Commision Rebates Battle Hits the Tennessee State House
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
It looks like the battle over commissions, rebates, full service real estate agents and the federal Department of Justice is still going strong. The real estate lobby has been working state houses across the country to get them to enact legislation banning commission rebates or creating minimum service legislation.
The Department of Justice has been doggedly trying to counteract these laws from coming to fruition as the legal battles are expensive have been consistantly won by the government allowing rebates and different levels of service on antitrust grounds.
The Department of Justice’s Antitrust Division sent a letter to the Tennessee House of Representatives indicating that House Bill 2095, would deny Tennesseans the opportunity of receiving cash rebates from real estate brokers when they buy and sell their homes. The Department said that if enacted, the legislation would impede real estate brokers from competing on price and force Tennesseans to pay more in real estate commissions. The Department also noted that the amended legislation would effectively override recent actions of the Tennessee Real Estate Commission that enable brokers to provide cash rebates.via PR Newswire.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Comment by Sock Puppet on 16 May 2007:
I’m not sure I understand how a licensed profession could NOT have a minimum service standard.
The rebate issue is a different kettle of fish. That one goes round and round it seems.
Comment by Stuart Scholer on 26 July 2007:
True (commission) Rebates are flourishing in Texas and rewarding saavy buyers both for new homes and resale homes. They are most prevelant in the new home market and can be a real stepping stone for the buyer that can get all or most of his closing costs paid by the rebate in conjunction with Builder contributions. The Texas Real Estate Commission reaffirmed the commission rebate in the December 2006 TREC Adviser defining what a rebate is and who can receive it and under what conditions. Like I said, savvy buyers are doing well in this environment. There are still many buyers that have no idea of this provision in the market place and worse yet many buyers that think it is illegal, unethical or “too good to be true” and ignore it. Too bad.
Comment by 2% Commission Realtor Rebate - Cash Back Buyer's Agent - Atlanta, Georgia GA on 5 June 2008:
Great information about home buyer rebates; they are very beneficial to home buyers.
In addition to the rebate, a buyer should seek out a good buyer’s agent who is focused on saving the buyer money through strong negotiations throughout the entire transaction.
Comment by Cash back Real estate Rebates on 29 June 2008:
There is no reason to limit or restrict broker rebates to real estate home buyers as it is the principal method by which a buyer broker can discount or negotiate their fees. Real estate fees and commissions should not be fixed by state law.