I don’t think it’s in America’s best interest that companies like Zillow are allowed to infiltrate our industry and decimate it from the inside or pollute the airwaves with lies or worse yet use their corporate cash to litigate our beloved industry into oblivion.
About 10 years ago I asked multiple lenders if there was any way my buyers could pay me directly the buyer broker commission instead of the seller. What brought this up where’s some for sale by owners who didn’t care if I was representing them but refused to pay me a commission.
Not one lender, wholesale or retail, will allow the commission to be added on top of the sales price or the loan amount. They didn’t care that the sales price would then be lower and adding half the commission back in would bring it to market value, not one lender retail or wholesale is willing to allow the buyer’s commission to be added on.
So until this is changed it is impossible to have buyers pay their own commission.
Also, here in CA buyers know the commission the agent is making, it’s on all pre-closing and closing documents. We use escrow companies, not attorneys.
Time to dump our MLS Associations, list and advertise on our own. Then, when someone wants information about our listings, they will have to call us directly. PROBLEM SOLVED!!!!!
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I don’t think it’s in America’s best interest that companies like Zillow are allowed to infiltrate our industry and decimate it from the inside or pollute the airwaves with lies or worse yet use their corporate cash to litigate our beloved industry into oblivion.
If you scroll down below comments the link is live there.
Let’s all sign that petition, and how many have signed it?
Clicking,nothing
About 10 years ago I asked multiple lenders if there was any way my buyers could pay me directly the buyer broker commission instead of the seller. What brought this up where’s some for sale by owners who didn’t care if I was representing them but refused to pay me a commission.
Not one lender, wholesale or retail, will allow the commission to be added on top of the sales price or the loan amount. They didn’t care that the sales price would then be lower and adding half the commission back in would bring it to market value, not one lender retail or wholesale is willing to allow the buyer’s commission to be added on.
So until this is changed it is impossible to have buyers pay their own commission.
Also, here in CA buyers know the commission the agent is making, it’s on all pre-closing and closing documents. We use escrow companies, not attorneys.
Time to dump our MLS Associations, list and advertise on our own. Then, when someone wants information about our listings, they will have to call us directly. PROBLEM SOLVED!!!!!