LETTER: Real estate commission reform long overdue
Thank you for publishing the information regarding real estate commissions and the multiple listing service requirements (Saturday Review-Journal).
The biggest drain on either buying a home or selling a home is the real estate commissions. Any home I’ve ever sold has sold in three days — and not because of the real estate agent showing my home. It’s because of my home selling itself. When buyers enter a home, they immediately know if it is the home they want.
Agents will scoff at this because they want the commissions to continue to flow. Every agent I have hired made mistakes, which cost me dollars. One agent hired a friend to do due diligence on the condition of the home, and costly mistakes were made and overlooked by my Realtor. My agent’s response was, “Well it’s not that much.” That’s because it didn’t come out of the commission.
No agent is going to like my take on this, but, make no mistake, hiring a Realtor doesn’t necessarily sell your home to the highest bidder. Agents want you to take the first offer so they can move on to the next prize.
