Sometimes, organizations can be so stupid. By acknowledging and trying to quell a potentially damaging story they draw attention to it by their actions. So is it with the National Association of Realtors, who this week sent out a press release to its members (we’re a member of the Orange County, CA branch) about this weekend’s edition of 60 Minutes which highlights the ridiculousness of 6% sales commissions (sub req’d) for Realtors.
So to everyone reading – watch 60 Minutes! TiVo it, watch it later. Don’t let Realtors protect their precious monopoly.
My favorite part from the press release:
Bottom line is that we don’t expect that the segment will make Realtors happy but it could have been much, much worse. Be glad that it’s Mother’s Day and the show will probably draw fewer than its average 14 million viewers.
I think that some Realtors are worth the commission, just like some loan officers are, just like a small percentage of people in any service industry actually earn their fee. Most, however, have just ridden this bubble and cashed in at 3% a side on every home sale over the last few years.
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
Related posts:
Loading ...