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Traditional Realtors VS Discounters

By: Able Appanti

With more and more home sellers trying to save up portions of the commissions they are supposed to give real estate agents, traditional realtors are threatened. Discount brokers, who can offer selected services for cheaper rates, are getting more and more clients.

The Association of Realtors has rallied for immediate and appropriate state rules to bar these discounters or a la carte agents from the market. They have lobbied for the full-services package as traditionally offered. The realtor groups were successful in lobbying for laws to protect full-services realtors in around ten states.

They have argued that this is primarily to protect the interest of sellers who are not very familiar in home selling negotiations. Some run into problems before they seek all the professional help they need.

In areas with laws enforcing full-services among realtors, discounters have gone out of business or have raised their rates to cover up for additional services offered.

Last year, the heated battle between traditional real estate agents and discounters resulted in discounters’ limited access to Realtors’ Multiple Listing Service. But the realtors have since then tried to strengthen their hold on the market. Discounters are posing serious threats.

Discounters, the Justice Department and Federal Trade Commission are working against such laws. They have argued that the traditional real estate agents are not protecting the sellers. They are only protecting their commission. FTC is bent on announcing an enforcement action against a regional MLS for the restrictions it has posed for discounters.

The discounters and their allies are not giving up on their fight to continue their services to the sellers who prefer them. Some have pointed out that there has actually no evidence of sellers who run into serious problems for choosing discounted services.

Federal regulators are firm that traditional agents are just killing competition to protect their commission shares. FTC insists on fair opportunity for both traditional and discounted brokers in the market. The consumers can just pick what suits them best.

Article Source: Main Articles

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