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March 17, 2006
BYOB this St. Patrick's Day to avoid bloated real estate commissions
Following feature stories about falling real estate commissions in CNNMoney and AOL, hope St. Patrick's Day 2006 is remembered as the year home buyers and sellers began to BYOB -- Bring Your Own Brokers -- and compensate them separately. Ten mega-trends suggest that the obsolete, two-sided real estate commission may be "uncoupled" or "decoupled" in 2006, fifteen years after the Consumer Federation of America first called for that reform. The blog post and 90 second video below explain why.
Why pay a flat-fee listing entry service approximately $500 to list your home in the MLS, and then undermine your potential savings by offering a "traditional" full commissions to buyer agents? If anyone is interested in experimenting with the moneysaving BYOB plan, please email us and we'll bring the booze. Watch for more details about our newest menu item: wine tastings at "for sale by owner" open houses. As always, your comments are welcome below, or recorded on our reader line for a future podcast: 617-876-2117.
Bill Wendel | 06:53 PM in Change Agents, Commission Reform, FSBO: Best Practices, RECALL: Real Estate Consumer Alliance, Unbundling the Commission | Permalink
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