Procuring Cause Paradox [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] One of the more contentious, behind-the-scenes issues that can crop up in residential real estate is, “which...Read More
MLS: “$10,000 Agent Selling Bonus!” My gut tells me that Realtor sales incentives generally don’t work, based on the following, three-step logic: 1) Anything effective tends to be copied in the marketplace; 2) Empirically, home sellers (and their agents) seldom offer sales incentives to Buyers’ agents (above and beyond the payout commission, that is); 3) Ergo,...Read More
[Editor’s Note: I’m glad to report that, effective next year, the National Association of Realtors is tightening the rules on so-called pocket listings. I first criticized the practice on this blog more than eight years ago(!) — the post below originally appeared May 18, 2011. Please note that the views expressed here are solely those...Read More
“Shhh! Don’t Tell Anyone My House is for Sale” “Listing agent will not also represent Buyer.” —Clause added to every listing contract I sign. [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary...Read More
Contractual Void [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] With more listing agents incorporating “Coming Soon!” into their marketing campaigns, Buyers’ agents need to be ever-more vigilant. And...Read More
Full Service vs. Discounted Limited Service Give the agent with the idea for that billboard credit: he got lots of people’s attention (including mine). But, I doubt he’ll attract much business that way. That’s because, once you convert that offer** into a dollar amount ($2,000? $5,000??), it’s just another discounted commission. In this business, there’s “full...Read More
