/
Feds probe real estate agents
Money magazine investigation shows Justice Dept. looking into anticompetitive practices.
April 22, 2005: 5:27 PM EDT
By Jon Birger, Money Magazine
NEW YORK (CNN/Money) - Did you pay your real estate broker too much? The U.S. Department of Justice may be set to turn Tulsa, Okla. into a test-case for ending the stranglehold 6 percent commissions have over the real estate brokerage business.
MONEY has learned that Justice's Antitrust Division is gathering information on the bully tactics that full-commission brokers in Tulsa allegedly use against their discount rivals to discourage commission-cutting. The probe follows other recent efforts to spur competition in the real estate industry.
According to a copy of a Justice Department subpoena obtained by MONEY, federal investigators are seeking information on "possible anticompetitive conduct in the provision of real estate services in the Tulsa area" as well as "documents related to refusal to cooperate on real estate transactions."
An Antitrust Division spokeswoman confirmed the existence of the investigation but declined to provide additional details.
Al Unser, executive director of the Greater Tulsa Association of Realtors said: "We received a CID [civil investigative demand] from the Justice Dept. and we have responded."
Economists who study real estate, such as the University of Cincinnati's Norm Miller, believe anti-competitive behavior is the primary explanation for the persistence of the 6 percent commission.
J.D. Smith and Bob Meyer are two Tulsa discount real estate agents who say they were interviewed by federal investigators. They say the investigators wanted information on full-commission agents' alleged refusal to show home-buying clients properties listed by discount brokers -- a tactic known as boycotting.
Boycotting exploits the one major weakness of the multiple listing service.
The MLS's upside is that it centralizes all homes for sale in a single electronic marketplace that can be accessed by all agents -- and these days by Web-savvy consumers as well.
The downside is that brokers must depend on one another to help sell their homes, and that discourages them from undercutting each other's commissions.
While boycotting the listings of discounters is generally considered an antitrust violation -- if undisclosed, it's also a breach of fiduciary duty to clients -- industry insiders are well aware that boycotting goes on, even if they claim not to condone it.
For Smith, the Feds' investigation comes a year or so too late. His realty business on the brink of ruin, Smith recently abandoned discount brokerage and went back to charging 6 percent. "In one week," Smith said, "I've had more showings and more offers from other realtors than I had in the previous two months."
The Tulsa investigation is part of an ongoing Antitrust Division foray into the sharp-elbowed realty world. In March, the Antitrust Division sued the Kentucky Real Estate Commission over a state law that prohibits real estate brokers from offering commission rebates to consumers.
More recently, Assistant Attorney General R. Hewitt Pate sent letters to lawmakers and regulators in Oklahoma and Texas, urging them to reject proposals that would effectively prohibit brokers from engaging in limited-service or fee-for-service realty -- such as listing a home for sale on the multiple listing service for a flat fee of $500.
Bruce Hahn, chairman of the American Homeowners Grassroots Alliance, argues that state prohibitions on rebates and fee-for-service discourage competition and inflate commissions paid by consumers. "We've talked to Justice, and we think what they're doing is tremendous," he said.
Feds probe real estate agents
Money magazine investigation shows Justice Dept. looking into anticompetitive practices.
April 22, 2005: 5:27 PM EDT
By Jon Birger, Money Magazine
NEW YORK (CNN/Money) - Did you pay your real estate broker too much? The U.S. Department of Justice may be set to turn Tulsa, Okla. into a test-case for ending the stranglehold 6 percent commissions have over the real estate brokerage business.
MONEY has learned that Justice's Antitrust Division is gathering information on the bully tactics that full-commission brokers in Tulsa allegedly use against their discount rivals to discourage commission-cutting. The probe follows other recent efforts to spur competition in the real estate industry.
According to a copy of a Justice Department subpoena obtained by MONEY, federal investigators are seeking information on "possible anticompetitive conduct in the provision of real estate services in the Tulsa area" as well as "documents related to refusal to cooperate on real estate transactions."
