This is a far-reaching and informative conversation/debate at Rain City Guide, which is worth the thirty minute read if you’re interested in this sort of thing.
(And you should be interested if you’re in or will be in the market to buy or sell a house in Charlottesville or if you’re a Realtor … times continue to change as people continue to question and challenge the archaic way by which the real estate world operates)
And here is the crux of the issue: If a broker just opens the door for a buyer, has that broker become the “procuring cause,” thus entitling that broker to the (commission)?
As the real estate industry matures in the modern, internet-based world, hopefully it will move towards a more rational way of compensating buyer’s brokers, one that compensates them for services peformed and value added, not just for “procuring” a buyer.
I’ve said time and again – my business, and hopefully the better parts of the real estate industry, will continue to shift towards representation of clients’ and their interests and away from selling.
Wow, Ardell sure can write!
Brokers fighting over money isn’t what the buyer or seller really want to hear about when buying or selling a home. But if a switch is made by a home buyer, like they discuss in their post, well the whole deal may just fall apart and then nobody wins.