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You all have been hearing how Z i p Realty is trying to cut Realtors commission.
It appears to me, they are on a mission. I have a concern, I want a true feedback. In my opinion words like "going rate" "traditionl fee" is a violation of Sherman Anti-trust laws. However, if you got their site, buyer and seller section is littered with these words. Also, they are looking to raise around $60 million dollors in IPO, however, I believe they are having difficulty. I was recalling Dot.Gone era.. I saw some Arizona agent signed up with them. I guess they dont see the whole picture, when they support these companies. They may enjoy short run of success, however, when other agent discount to match their fees, they will loose, since agent gets to keep all and not share with them. Also, look at their claim, they mention 25% savings to the seller, can someone do the math. They charge 1% less than other agent ("going rate"-think Anti-trust) 6% -1% = 5% so.. 100,000 x 6% = $6000 "going rate" commision 100,000 x 5% = $5000 Z I P commission So called saving, (who knows some agent list home for 1%) = $1000 $1000/$6000=16.67% saving .. I cant figure out "up to 25% commision saving" claim. |
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