In the good fashioned time, not so long ago, there were Buyers and there were Sellers. Contracts were written and Terms of Acceptances were honored. Close of Escrows were declared, houses were sold. It was a simple, dignified time. There was mutual communication between Realtors based on the best interest of their clients and the parties involved. Commissions were not discussed after the fact; there was no, "yeah, but you really didn't EARN that commission". There were no hat-in-hand, apologies for our occupation implied.

That was then, and this is now. The banks have run rough-shod over the Realtors and the National Association of Realtors without apology. Any of the dignified truths stated above are gone. There is no such thing as a term of acceptance. An offer may be responded to at some point in the future with a take it or leave it counteroffer that is nothing less than a unilateral contract benefiting the Bank with no opportunity by the Buyer to counter the counter.

Our commissions have been slashed - sometimes after the fact.

I am in the process of attempting to buy a foreclosed home. My offer is full price, in cash. In writing the offer my term of acceptance was passed without comment. The counter offer - the bank's fine print stated that if *I* failed to close in a timely manner, MY penalty would be 100.00 per day for each day it did not close. I performed, Title is ready to perform, the MLS lists the home as pending on my behalf (subject, I suppose to someone else coming in behind me with even higher and best offer.), but I have yet to get an executed contract.

The agent is, correctly so, exasperated. But while I do my own share of foreclosures and short sales, I am beginning to wonder if I am sleeping with the enemy. Do I really want a client (the bank) who has little or no respect for who I am or what I do?

Most importantly, I have to ask, "Where is my organization? Where is NAR and where is my local?" Why are all the indignities being allowed? Is not a legal contract a legal contract?

I wish I had the answers.