At Ashman Realty Group, we believe in transparency and fairness when it comes to listing fees. In this blog post, we will discuss our policy and approach for listing a home for sale, while also addressing the National Association of Realtors’ rule against price setting of fees and the recent court case against them for just that. We aim to provide you with a comprehensive understanding of our approach and the industry guidelines we adhere to.
It’s important to note that the National Association of Realtors (NAR) has a strict rule against price setting of fees. This rule is in place to promote fair competition and prevent anti-competitive practices within the real estate industry. How then did it become common practice for many Brokers and Agents nationwide to charge 6% split between the listing and selling Brokers at 3% each?
Unfortunately for NAR and prominent Brokerages, through required continuing education classes Agents and Brokers alike have been encouraged to sell the value that they bring to the transaction table in order to avoid having to discount their fees. This in our opinion is one reason why the NAR and prominent Brokerages may have been ruled against. This practice of encouragement to avoid discounting fees through education could be construed as a form of price fixing without having to coordinate or directly collude with one another to set a specific price.
The fact of the matter is that Brokerages and Agents basically list and sell your home the same way. The home itself is the selling feature, and the buyer’s agent is technically the selling agent. Some Brokers/Agents may provide more services than others granted, but in general if the home is listed on the marketplace, it is priced appropriately, and it is presented well with its best features on display you can expect that the primary tasks and promises are being met across the board. Those that do not meet these tasks and promises aren’t likely to remain full time Realtors or Realtors at all.
We feel the same as many of you and those who brought the case against NAR. 3% to list a home for sale in North Atlanta and many other markets was an exorbitant amount for the services being provided. Broker listing fees should vary depending on the market valuation of the home. In lower end markets, 3% may be an appropriate fee for the service provided.
If you’re looking to sell your home in the North Atlanta area, we invite you to experience our transparent approach and benefit from our dedicated team of real estate professionals. Contact us today to learn more about our services and how we can assist you in achieving your real estate goals.
Best regards,
Matt Ashman
President/Broker/CFO
Ashman Associates, Inc.