A Crusade For Competition (washingtonpost.com):
The Department of Justice has two blunt warnings for the American home real estate establishment:
â€¢ Do not block efforts to save consumers money through rebates of real estate commissions.
â€¢ Do not stand in the way of discount â€œfee-for-serviceâ€ firms that will list sellers’ properties for a fixed-dollar amount but not perform all the traditional brokerage services, such as holding open houses or advising on buyers’ offers.
I saw this the other day with some buyers; they asked why a property had been on the market for longer than the competing homes. I speculated that perhaps it was the lower Buyer-Broker fee being offered. It is common sense that properties that are offering less may be shown less often. However, when working as an Exclusive Buyer’s Agent, it is that Agent’s duty to show ALL homes that may fit, FSBO’s, lower fee properties, etc. Simple. Honest. Easy.