I am the founder of Forsalebyweb.com. Change in the industry has been met with resistance. Yet, cumulatively, the current mortgage market, slow sales, hybrid commission models and rise in web-based companies will create dynamic changes as the industry
re-invents itself.
The next few years will bring new ideas and innovation to an industry where all that is needed is consumer acceptance.
This statement from Bill sums up well... >>>>>>>>>To which I would respond that the basis of that model was never about technology - it was always about business risk, economy of scale, and more importantly professional synergy, broker assistance, support and supervision .>>>>>>>>> I might add, consumers -- too -- will be assessing risks when hiring non-productive agents that lock them into listing contracts. The outcome will include new models that shift accountability to the agent/broker when houses don't sell as promised. The industry must balance business risks with customer service accountability. Sol P. Sek CEO/Founder http://www.forsalebyweb.com
Brokers should be able to charge as high/as low as they wish. I COMPLETELY AGREE. The disservice I see in the industry today is when agents ask sellers to drop their price, yet refuse to drop their commission to make up for lost time and lost buyers. "I WILL NOT DROP MY PRICE UNLESS YOU DROP YOUR COMMISSION" is what we will hear in the coming days. It's true that commission contingency is a risk that agents take and ought to be rewarded accordingly, yet asking sellers to drop thier price at a later date is a risk that sellers obsorb in this market. They may have passed up many buyers due to the incorrect pricing. Just something to consider when assuming that agents are the ones taking the risk, alone. Sol P. Sek CEO/Founder, Forsalebyweb.com Where You Name Your House Values!
When the market was easy anybody could claim "With my experience and value I deserve a full service commission". Consumers didn't care because their houses were selling and people were depositing closing checks faster than they could realize the commission paid. Apparently the market has proven that this is not the case when ít's slow. It's an embarrassment to the industry that the only solution the public can expect from agents is a price discount. Let's admit the fact, consumers have no idea what their house is worth in today's market- And agents can't come up with reliable comps. To jump to conclusion and guess asking prices and force people to drop 10% of their price is admission of LIES. When consumers are encouraged to drop their price by 10%, I hope the agents have the decency to drop their commission as well since sellers can pass up many ( if not most ) of their buyers due to incorrect pricing. Sol P. Sek CEO/Founder, Forsalebyweb.com Where You Name Your House Values!
