Thoughts on L.A. Times article
Sunday's L.A. Times Real Estate section featured a front page article titled "Like it? It's from my agent". The article details alternative compensation to real estate agents from sellers AND buyers.
The article describes rebates from agents to sellers and buyers, as well as compensation to real estate agents on other than a commission basis. The article contends "But an increasing number of agents and brokers are competing with one another by experimenting with rebates, hourly rates and flat fees as alternatives to the 5% to 6% commission typically charged."
It's quite an interesting concept, from a realtor's point of view as well as from the client's point of view.
Several issues to consider:
1. Amount of legwork performed by client and agent
2. Amount of paperwork performed by client and agent
3. Negotiating of contract and contingencies
4. Legal liability of client and agent
5. Amount of money paid for services rendered
7. Multiple Listing Service listing
8. Experience of agent and client
While we will not debate the issue in this forum, we would be happy to post your comments and feelings. Let us know what you think, and we will post comments on our blog. Send us an email. We will post your comment, first name and city.
To read the article online, go here. It's online now, but may go in the "archives" soon.