Everything we do as agents to sell a home has become a commodity rather than a service. If sellers cannot discern the difference between us, they will naturally search for the lowest possible price. Ironically, most agents counter this argument by insisting that their level of “service” is better than the others—all the while missing […]
Fannie, Freddie Subpoenaed in Commission Lawsuit
Plaintiffs in an antitrust lawsuit that could shake up the real estate industry have subpoenaed mortgage giants Fannie Mae and Freddie Mac, sharpening scrutiny of real estate commissions nationwide. The subpoenas were issued by the smaller of two bombshell commission lawsuits filed against the National Association of Realtors and real estate franchisors Realogy, Keller Williams, RE/MAX, HomeServices […]
Taxes Tip #2: Should You Form an SCorp or LLC?
CPA Peter Baker, a principal of Business Planning Group in Washington, D.C., a firm that specializes in real estate agents and brokers, answers questions about 2018 taxes for real estate professionals and how they are effected by the new tax plan. (See Tip #1) Tax Tip #2: Most real estate professionals are sales associates […]
Is AI Your Newest Competition?
The latest “competition” that may have REALTORS® concerned is artificial intelligence (AI). Last week C.A.R.’s Center for California Real Estate convened a panel of real estate’s heavy hitters to explore how the real estate industry can adopt and embrace artificial intelligence. Moderated by C.A.R. CEO Joel Singer, the panelists discussed the challenges and opportunities that […]
The Law: All Sellers Must Sign Listing Agreement
To collect a commission for selling real estate, the statute of frauds requires the agreement to be in writing and signed by the party to be charged. This means that any seller who has not signed the listing would not be liable to pay a commission. But what if one seller represents that he or […]