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They would stop doing it, it agents stopped showing their listings.
I'm not a fan.
I really dislike this practice. MLS is not used to direct you to another site where you can purchase the home. I my mind it is deception.
Our brokers do not do this.
Don't like it at all. Commission needs to be at least 2% or higher, even for an auction.
Chris and Dick Dovorany
I hate it and I am the listing broker on most of these properties in my county. When I take the REO assignment, I am not told the property is going to auction. I already have a lot of time vesting into the property when I find out. I just roll with it. Commissions can't be standardize.
I don't like this at all but being on the listing side of some of these properties you are told to do it by the seller and have no choice but to lose the listing.
These are REO properties that are using this strategy to sell . I don't think auctions are a good way to buy or sell but it has become for some lenders the preferred method .
It's the banks that are making them do this. Though, I would certainly not work for these. I have told my customers that if they have an interest in these properties they will need to pay me the difference in my commission, otherwise it's a loss of money in the time I need to do these transactions.
I have not seen this. When I conduct auctions of Farm Land I can say that at the auction I do not offer a co-op commission ... nor am I offered one at other auctioneers auctions. If I take a buyer to a different Brokers Land auction, the buyer already knows what to add on for my commission prior to the auction.
I do co-op on regular listings. I also do not advertise in the MLS (nor belong) mainly because 90% of my listings are outside most of Nebraska's outstate MLS areas.
They too will fade away when they do not receive the responses they expect.