U.S. may sue Realtors on commissions

CNN ^ | May 9, 2005: 6:38 AM EDT | CNN

[tubebender]

I use this attorney even when I buy a property through a Realtor and I never buy from the listing broker. I use a buyers broker to represent my interest not the sellers in these cases...

[Maceman]

I don't get why everyone seems to think I am in favor of mandates. All I said was that I think real estate brokers earn their usual 6% commission. I certainly didn't mean to suggest, nor do I agree, that the government ought to be setting the rate.

[Hildy]

I just sold my house and the realtors got $32,000. And that wasn't even six percent. For what they do...HIGHWAY ROBBERY, although I wouldn't want to do all the paperwork, I really don't think it should cost that much.

[sittnick]

". . .we will do it ourselves (FSBO)." My wife used to sell real estate. Do you know how many panicked families called her because they'd fsbo'd their house themselves and made a major error and hoped someone could bail them out?

I don't know the nature of the errors these buyers made. For my part, I will be excruciatingly complete in describing all of the quirks and issues present in the house I sell. Assuming the buyers want a mortgage, the banks are pretty good at making reasonable inspections and evaluations.

Again, I don't begrudge realtors their money, but when the realtors' organization sponsors billboards for school tax increases, paid for by their commissions at least indirectly, I would rather opt-out.

For many people, especially those in the cheaper part of the housing market, FSBO is a better way to go. It would not be such a popular option around here if the realtors suited everybody's needs.

[A CA Guy]

$30,000 for the average house in commission in CA for about a week's work is ridiculous.

[Cruising Speed]

I'm about ready to sell my home, I already have a buyer ready and waiting. My friend the real estate broker said she would handle the paperwork for 'only' 4%--which is $12,000. Not much of a friend.

[patton]

If you use a realtor in Falls Church, VA, you are an idiot.

A settlement atty. will ask $500 bucks, hang a sign on your house, FSBO, 750k, someone will pay you a million for it before the sun sets.

What, exactly, is the realtor for?

I wanna pay them $60k to hang the sign?