Thursday, March 27, 2008
How Much Are Realtors Worth?
Many people don't want to pay the traditional 6% commission (3% to listing broker and 3% to selling broker) so they turn to discount brokerages in order to save a quick buck regardless of the service or competence of the agent they hire. But aren't some agents worth more than others?
If Ebby Halliday wanted to list your home, would you tell her she isn't worth 3% and ask her to reduce her commission? Would you tell Virginia Cook to take a hike because you would rather list your $1.5 million dollar home with a no-name, start up, discount real estate brokerage? Of course not.
If you list with a discount brokerage then you should expect discounted service. With all of the criticism surrounding Realtor commissions, how has no one come up with a commission structure that consumers are truly happy with after 106 years? The sad truth is that no one ever will because consumers will always be cheap and Realtors will always have a poor reputation.