what you've said on the internet about Commission is there forever, forever, forever

By
Real Estate Broker with Coldwell Banker Residential

Many times, over the last few years, in my experiences on Trulia and Zillow, someone will ask the question of we Realtors "What's the standard commission in your area?"

Most of the time, good agents jump in and state: "There is no 'standard', real estate commissions are negotiable"... and go on to expound on the value of finding a good Realtor, and not allowing the commission to be your largest criteria in selecting a Realtor. We can go into more of that, but that's a different post than this one.

Almost without fail, at some point or another on that thread, some idiot Realtor will say... "standard commissions in our area are 6%, but I'll do it for 5%, call me!!" or "everyone in our area charges 5%".  A few of us will try to explain to them that even the discussion of commission amounts, in public (and social media IS public) is a violation of Sherman anti-trust laws, and we inevitably get into a heated discussion over whether indeed that's true or not.  In some of those conversations, I've been told by Realtors who've been in the business for a long time (so, what I'm saying there is ... not some "newbie")... that I don't know what I'm talking about... that we're just talkin' in generalities... and there's nothing wrong with that.

One agent went so far as to tell me that he'd been playing in the Sherman Anti-trust sandbox for 32 years, and he knew it better than I did...so basically shut-yer-pie-hole.

Well, in a fairly recent "thread that wouldn't die", we had that same hackneyed conversation (deja vu, deja vu, deja vu vu).  But this time, one of the Trulia regulars (a non-Realtor) decided that he would find out the truth, and sent a copy of the conversation off to a Washington advocacy group.  They, in turn, turned it over to the Department of Justice, who contacted him by phone, confirmed that it was an illegal discussion, and asked a lot of pointed questions... (including the url for the conversation) and are now monitoring.

I imagine there will be handful of interesting phone calls to managing brokers.  What you say on a social media website, especially as a professional Realtor, is there forever (and ever and ever)... make sure that what you say is correct, and legal.

Posted by

 ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

Do not copy the content of this blog, without first contacting the author for permission. 
Reblogging IS allowed. All other use is strictly prohibited without express permission from me.

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Re-Bloggged 5 times:

Re-Blogged By Re-Blogged At
  1. Sybil Campbell 11/26/2009 07:49 PM
  2. Michael Dougherty Doris Prenninger 11/27/2009 08:58 AM
  3. Mark Rienzie 11/27/2009 10:19 AM
  4. Dana Devine 12/11/2009 07:49 AM
  5. Daniel H. Fisher 09/16/2011 10:35 AM
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Topic:
ActiveRain Community
Groups:
Diary of a Realtor
M.A.N.C.R.O.W
Realtors®
The Vent
"Whacked"!!!
Tags:
commission

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Ambassador
958,167
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Chris - it surely was one of the good ones.

September 06, 2010 04:39 PM
Rainmaker
137,026
Aida Pinto
Real Estate Broker (562) 916-3237
United Associated Brokers

"the discussion of commission amounts, in public (and social media IS public) is a violation of Sherman anti-trust laws"  Thanks for reminding us....I found your post because someone reblog it and I'm glad he did.

September 16, 2011 10:52 AM
Ambassador
958,167
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Aida - I'm glad he did, too.

September 16, 2011 10:58 AM
Rainer
5,327
Thomas Preston
Exclusive Agents Realty Inc

I think we should all stop talking about commission and go out get us some, Whos with me on that ?

October 27, 2011 10:32 AM
Ambassador
958,167
Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Thomas - you go ahead... we'll be along shortly.

October 27, 2011 10:44 AM
Anonymous
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Alan May

Evanston & Northshore of Chicago real estate
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