The Justice Department gave internet based real estate brokers access to MLS databases previously denied to them, forcing new industry policies. These online brokers typically offer discounted commission fees, allowing buyers to review listings at their own pace. For years, Internet-based brokers have complained that the National Association of Realtors wanted to let real estate agents exclude some of their listings from their online competitors, many of whom offer discounted prices. More than 800 multiple listing services nationwide are affiliated with the Realtors group. Read the article in it’s entirety.
This seems fair to me. There will always be discount brokers; however, consumers should always be aware of the services being offered (or withheld) for the discounted commission. Some clients prefer a more “hands on approach” than others. Besides merely saving money, consumers can benefit from their internet based broker’s membership in Realtor Associations. When an agent becomes a Realtor, strict adherence to the Realtor Code of Ethics is required and enforced. This is good business for everyone involved.
Denise



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