Oregon Mortgages

NAR Strikes Back

Well as many of you know CBS aired a segment that really attacked Real Estate Agents. CBS interviewed a “discount brokerage” CEO which I won’t even do the justice of naming. he attacked the Real Estate Industry as a whole. In short they attacked the NAR and Agents while the NAR on 2 occasions offered to have a representative there to at least give a statement for their side. They were not given that opportunity. The CEO said “by far the most screwed up industry in America.” He was referring to the home prices going up over the years and the real estate commissions staying the same.

Yes they do charge a % of the sale which is fair in most peoples opinions. Will all people be happy with it? No. Can we satisfy everyone in this world? no. This is how the real estate market has been for years so why all of a sudden change it? Yes some agents make a good deal of money. But they also get their clients top dollar when selling their home and those people REFER their friends and family to them. Obviously they weren’t to broken up about paying 5 or 6% in commissions if they are referring other people to them.

I’m a Mortgage Consultant and 95% of my business is from referrals. I charge less of a fee than an agent (Mine range from 1-2% of the sales price) If we are receiving most of our business from referrals our clients seem to be pretty happy with the transaction.

Back to the real estate portion. I don’t think I would want to use some internet company (we saw what happen to the dot com boom) that provides the service at a discount and handles as many as 8 (the CEO stated this) transactions or more PER WEEK. That sounds pretty busy for an agent to actually help me negotiate the best price. I think I’m going to do some research on this company and give my run down on it.