Oklahoma Eliminates Agency From Brokerage Relationships
(Blanche Evans - 08/21/2000)
I can hear the applause now...
Posted By: bryantkeefe - 08/22/2000 11:39 AM
Dear Blanche,
This is the first sensible "agency" law change I have seen. I hope it comes to Arizona. I have always felt that "agents" do not exist. Despite our industries insistence otherwise. We help people buy and sell houses, get loans, negotiate a few repairs etc...It is not rocket science nor is it life saving. I always know I am in for a tough deal when I get some uppity salesperson whose first words are to make sure you know they own some "homebuyers" i.e "my buyers". We operate at the pleasure of the consumer and our role is to help them get what they want. They certainly are not going to fall on any swords for us nor do they expect us to do the same. Most of the "agency" dialogue is reserved for ourselves, not the consumer. Watch most agents eyes spin at the prospect of the "double dip". Which is never in the consumers best interest. How many sellers "agents" will insist that buyers go get their own agents prior to negotiating on a house? Or how about the big companies who rely on the in-house sales to survive. None of this benefits the consumer. Realtors exist to make sure Realtors continue to exist!
This law will hopefully start to dismantle the "seller pays all commissions" mentality. Let the buyer hire their own "agents" if it is all that important to them. They rarely will. Why? Because our industry sells itself as a "free" service to buyers. The seller pays all the fees.
This is a long overdue change and hopefully a wake up call to the consumer to bring our industry down to reality. The consumer does not want battles they just want to make a move as simply as possible.
When we, as an industry, can start to think about the consumer instead of ourselves, then this law makes great sense.
Thanks for all the great articles. I start each morning with a check of the "Agent" News. New Name?