Why Does the MLS Keep Commission Amounts Secret for Agent's Eyes Only?

[blahblahblah]

Why shouldn't the public be allowed to see why an agent is steering them to a property with a higher commission, or in fact boycotting showing a client a "perfect" property because it has a lower commission?















In fact, why is this practice allowed at all since it's against the law...it's against the Sherman Antitrust Act. This is both unethical and illegal.















All a client needs to do is prove steering based on commission rates. Violations of the act currently are punishable by fines of up to $350,000 for individuals and up to $10 million for corporations, as well as by imprisonment of up to three years.















One could plant lower commissions and get a statistical analysis on a particular company, that way the damages would be far greater against a real estate corporation.

[bostonianinmo]

Just ask. If the agent isn't willing to disclose that, find one who will. I've never run into one who wouldn't disclose that though there are certainly some who would.































Not sure how your figure this is against the Sherman Act. Whatever.

[operababe_61]

It sounds like you have firsthand knowledge of an agent who's doing this. An agent might "steer" you to a property that they prefer (for whatever reason) but nobody can force you to buy it. And if you feel that's what they're doing, find another agent that you actually respect.































Yes, there are lots of agents who do this. We're not supposed to but there are unethical people in every walk of life. But as someone else already mentioned, the MLS is owned by agents and the general public didn't have access to ANY of the information until recently. It's up to them what information they will publish freely.

[craig24]

Agency is the key and who is representing whom. A reputable agent will explain agency at the first point of contact and if you choose to have that agent represent you, then they will also have a compensation disclosure at the time of an written offer.































If a person wants to be shown properties but doesn't want to commit to representation, the agent has no obligation to disclose offered compensation.

[SELL2K_com]

If this is something that worries you so much, then should be willing to sign a Buyer Brokerage agreement with your Agent, stating you'll pay him a 3% commission or make up the difference if he is not compensated such on the listing. This way your agent will show you all the properties regardless of commission being offered and can even show you FSBO's in addition to the MLS listings. But then you probably wouldn't have a problem with seeing the 3% listings first right?































If the property meets all your needs and is in your price range, then what does it really matter to you how much your agent gets, if he finds you a house you really want? I offer Buyer Rebates to my customers and always disclose my commission on the sales contract regadless, so it doesn't matter to me, but I was just curious why this was such a big deal to you. The Sellers who offer the smaller commissions are usually the most over priced homes and least eager to sell anyways.































Thanks,















SELL2K