How To Hire The Perfect Real Estate Agent

An innovative real estate business model, or threat to the MLS?

Paper airplane image via Shutterstock.

Ask About Fees Most real estate agents will work for a percentage of the selling price of the home. But many agreements also include a bunch of other fees. Make sure you understand the agreement before you sign and what you will be getting for your money. For instance, many real estate agents will include home staging as part of the contract, but some might add extra fees for these sorts of services. Are They Part of MLS?
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Former Alabama Real Estate Investor Pleads Guilty to Making False Statement in Connection with Real Estate Foreclosure Auction Investigation

District Court for the Southern District of Alabama in Mobile to making materially false and fictitious statements to a special agent of the FBI and a Department of Justice Antitrust Division prosecutor. The false statements were in regard to his knowledge of and participation in bid rigging and other fraudulent schemes in the Alabama real estate foreclosure auction industry. According to the charge, in February 2012, Forouzan was interviewed, with counsel present, about the fraudulent schemes under investigation. Forouzan was aware of the nature of the investigation and knew that it was material for the FBI and the Antitrust Division to obtain his full knowledge of such unlawful acts as bid-rigging agreements and other fraudulent schemes relating to real estate foreclosure auctions; unlawful payoffs that he and others made and received in furtherance of such schemes; and secret, second auctions in which Forouzan and others participated. However, Forouzan willfully and knowingly provided false and fictitious information during his interview. The Antitrust Division views attempts to compromise the integrity of its investigations as a serious offense, said Bill Baer, Assistant Attorney General in charge of the Department of Justices Antitrust Division.
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But Inman News has learned that many MLSs are struggling to interpret whether their rules, which typically follow policies established by here. the National Association of Realtors, allow them to provide listings to websites operated by companies that arent actually representing buyers and sellers in their market. At the crux of the issue is deciding who qualifies as an MLS participant, and how to treat those who dont meet the definition. A NAR policy stipulating that individual brokers and real estate firms must offer or accept cooperation and compensation to and from other participants to be considered MLS participants is aimed at excluding brokers who dont list or sell properties from joining the MLS. But just because a brokerage isnt representing buyers and sellers now, doesnt mean they arent making good faith efforts to do so in the future.
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