An Antitrust Division spokeswoman confirmed the existence of the investigation but declined to provide additional details.
Al Unser, executive director of the Greater Tulsa Association of Realtors said: "We received a CID [civil investigative demand] from the Justice Dept. and we have responded."
Economists who study real estate, such as the University of Cincinnati's Norm Miller, believe anti-competitive behavior is the primary explanation for the persistence of the 6 percent commission.
J.D. Smith and Bob Meyer are two Tulsa discount real estate agents who say they were interviewed by federal investigators. They say the investigators wanted information on full-commission agents' alleged refusal to show home-buying clients properties listed by discount brokers -- a tactic known as boycotting.
Boycotting exploits the one major weakness of the multiple listing service.
The MLS's upside is that it centralizes all homes for sale in a single electronic marketplace that can be accessed by all agents -- and these days by Web-savvy consumers as well.
The downside is that brokers must depend on one another to help sell their homes, and that discourages them from undercutting each other's commissions.
While boycotting the listings of discounters is generally considered an antitrust violation -- if undisclosed, it's also a breach of fiduciary duty to clients -- industry insiders are well aware that boycotting goes on, even if they claim not to condone it.
For Smith, the Feds' investigation comes a year or so too late. His realty business on the brink of ruin, Smith recently abandoned discount brokerage and went back to charging 6 percent. "In one week," Smith said, "I've had more showings and more offers from other realtors than I had in the previous two months."
The Tulsa investigation is part of an ongoing Antitrust Division foray into the sharp-elbowed realty world. In March, the Antitrust Division sued the Kentucky Real Estate Commission over a state law that prohibits real estate brokers from offering commission rebates to consumers.
More recently, Assistant Attorney General R. Hewitt Pate sent letters to lawmakers and regulators in Oklahoma and Texas, urging them to reject proposals that would effectively prohibit brokers from engaging in limited-service or fee-for-service realty -- such as listing a home for sale on the multiple listing service for a flat fee of $500.
Bruce Hahn, chairman of the American Homeowners Grassroots Alliance, argues that state prohibitions on rebates and fee-for-service discourage competition and inflate commissions paid by consumers. "We've talked to Justice, and we think what they're doing is tremendous," he said.
06-14-2005, 03:04 PM
#23
Senior Member
Join Date: May 2003
Location: Orange County, NY
Posts: 635
Wow, banzai, ya don't say?
Keeping low-listing % companies out is illegal?
Sharing commission rate ideas and trying to raise commission percentages wrong?
Thanks. I'm glad the gov't is investigating BAD AND ILLEGAL real estate practices no matter if its by a realtor or an attorney.
Keeping low-listing % companies out is illegal?
Sharing commission rate ideas and trying to raise commission percentages wrong?
06-14-2005, 03:05 PM
#24
Super Moderator
Join Date: Jul 2002
Location: My BIG ol TURBO-DIESEL
Posts: 5,181
Clark Howard's Tips
Justice Dept. suing realtors for anti-trust
May 25, 2005
The National Association of Realtors has been in a conspiracy to price fix the cost of real estate and agent commissions for years.
For everyone thinking about buying or selling a home, you need to know about this.
<span style='font-size:21pt;line-height:100%'>The NAR is trying to make it impossible for consumers to participate in online real estate databases used by agents who are willing to take a discounted commission.
The association is trying to basically get rid of agents who will not agree upfront to charge anything for full commission. </span>
This is a horrible injustice and breech of trust.
To that end, the U.S. Justice Department is getting ready to sue the NAR for anti-trust violations, and Clark says it is way overdue.
Consumers should decide what commission they are willing to pay and what level of service they want when buying or selling real estate.
If the real estate industry is able to price fix, who knows which industry will be next.
The deadline for this initiative is this summer, so pay attention!
