Wednesday, October 04, 2006

The Cats Out Of The Bag

As the saying goes - once you let the cat out of the bag, it goes wherever it wants. To this point, click over to read Greg Swann's blog about "the home-buyer’s place at the table". The essay details ideas for homebuyers and Realtors to adopt when working together as a team. The basic theme is telling the homebuyer to be aware of costs in a transaction and always ask “How much do you charge?”.

Among other suggestions and ideas Greg makes mention of a “secret” field displayed in some MLS systems. Telling his readers that "listings you find on Realtor web sites or on" do not detail the co-broke / commision field — it is kept concealed.

Why is the co-broke field kept concealed from the homebuyer view in MLS systems? Overly restrictive? Pro-competitive? Anticompetitive?

What would change if the homebuyer was able to view the "secret" fields that some MLS systems keep concealed?

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