Down Market Realities
Realtors would never have agreed to sharing commissions in a strong market. But in a moribund housing market, realtors have come to realize that working with discount brokers is not such a bad idea. Realtors will not block the discount brokers' access to the Multiple Listing Service (MLS). On the surface, this is good for consumers, but of course my jaundiced view is that traditional realtors will somehow co-opt the discounters and commissions will not drop that much. Commissions are high and many realtors don't do work commensurate with the level of compensation, but many realtors discount their commission if asked. If the new sharing helps start transactions, then it is a good thing. The justice department should be looking at all the additional fees charged with getting a loan and buying a home. These are the fees that annoy me.