Justice Dept. suing realtors for anti-trust
May 25, 2005
The National Association of Realtors has been in a conspiracy to price fix the cost of real estate and agent commissions for years.
For everyone thinking about buying or selling a home, you need to know about this.
<span style='font-size:21pt;line-height:100%'>The NAR is trying to make it impossible for consumers to participate in online real estate databases used by agents who are willing to take a discounted commission.
The association is trying to basically get rid of agents who will not agree upfront to charge anything for full commission. </span>
This is a horrible injustice and breech of trust.
To that end, the U.S. Justice Department is getting ready to sue the NAR for anti-trust violations, and Clark says it is way overdue.
Consumers should decide what commission they are willing to pay and what level of service they want when buying or selling real estate.
If the real estate industry is able to price fix, who knows which industry will be next.
The deadline for this initiative is this summer, so pay attention!
06-14-2005, 03:10 PM
#25
Senior Member
Join Date: May 2003
Location: Orange County, NY
Posts: 635
NAR hasn't pressured me or my boss to list for 3 , 4 or 6%
I don't know where they are getting this figure, since in orange county (Or new york, rather) the new average has been 4% commissions for a while, especially because of discounted (2-3% but with limited services).
I don't know where they are getting this figure, since in orange county (Or new york, rather) the new average has been 4% commissions for a while, especially because of discounted (2-3% but with limited services).
06-14-2005, 03:18 PM
#26
Senior Member
Join Date: May 2003
Location: Orange County, NY
Posts: 635
If these allegations are true, it certainly comes out of a desire of NAR to protect it's agents (ALL REALTORS) which comes out of pressure from other realtors themselves.
But they have NO say in how much I list a home for, which is totally up to agreement by me and the seller.
Oh well
But they have NO say in how much I list a home for, which is totally up to agreement by me and the seller.
Oh well
06-14-2005, 03:42 PM
#28
Senior Member
Join Date: May 2003
Location: Orange County, NY
Posts: 635
[quote name='banzaitoyota' date='Jun 14 2005, 04:26 PM']Comes out of a desire for NAR to eliminate competition and not let the consumer have freedom of choice. What a wonderful organization to pay your money to!
[/quote]
LOL I have no choice if I wanted to do "real estate". Do you pay taxes? Is our Gov't fool proof and completely clean?
Werd. I gg
[snapback]725273[/snapback]
[/quote]
LOL I have no choice if I wanted to do "real estate". Do you pay taxes? Is our Gov't fool proof and completely clean?
Werd. I gg
06-14-2005, 04:30 PM
#29
Super Moderator
Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
I ******* hate realtors, most of them are full of ****
"Hi im looking for a house in $$$$price range"
realtor:"chuckles, I have 30 people looking for houses in that price range"
"ok, bye"
realtor: you dont want to come in and tell me what you want?
nope, you already said you have 30 people waiting.
they always give you that line of ****, that and when you make a offer to someone they give you some bullshit line like "Oh, they wont go THAT low"
someone asking $275,000 and offering $260,000 isnt THAT low of a offer!
they play games and rank right up there with mattress salesmen
"Hi im looking for a house in $$$$price range"
realtor:"chuckles, I have 30 people looking for houses in that price range"
"ok, bye"
realtor: you dont want to come in and tell me what you want?
nope, you already said you have 30 people waiting.
they always give you that line of ****, that and when you make a offer to someone they give you some bullshit line like "Oh, they wont go THAT low"
someone asking $275,000 and offering $260,000 isnt THAT low of a offer!
they play games and rank right up there with mattress salesmen
06-14-2005, 04:41 PM
#30
Administrator
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
My realtor fucked me good, she knew she had the advantage of me being 3500 miles away and used it. What rob is said is something I've heard from every realtor I have ever spoken too, certainly there are exceptions, like all strippers aren't *****s and all catholic priests are molesters (ha ha ok that might have been pushing it)