Among Money's Great Mysteries - Real Estate Commissions

Daily Herald (Arlington Heights, IL), July 4, 2006 | Go to article overview

Among Money's Great Mysteries - Real Estate Commissions


Byline: Burt Constable

Among the many things I don't understand - the appeal of Paris Hilton, the existence of gay Republicans or Cubs manager Dusty Baker's fondness for Neifi Perez - finances still rank at the top.

Money mystifies me. I know it makes the world go around, that the love of it is the root of all evil, and that it doesn't grow on trees - and that's about it.

I can't, for instance, explain why a waitress who calls you "Hon," balances a $5.35 collection of piping hot plates containing eggs, toast, bacon and hash browns, and refills your coffee cup as fast as you can drink it would be thrilled with a $3 tip. But a disinterested waiter who brings you one $9 martini and barely makes the effort to plop a $42 steak-and-potato in front of you is ticked if you leave him anything less than a $10 bill.

Likewise, a real estate agent who might sell an $850,000 house after one day of little effort earns a commission thousands of dollars more than a hard-working agent who might labor for weeks to sell a $140,000 house.

In a nation where more than 2 million people hold real estate licenses and God-only-knows how many are doing cheesy TV commercials for the sell-it-yourself movement, I don't understand how it all works.

Maybe that is because it doesn't.

"I think this industry is really broken," says Realtor Evan Kane, 37, a member of the National Association of Realtors (NAR) and founder of suburban-based Endeavor Realty, one of a newfangled breed that has broken away from the brick-and-mortar real estate offices and traditional 6 percent commissions. "I think it's anti- consumer."

The Justice Department agrees.

For the last nine months, the Justice Department has continued to push toward a courtroom its antitrust action against the National Association of Realtors, which is headquartered in Chicago.

Since the start of this year, the NAR (www.realtor.org) has tweaked its policies, but not enough to stop the case from moving toward court. The organization also has been waging a nationwide public awareness campaign that emphasizes trust, ethics and its study showing homes sold by Realtors sell for up to 16 percent more than those sold without them.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Among Money's Great Mysteries - Real Estate Commissions
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.