Jul 26, 2004 -- Choose what level of service you want from agents
Clark has hoped for a long time that the traditional real estate industry ceases to exist. He doesn't think people should have just two choices when it comes to buying or selling a home: getting a fully-commissioned real estate agent or doing it yoursel. There has been no in between for many, many years despite efforts of forward thinking companies. The good news is that there are people in the real estate industry who want things to change, too. Daniel Ruben, an agent, deducts two-thirds of his commission to customers who choose limited services from him instead of the full deal. He's basically a broker for agents who are willing to take a reduced commission in exchange for providing fewer services. Similar efforts have been made in New York City where Foxton's, a British company, has blossomed. Agents get about two percent commission compared to the regular 6 or 7 percent. Customers basically get to choose what level of service they want, and Clark loves it.
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