Is your brokerage and closing attorney harming your business because of a financial arrangement between the two?

When your brokerage enters into a financial arrangement with a closing attorney, do you really benefit ? The answer is clearly no.  Not only are most of these arrangements questionable in their legality, the benefit never makes it way down to you, the agent. 

But even worse,  these fee sharing arrangements could be costly to your business.  When your brokerage pushes you to use a closing attorney based on its' financial arrangement and not based on cost, speed and quality, your client  can pay higher fees, receive lower customer service and lose the freedom of choice. All this adds up to an unhappy client who is less likely to refer business to you.  

There are even more losers in these transaction.  Check out the truth about these arrangements and how they are bad for your client, the cooperating agent and you. 

Gary


* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your jurisdiction for applicable legal advice germane to your issue.