Advocate for transparency in the real estate industry
Shouldn't this really be about the consumer? Do you think sellers would appreciate their listing agent holding back promotion of their property? Doesn't the listing agent take a large commission in most cases because he's going to share it with a buyers agent? Something is wrong with this picture!
Come on Doug - How can you say there are no barriers to alternative business models and that federal and state governments should not vigorously police industry antitrust behavior that restricts innovation. Right now in 20 states there are either anti rebate or minimum service laws in place that restrict the purchase of unbundled real estate services and help keep commissions artificially inflated. Try to tell the consumer why it is not in there best interest to be able to receive a rebate at settlement and why they should have to pay thousands of dollars for the performance of menial tasks even if they are willing to take on a portion of the work themselves.
I do not understand why buyers are willing to pay outrageous title insurence fees when 70% of the cost is a commission to the settlement attorney. Probably due to a lack of transparency in the sale of this product/service.
