2 agencies near deal over Realtors' exodus

Here is another article in the Sarasota Herald Tribune about SKY Sotheby's International Realty and Michael Saunders and Company working out a deal so that the exiting Realtors can take their listings with them.

"Details of the arrangement were not immediately available, though one seller contacted by the Herald-Tribune said she was told her deal would include a $750 payment to Sky and a 25 percent referral fee.

Normally, agents who want to take their listings have to get their new employer to reimburse their former employer for any expenses involved in marketing the property. A sizeable referral fee also is customary to ensure the old company makes money on any subsequent sale.

The problem for weeks, however, was that Sky would not provide details on how much money was spent to market the listings of those who left. Instead, the company wanted Michael Saunders & Co., where most of the departed agents went, to pay a flat fee associated with Sky's "marketing plan."

If Sky's plan called for eventually spending $5,000 on a particular listing, the company wanted a check for that amount. Saunders asked for invoices and receipts as proof of expenses, as is customary. Sky refused to provide any, a Saunders spokesman said."

Fortunately, a few of my listings sold prior to my departure. I have not carried a large inventory of listings lately. Largely because most sellers are not willing to list their property at market value. I don't determine the value of your home, you don't determine the value of your home, the market determines the value. You just decide if it is enough for you to sell. If Google stock is selling for $464 a share, you can't sell it for $550 until it starts trading there. I am not trying to negative, just realistic.