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

To: microhoogle! who wrote (21203)	6/2/2004 5:20:31 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<Brokers did zero work except to show up at the contract signing>> That is very odd. Maybe things are different where you are, but builders in my area won't pay a commission to any agent who isn't physically present when the buyer first visits the property or new-homes site. In fact, we always had to go thru a ritual of formally registering a buyer with the builder on a form provided by the builder (a copy of which was always held in my personal file to prove I did it and make sure I got paid under the "procuring cause of sale" requirement). I assume builders would be even more strict about this registration process during an ultra-hot market, when they already have more buyers than they can handle without any help from real estate agents. (Builders will be sucking up to agents again someday if things slow down, of course.) If a buyer wants to drag his own agent into a relationship he has already established with a builder or the builder's sales rep, he has to really put his foot down and insist that his own agent represent him in the purchase. Not always easy. Regarding your comment about making up your RE class and license costs in one partial commission paid when buying your own home--That sounds odd, too. You don't just get a license handed to you by the state. It has to be sent by the state to a broker, and right off the bat, you will be required to pay dues to NAR plus the state and local Realtor associations, pay MLS fees and lockbox costs, purchase errors/omissions insurance, and foot the bill for other items, as required by the broker. If all you want to do with your license is earn approximately a 1.5-percent commission on the purchase of your own home, you'd have to do your own math and figure out if all that is worth it.