Barb Schlinker The Real Estate Voice

Realtor Association in the Hot Seat for Lack of TransparencySegment 1Realtor Association in the Hot Seat for Lack of TransparencyBarb, many people buying and selling real estate are often confused about how the real estate industry divides up commissions in a transaction. There has been some news about this topic lately, can you tell us about it?This started a few years ago with:Anti-trust lawsuit brought on by some Chicago home sellers about:"Why am I paying for the buyers agent to fight against me in the transaction?”This opened the investigation into the “Industry Norm and StandardSignificant Anti-Trust Law ViolationsSuit RevealedMinimum mandates of commission to buyer’s agentAgents were telling consumers:“If you DON’T offer the buyers agent X commission, they will not show it to their buyersReveal:  Buyers lack of transparency about commission offeredReveal: Some MLS Systems do NOT allow NON NAR members to input their listings (PPAR) or SHOW their listingsDOJ Anti-Trust Case Charges:a. Disclosure to