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An alternative to interbroker compensation

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This is part two of a three-part series discussing important issues organized real estate is facing and possible strategies for resolving them. The author argues that interbroker compensation should be done away with and in part one explains why this should be done right away. Part two will discuss how the world will work without interbroker compensation; and part three will look at the future of the MLS in that world. (Read Part 1 and Part 3.) "Lack of money is the root of all evil." - George Bernard Shaw (1856-1950) Real estate brokers surely will not want to see the end of interbroker compensation if it means brokers will not be paid for providing services to buyers. The first order for one envisioning a world without MLS offers of compensation must therefore be making sure brokers get paid for their services. After we propose ways for that to happen, we'll talk about some of the advantages to the consumer of getting rid of the offer of compensation through MLS. Inte...