(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.
(come back on 9 September to read a very relevant story about buyer broker fees)