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I am assuming that DOJ is proceeding from the position that the ability to search by cobroke amount enables buyers agents to exclude certain properties thereby restraining trade. Fiduciary failure, too.
Except it's not in transaction brokerage states I would think. Again, if I'm wrong, correct me if you're in a TB state.
Well I just learned something new today. I have Paragon too. I can search and filter out via compensation offering, but I have to say it isn't practical. You can't put in >2.5 for example. You have to put in each number individually and it pulls up just that number. So if your minimum is 2%, then you have to enter in every number greater than 2% to get all the listings that offer more than that. That seems like a complete waste of time. Way easier to do a buyer agency agreement for any unacceptable compensation offerings, and then just tell the buyer when one comes up.
Well I just learned something new today. I have Paragon too. I can search and filter out via compensation offering, but I have to say it isn't practical. You can't put in >2.5 for example. You have to put in each number individually and it pulls up just that number. So if your minimum is 2%, then you have to enter in every number greater than 2% to get all the listings that offer more than that. That seems like a complete waste of time. Way easier to do a buyer agency agreement for any unacceptable compensation offerings, and then just tell the buyer when one comes up.
Interesting how different MLSs deploy the same product. I can search by multiple numbers in the BA Commission field.
Either Dollar or Percentage.
2.4, 2.5, 3.0, 3.5, 4.0, etc.
And, I can choose whether the results are based on equaling a specific number, or not equaling a specific number, whether the number starts with a figure. I.e., "Starts with 2" will yield 2.4, 2.6, etc, as well as one offering "$25,000."
Using my town, Cary, I see:
445 Active MLS residential sale listings.
275 @ 2.4%
131 @ 2.5%
1 @ 2.6%
18 starting with a 3.
15 starting with a 4.
There are also some odd numbers which are difficult to quantify, but the results come within a handful of equaling the 445 total.
Suffice to say, if I was a crook and wanted to concentrate only on high cobrokes, I would be able to, and fairly easily.
Last edited by MikeJaquish; 05-27-2019 at 04:46 AM..
"The second major area is far more sweeping. The second area of document production covers “any policy, guideline, rule, practice, agreement, or contract term that restricts the Company’s usage, distribution, sale, or licensing of any MLS data.” The DOJ wants CoreLogic to supply any documents that outline any “possible or actual reason, rationale, or basis” for such a policy, rule, etc. etc.
That’s incredibly broad. It covers everything from IDX to VOW to private comments in the MLS. But I think I know what the real target here is: Sold and Off-Market Information. "
How many buyers are using apps to do their home search? Apps do not have the ability to filter by co-broke.
No, it is an agreement between the agent and the seller. Buyer Brokerage Agreements here are very specific as to how much an agent expects to receive to assist in the purchase of a property, and whether or not the buyer is responsible for making up any shortage.
Interesting how different MLSs deploy the same product. I can search by multiple numbers in the BA Commission field.
Either Dollar or Percentage.
2.4, 2.5, 3.0, 3.5, 4.0, etc.
And, I can choose whether the results are based on equaling a specific number, or not equaling a specific number, whether the number starts with a figure. I.e., "Starts with 2" will yield 2.4, 2.6, etc, as well as one offering "$25,000."
Using my town, Cary, I see:
445 Active MLS residential sale listings.
275 @ 2.4%
131 @ 2.5%
1 @ 2.6%
18 starting with a 3.
15 starting with a 4.
There are also some odd numbers which are difficult to quantify, but the results come within a handful of equaling the 445 total.
Suffice to say, if I was a crook and wanted to concentrate only on high cobrokes, I would be able to, and fairly easily.
Yeah here if you type in 2, it brings in any number that has a 2. So 4.2%, 3.2% or 1.2%, $2 etc would all show up. I can't type in "starts with 2". I just tried it and it doesn't work.
In Corelogic we can do a 2+ for bedrooms, baths, car spaces, etc but not 2%+ for commission.
As noted above, using the same vendor, Silverfall cannot perform searches that I can perform.
So, I wonder, if your ability is limited by CoreLogic, or by your local MLS specifications to them?
We gave up CoreLogic to go to Paragon, and I don't know if we were able to search by cobroke when we had them.
I wonder if DOJ's request headlines CoreLogic only because they are the biggest, or because DOJ knows they have are vendors to MLSs which allow those searches.
Data... SQL, not the Microsoft product, matters - the query string matters greatly with regard to how the data is stored in the DB (assuming it is a relational DB?). %, &, #, $... ability to search for "4.#" or "3%". It matters how it's coded to front end the searches... and, of course, it matters how diligent data entry is - Garbage In = ...
When someone chooses a different vendor (i.e. CoreLogic versus Paragon), is that just the front end? Is that the whole stack, including the DB? Who manages and maintains the back-end database? Is it another party?
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