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Nov 29, 2006 -- Realtors now tampering with MLS listings

The National Association of Realtors is at it again. The NAR is trying to establish fixed commissions, despite the fact that they are against the law. The organization is trying to use the Multiple Listing Service (MLS) to keep business from the discount realtors. NAR reps are actually delisting the discount realtor listings from this site. The average real estate commission in the U.S. has dropped to 5 percent. And realtors are terrified that what happened in the travel agency business is going to happen to them. So, they are trying to stop the clock from marching forward by tampering with the listings. The U.S. Justice Department has already filed suit against the NAR for another issue. They will most likely jump on this one too. It’s simply wrong and should be against the law. People should be able to use any kind of broker they would like. Clark uses a full-commissioned broker because he believes she’s worth it. But a discount broker who offers fewer services might work for you. The industry is morphing, and part of that is due to Foxtons, the full-service agency that only charges 3 percent commission. The company is only in the Northeast right now, but it’s growing like wildfire. So, the NAR is not going to succeed with this mission no matter what.

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What others are saying

  • Real estate
    This Foxtons you speak of that is growing like wildfire has filed Chapter 11 and is no longer selling real estate. I just closed a home with a full service agent through a 'discount' company and thank God I had a pro! The discount company dropped the ball numerous times and my agent negotiated rings around the 'discount agent'. I know the seller feels he 'saved the commission' but lost enourmous through the negotiations.
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