Shame on Warren Buffett, Berkshire Hathaway and Iowa Realty. Many of you probably don’t know that Berkshire Hathaway and therefore Warren Buffett own Home Services which is basically a holding company of a great many real estate companies throughout the USA. No problem there, of course. The problem comes in with his/their attempt to squeeze competition in Iowa. And rumor has it that if successful they will continue to engage in these techniques in other markets.
Iowa Realty has quit paying commissions to Keller Williams Realty there in Iowa. And other brokerages for that matter in the past. I’m not going to bore you with a 30 paragraph rant. If you are interested you can follow these links and do your own searches.
But he next time Warren Buffett is opening his mouth about fair taxes for everyone why don’t we just ask him why he won’t pay agents with a different sign color the commissions they earned by selling a house his company listed? After all, no income means no taxes, right? And how is this in the best fiduciary duty to your client? Oh, I could go on.
Here is hoping that the Anti-Trust lawsuit beginning in November crushes the bug. Classic case of greed. If you cannot compete in the market fairly do so unfairly. If you are upset about Keller Williams’ recruiting efforts make your business model more attractive to your agents. It is really not that complicated.