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Thread: high gas prices

  1. #101
    Senior Member huntinman's Avatar
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    Quote Originally Posted by Roger Perry View Post
    No, the market does not set the rates. The broker sets the rates.
    Wrong. You just contradicted yourself. Call your own Broker and ask him/her if they set commission rates.

    They will probably ask if you are nuts (if they don't already know). You just got through correctly describing how it was NEGOTIABLE. It can't be negotiable AND set by the broker. Which is it? You are confusing yourself!
    Bill Davis

  2. #102
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    Quote Originally Posted by huntinman View Post
    Wrong. You just contradicted yourself. Call your own Broker and ask him/her if they set commission rates.

    They will probably ask if you are nuts (if they don't already know). You just got through correctly describing how it was NEGOTIABLE. It can't be negotiable AND set by the broker. Which is it? You are confusing yourself!
    How are Commissions Set?

    Although in the past real estate associations had mandatory commission rate schedules for their members, these rate schedules have been banned. Commissions are now set by the broker and may be negotiable by the seller and the listing broker. The seller and listing broker agree on the type of listing, the rate of the commission, and the conditions which have to be met for the commission to be paid. This information is then included in the brokerage or listing agreement.

    http://real-estate.lawyers.com/resid...mmissions.html

  3. #103
    Senior Member Gerry Clinchy's Avatar
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    Roger is correct. "Price fixing" is not allowed in real estate commissions. Falls under anti-trust laws. Each broker is free to set their own rate. In fact, some brokers who specialize in luxury homes may ask for 7% due to the enhanced services they provide, whether it be advertising in specialty print vehicles, or the use of direct mail to a high-end clientele. Also, I have heard of commissions of 10% in some commercial instances.

    However, I might disagree with Roger that the market does not set the rates. The rates charged by a broker will be impacted by the competitive marketplace. During a "boom" when a home will sell quickly, there is a lot of competition for listings, and brokers may be more likely to negotiate. When homes are sitting on the market longer, and buyers are scarce, brokers will be putting in more hours to get the home sold, so a higher commission is needed to offset higher "investment". While less $ is now spent in print advertising, a LOT more is spent on internet advertising & other marketing technology.
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  4. #104
    Senior Member huntinman's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    Roger is correct. "Price fixing" is not allowed in real estate commissions. Falls under anti-trust laws. Each broker is free to set their own rate. In fact, some brokers who specialize in luxury homes may ask for 7% due to the enhanced services they provide, whether it be advertising in specialty print vehicles, or the use of direct mail to a high-end clientele. Also, I have heard of commissions of 10% in some commercial instances.

    However, I might disagree with Roger that the market does not set the rates. The rates charged by a broker will be impacted by the competitive marketplace. During a "boom" when a home will sell quickly, there is a lot of competition for listings, and brokers may be more likely to negotiate. When homes are sitting on the market longer, and buyers are scarce, brokers will be putting in more hours to get the home sold, so a higher commission is needed to offset higher "investment". While less $ is now spent in print advertising, a LOT more is spent on internet advertising & other marketing technology.
    You are both right that these brokers can set their rates at whatever they want. That does not mean they will get that rate. Bottom line is that it is still negotiable between seller and listing broker and the market will still in the long run, win. Much like the free market in any other industry like oil & gas
    Bill Davis

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    Quote Originally Posted by huntinman View Post
    You are both right that these brokers can set their rates at whatever they want. That does not mean they will get that rate. Bottom line is that it is still negotiable between seller and listing broker and the market will still in the long run, win. Much like the free market in any other industry like oil & gas
    If that were true of oil and gas companies each country could set their own price. The oil companies are out to make the most profit for themselves and their investors. People go to Walmart to buy items that sell for less. we have to pay whatever price for a gallon of gasoline based on what OPEC is getting for a barrel of oil. Where is the incentive for an oil company to lower the price of a barrel of oil? OPEC can control the price by increasing or decreasing production. Do you think the citizens of Venezula or Saudi Arabia are paying $4.00 a gallon for gasoline???
    Last edited by Roger Perry; 04-14-2011 at 03:20 PM.

  6. #106
    Senior Member Franco's Avatar
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    [quote=Roger Perry;786287]If that were true of oil and gas companies each country could set their own price. The oil companies are out to make the most profit for themselves and their investors. People go to Walmart to buy items that sell for less. we have to pay whatever price for a gallon of gasoline based on what OPEC is getting for a barrel of oil. Where is the incentive for an oil company to lower the price of a barrel of oil? OPEC can control the price by increasing or lowering production.[/quote]

    Not completly accurate. If OPEC makes a major cut in production, it will have some effect on the price. What really determines the price is demand. Speculators are driving prices up because they want it at just about any price.

    All drilling does not cost the same. Some wells cost more to bring in. The average breakeven for the oil producers is between $60 and $70 per barrel. If oil is selling for less, they don't invest in new production. When it is higher, they attempt to bring as many wells online as they can, which eventally will drop the price.

    The problem within the USA is the EPA and thier supporters. If Obama had not shutdown the Gulf Of Mexico last Summer, there would be a lot more crude oil on the market.
    It's such a shame that in the USA, defending Liberty has become such a heroic deed.

  7. #107
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    NEW YORK (CNNMoney.com) -- In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it's 33 cents. Venezuelans pay less than a quarter.

  8. #108
    Senior Member Franco's Avatar
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    Quote Originally Posted by Roger Perry View Post
    NEW YORK (CNNMoney.com) -- In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it's 33 cents. Venezuelans pay less than a quarter.
    That is because oil producution has been nationalized.

    Thye Saudis hire Americans to run their production because they don't have the expertise to do so themselves. Iran and Venezuela do so because their countries are so poor, they would shutdown if they had to pay market price. Mexico has also nationalized with Pemex many decades ago and you can see where that has done for them. They drill with reckless abandon and cause more polution than we do in drilling for oil. And, they can't get thier oil to market at a competitve price.

    The answer is NOT nationalization because it is too wasteful. If we had nationalized oil, not only would it become political, the cost of production would go through the roof. Our government has no concept of holding down cost. The private sector with the incentive to make money is the only way to economically drill for oil.
    It's such a shame that in the USA, defending Liberty has become such a heroic deed.

  9. #109
    Senior Member road kill's Avatar
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    All we have to do is talk about opening drilling in the gulf again and the speculators will cause prices to go down.

    Evryone knows this but the guy who can change whats happening here.
    Rising gas prices are killing the economic recovery as it were.


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  10. #110
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    Quote Originally Posted by Roger Perry View Post
    NEW YORK (CNNMoney.com) -- In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it's 33 cents. Venezuelans pay less than a quarter.
    ...meanwhile up here, where we are the largest foreign oil supplier to the US, we pay the equivalent of $4.99 CND/ per US gallon, so stop your whining. Any resource which takes millions of years to create shouldn't just be burned up and lost forever. The future is going to be built on energy, those countries which are dealing now with fossil fuel issues, be it from an environmental perspective or the supply side are going to be better placed the retain their economic advantage. The worst thing that your government can do to weaken your children's economic future is to behave as though oil should be there forever to be burned like it has no value.
    The very best thing your country can do, is to leave as much of its crude resouces in the ground, because it will still be there to be used for plastic and fertilizer when all other supply sources have run out. Perhaps in the future you will be able to trade plastic to the Chinese in exchange for cheap power.
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