Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 (Tek) 9/28/84 based on 9/17/84; site tekig5.UUCP Path: utzoo!watmath!clyde!cbosgd!ihnp4!houxm!vax135!cornell!uw-beaver!tektronix!tekig3!tekig5!johnbl From: johnbl@tekig5.UUCP (John Blankenagel) Newsgroups: net.consumers Subject: Re: Need advice on bidding on a house Message-ID: <250@tekig5.UUCP> Date: Wed, 25-Sep-85 11:42:14 EDT Article-I.D.: tekig5.250 Posted: Wed Sep 25 11:42:14 1985 Date-Received: Sat, 28-Sep-85 07:19:25 EDT References: <713@whuxl.UUCP> <1185@ihuxn.UUCP> <1109@ulysses.UUCP> Organization: Tektronix, Beaverton OR Lines: 20 > > Realtors MUST work on 7% commission (or > > 3.5% each if your realtor is not the same as the realtor the property > > is listed with), and MAY NOT kick any of it back to you. > > The required fee was held to be an illegal restraint of trade, and is > now (in principle) negotiable. But, as was pointed out, the realtor > represents the seller, and hence that figure is negotiable between the > realtor and the seller, not the buyer. If you and the seller are within > epsilon on the price, it is quite proper for the buyer to ask the realtor > about negotiating a fee reduction -- but the realtor is of course under no > obligation to do so. (Incidentally, around here the standard fee is 6%.) Here in Oregon, most (if not all) of the realtors are members of Multiple Listing Services. If a realtor does not follow the rules of the service, they are no longer allowed to be members. That means if a realtor charges less for commision to try to get more business, that realtor will have a lot of difficulty keeping from starving when they are disowned by Multiple Listing Services. Sounds a lot like a monopoly or something but I guess the politicians all own too much real estate to do anything about it.