Suzi Gravenstuk

More Empowerment for Buyers and Sellers



Posted: Monday, February 11, 2008

by Suzi Gravenstuk
http://www.suzi-gravenstuk.blogspot.com

If you plan to be in the real estate market as a buyer or seller the FTC report highlighted below is an excellent primer. You should be aware of the options that are available to you if you plan to use the assistance of a REALTOR©.

The term REALTOR© is used rather than real estate agent, because to be a member of the local MLS, an agent must also be a due paying member of the National Association of REALTORS, at least in my area.

Lets use the Mississippi Gulf Coast Multiple Listing Service for an example, since I know the facts. As of February 11th, 2008 there are 2424 agents. Each are required to be members of the National Association of REALTORS©. This year our dues of $399.00 covered national, state, and local dues. Additionally, our access fees are $30 per agent and another $30 for brokers ($60 for brokers).I have no idea how many licensees there are who are not NAR/MLS members.

In our area, it doesn't matter how many properties we list. The cost is the same. In a way, you could say that all of us pay for the privilege of everyone else being able to search REALTOR.com. So, the MLS is  free to consumers, but not free to us. It doesn't matter what kind of platform we use, we all pay the same.

However, I for one, pay the fees willingly. We receive many educational benefits and tools to assist us in providing top notch service to clients.

The FTC report emphasizes that real estate commissions vary, as do services. As a potential client of a REALTOR , or an agent who is not an MLS/NAR member you owe it to yourself to understand what you are getting for the commission you are offering. Commissions vary, as do services. As the report points out--state laws differ to some degree.

http://www.ftc.gov/reports/realestate/V050015.pdf

As noted in the report above, Mississippi does not allow rebates. Mississippi licencees have to be careful not to offer inducements. It is unlawful for us to pay a commission to an unlicensed person. We can, however, charge lower fees than what we perceive our competition to be charging. Personally, for me  the easiest, most straight forward method is to focus on what I charge for the services I offer. How could I possibly know how much I can save a client if there is not an average commission?



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Any photos used in stories are Suzi's originals and are copyrighted. Contact Suzi regarding any need for research, photos, or assignments along the Mississippi Gulf Coast (MGC), or of a virtual nature. Contact infomation through WryteStuff, or by commenting at any of her blogs. To find one of Suzi's blogs, simply search "Suzi Gravenstuk". I am immediately notified of comments and should be back in touch with you soon. Try it:-) May you be blessed!

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