Buyers don’t pay Enkasa anything

In 2020, the U.S. Department of Justice has made it crystal clear that it is unlawful for #buyeragents to represent or suggest that their services are free or available to a buyer at no cost.

The State of California went as far as passing a law (CA BPC Section 10147.5) that requires brokers to include the following provision, in bold typeface no less, that reads: “The amount (or rate) of real estate commissions are set by each broker individually and may be negotiable between the seller and broker.”

This caught my attention recently: “Buyers don’t pay Enkasa anything. We charge sellers industry-standard brokerage commissions” … “Enkasa charges industry-standard agent commissions, so buyers and sellers don’t pay anything more than they would with other agents.”

Such highly deceptive advertising notions should be enough to raise a common sense alarm for a savvy consumer.

In the real world, real estate commissions are fully negotiable, by law (except in Alabama, Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee, where home buyer rebates are presently prohibited by uncompetitive state rebate bans.)

#Realtor fees are, by far, the biggest single line item expense when buying or selling a home. Read my full editor’s review for Enkasa here

#realestate #UCL #FTCAct #Realtors #proptech #transparency #advertising

Author: Litesand

Antitrust, real estate, e-commerce, fintech, proptech, bigtech

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