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Realtor Association in the Hot Seat for Lack of TransparencySegment 1Realtor Association in the Hot Seat for Lack of TransparencyBarb, many people buying and selling real estate are often confused about how the real estate industry divides up commissions in a transaction. There has been some news about this topic lately, can you tell us about it?This started a few years ago with:Anti-trust lawsuit brought on by some Chicago home sellers about:"Why am I paying for the buyers agent to fight against me in the transaction?”This opened the investigation into the “Industry Norm and StandardSignificant Anti-Trust Law ViolationsSuit RevealedMinimum mandates of commission to buyer’s agentAgents were telling consumers:“If you DON’T offer the buyers agent X commission, they will not show it to their buyersReveal: Buyers lack of transparency about commission offeredReveal: Some MLS Systems do NOT allow NON NAR members to input their listings (PPAR) or SHOW their listingsDOJ Anti-Trust Case Charges:a. Disclosure to consumers about buyer broker commissionb. Mis-representation to buyers that co-commission is FREEd. DOJ Anti-Trust Case Discrimination Charges:e. Agents can filter homes in the system by amount of commission offeredf. MLS limited lock box access to local members onlyREX Factor:Off Market – Own MLS Shunned by NAR & ZZillow Factor:Owns Your Contact Info Thru Showing TimeSwiping Listings from Agents offers MORE Than Market ValueThen Flipping for a LOSS??/Different Methods & Costs of Selling a HomeTraditional Listing:Pros:Access to a majority of buyersInternational Web ExposureCons:MLS Makes your Home Generic Its Value is Compared to other homesBenefits of your home may not be identified by average agentsPressure from outside agents to reduce price to give concessionsWe Provide a Wide Range of Services to Help Home Sellers and Buyers Make Their Next MoveWhat to Do to Get ReadyWhat NOT to Do to Get ReadyHow We Give You ACCESS to ALL The BuyersWorld Class Marketing That Attracts Best BuyersWhat Your Home Will Sell ForHow Much You Will Put in Your PocketIf You are Thinking of Moving? call us My Name is Barb Schlinker (spell it) Call 719 301 3900 or visit: https://www.BarbHasTheBuyers.comYou are listening to the Real Estate Voice with myself Barb Schlinker of Your Home Sold Guaranteed Realty, if you are interested in selling your and want to call Barb give her a call at 719 301 3900 We are talking Barb a legal battle between the Department of Justice and the National Association of Realtors over Anti-Trust violations that could change the industry. What are some things our listeners need to watch out for when thinking of making a move?The buyers don’t really know the NAR members work.They See a Home OnlineThey think they are getting the listing agentThey get some randon agent who found YOU onlineFirst meeting AT the HouseCommission Typically Paid From Seller’s Proceeds EXCEPTTypically built into sales priceA Portion of the the commission seller is paying isOffered to NON Listing Agents who may bring buyerDesigned that way so commission is paid out of the financingMost people don’t really know how commission works.Some agents resist showing homes that don’t offer a commission in which they want (eg 3.0%)My Team Knows HOW to Negotiate on Your Behalf!We offer our buyers: Insider Access to Homes NOT Online as well asAccess to ALL the homes from all the real estate companiesWhat would Buyers think if they knew agents are giving them access to homes they already have access to?What Can Home Buyers Do to Ensure They Get Access to ALL the Homes in Their Criteria?1. Ask the Right Questions2. Ask for Access to all th