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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (14503)	10/24/2003 4:17:00 PM
From: bozwood	Respond to of 306849

Thanks

To: ild who wrote (14503)	10/24/2003 5:59:34 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Thanks, ild. Very interesting and similar to what I read in Wash Post a while back. I notice this story, like others which have been written by major media, can only seem to focus on how change will "cut into or reduce agents' commissions." That's getting old and very stale. I'd like to know how many people in the U.S. have seriously worked with a web-based real estate company to buy or sell a home, and how many would even entertain the idea. Also, how many buyers and sellers actually work with the so-called "discount" brokers located on street corners already, who actually know the market and have at least joined the MLS and local, state and national Realtor associations. THAT would be the story to publish. Varying commission rates are available everywhere. Members of USAA and other organizations are entitled to rebates for real estate services, as just one example. Very puzzling why the media skip over the complexities and only focus on what they assume their readers want to hear--real estate services to go on sale soon....stay tuned for film at ll.

To: ild who wrote (14503)	10/25/2003 11:59:35 AM
From: MJ	Read Replies (2) \| Respond to of 306849

Go to the Yahoo site on Sotheby's and read the full story there on the agreement to price fix between Sotheby's and Christie's------. Is price fixing in the real estate industry any different???? Seems that is more of the same ilk. I pose a question--------is it truly worth 6% of gross sales price to sell a property in 2 months time. 6% doesn't seem like a lot in the lower price range------but then go to an area like the Wash metro area------a 6% on a house of $500,000(if you can find one) and over is substantial. 6% of 800,000 is 48,000----quite a hit imo. Now assume that the agent sells 4 homes at $800,000 in a month. This is almost a cool $200,000.00 because of set commisions-----3% to the buyers agent and 3% to the sellers agent. Translated to a year-------that is $2.400,000.00. mj