I’m amazed that anyone read anything negative into Bill’s original blog. Having been the buyer of a number of homes, and using a buyer’s agent on most of those occasions, I don’t question the ethics of buyers agents. I do, however, completely agree that the standard commission scenario absolutely does not favor the buyer. I fully agree with Tom Hayman’s idea, and have used it successfully myself, that buyer’s agents be offered a percentage of the SAVINGS they can negotiate for me off the original sale price – in addition to the standard half of the commission they would normally get from the seller. Most of us buyers who don’t agree with the standard commission structure for buyer’s agents don’t have any ill-will or doubts about the agents ethics, nor do we necessarily want them to make less money on a transaction. I didn’t read anything from Bill’s question regarding lowering an agent’s commission or questioning ethics. At the end of the day, most agents I’ve dealt with will certainly try to get me a good price. However, at the end of they day they need to feed their families as well – so how far they might “go to the mat” for me in terms of pushing for a lower price or concessions does have a limit. I love being able to offer my buyer’s agents a percentage of the “decrease from original sale price” (as well as them keep their share of the standard commission) and then watch them REALLY get aggressive with negotiations – as well as make more money than they would have under just the standard agreement. Win-win for both of us!

absolutely!! When I talked to my realestate agent I told him he was going to have to give me 1% back. I searched for the house. All he had to do was open the door to earn 5 gs.

Becoming a realtor in most cases is not voluntary by any means, I personally think as an agent your held hostage to it.

What's the #1 tool any agent needs to be an effective agent? MLS membership

What is usually a rule to become a member of every mls I've ever seen?
You need to be a realtor in good standing, meaning you're a member who has paid your dues!

The curious thing is I see that usually at least in New Jersey, most of the local realtor organizations have some sort of ownership stake in the MLS's. Too bad the realtor organization themselves don't hold themselves to the same standard they expect their members to, I would call that an extreme conflict of interest.

Another rule, never talk negatively about NAR or other realtors. I can understand that as just being respectful and good business not to always talk bad about the competition but as a rule for membership not to speak negatively about your organization even if there is something negative to say only is for the benefit of the organization and not those who are being affected by the bad thing kept in silence whatever that may or may not be.

I've got a million rants, like who has a partial or wholly undisclosed ownership stake in many real estate technology and marketing companies which is pushed constantly by NAR… hmmm… I'll let you take a stab at that one.

The realtor code of ethics is good in conceptual theory, however when you make it necessary for everyone to be a member and the local level office rather not make waves with other realtors and lose membership and instead focus more on just the dues and fines for listing paperwork being late or whatever over problems with unethical realtors, the whole concept can make one extremely skeptical.

I've encountered plenty of situations with employed brokers refused to release mls membership stock back to the company they used to work for or taking listings with them when they leave to listing agents refusing to allow another agent to present an offer or even give the name of the sellers attorney so we can submit an offer to for fair consideration because they may have their own offers already. This stuff happens every day and the local NAR branches refuse to get involved unless you file an official complaint with the real estate commission which at that point you wouldn't need them anyway.

While NAR does a lot of good with legislative action committees and providing a lot of useful info on the realtor.org site for agents, I think paying national dues to NAR, regional dues to the state branch and then dues to a local county branch all being required is a bit overkill seeing what you get in return.

I think there was a time and place for NAR and perhaps for some things it is still a useful organization but in the end find it an additional un-needed expense.

My state recently enacted making buyer rebates legal however NAR fought it ever step of the way and now with it becoming law anyway to allow them, they are doing their best to make it difficult for those agencies wishing to make those offerings.

Exampe: They help legislate the rules on the newly enacted law such as advertising these offers. You need to post a paragraph long disclosure which must have the text the same size or larger than the text used in the headline of the offer your making, that is counter productive and kind of defeats the purpose of a headline to attract attention of the offer your making.

ugg… frastrated and tired at nearly midnight, I'm going home after another long day.

good pointers i should take note of these

Valuable information and excellent website you got here! Your blog is great for anyone who wants to understand this subject more. Attractive section of content. Besides the blog just being awesome, this page is too sweet! This blog is fantastic