Sunday, October 03, 2004

L.A. Times article --- comments!

Well, as you might suspect, there were letters in today's Sunday L.A. Times regarding last Sunday's L.A. Times article about rebates from agents to buyers and sellers. (Please see our blog post of Monday, September 27.)

The title of the letters section (page E7 of today's L.A. Times) is "Rebates from agents debated." One letter makes the point that a rebate is a return on funds spent. The buyer does not pay the commission, so how is the agent giving the buyer a rebate of the commission? In addition, many buyers do not buy. Yet, realtors are not paid unless the buyer actually buys a property and closes escrow. The realtor has worked for free until that point.

Another letter from a realtor feels the rebate idea cheapens the job done by a realtor, considering the initial realtor exam and required continuing eduation, plus providing the "most conscientious service" to a buyer or seller.

No doubt this subject will come up in years to come. Our only advice would be NOT to pick your realtor by whether or not you are going to get a rebate. You cannot put a (rebate) price on working with an experienced, dedicated, professional Realtor® who has your best interests in mind.

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