Posts Categorized: Agents

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Real Estate’s Independent Contractor Model Broken

I would bet that most consumers of real estate services don’t realize that realtors in traditional brokerages are not really employees of their brokerages, but rather independent contractors. Basically it’s a cottage industry, with all its inherent flaws. I can only speculate as to why it evolved that way and I certainly don’t understand why… Read more

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Most Realtors Starving In This Real Estate Market

As I pointed out in a recent post, 1,000 realtors left the real estate business in Chicago last year. I can attest to how poorly most real estate agents are doing in this market because I periodically look up the sales statistics for agents that I know and most of the time their numbers are… Read more

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2009 Took Its Toll On The Real Estate Industry

I guess it’s no surprise that 2009 was a tough year for the real estate industry but I’ve just run across some information that gives us a pretty good idea of just how bad it was. After losing 4,000 agents in 2008, the Chicago area lost another 1,000 agents in 2009. That’s a 7.6% decline… Read more

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Realtors Loath To Discount Commissions

That’s basically the headline of one of the articles in the weekly email that I got from the National Association of Realtors (NAR) on Friday morning. Well, the headline certainly doesn’t apply to this realtor! The very short article references a recent LA Times article that features quotes from realtors like “You’d be foolish to… Read more

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Illinois Legislature Rewrites Real Estate Act

Last week the Illinois Senate passed a bill to substantially rewrite the Real Estate Act of 2000. The bill now goes to the governor for signature. Here are some of the highlights of the bill: They’re changing the terminology of the industry. Currently, a Salesperson is what most people think of as a regular agent… Read more