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From: smb@ulysses.UUCP (Steven Bellovin)
Newsgroups: net.consumers
Subject: Re: Need advice on bidding on a house
Message-ID: <1109@ulysses.UUCP>
Date: Tue, 24-Sep-85 16:06:31 EDT
Article-I.D.: ulysses.1109
Posted: Tue Sep 24 16:06:31 1985
Date-Received: Wed, 25-Sep-85 04:01:20 EDT
References: <713@whuxl.UUCP> <1185@ihuxn.UUCP>
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 11

> Realtors MUST work on 7% commission (or
> 3.5% each if your realtor is not the same as the realtor the property
> is listed with), and MAY NOT kick any of it back to you.

The required fee was held to be an illegal restraint of trade, and is
now (in principle) negotiable.  But, as was pointed out, the realtor
represents the seller, and hence that figure is negotiable between the
realtor and the seller, not the buyer.  If you and the seller are within
epsilon on the price, it is quite proper for the buyer to ask the realtor
about negotiating a fee reduction -- but the realtor is of course under no
obligation to do so.  (Incidentally, around here the standard fee is 6%.)


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