Zillow CEO: startups trying to disrupt real estate commissions will fail (2012)

Post by honopu » Wed, Jan 16, 2019, 9:40 PM UTC

AtlasBarfed wrote: post #38

muhneesh wrote: post #22

I see at least three counterpoints: 1. Real estate agents aren't often "experts" at real estate valuation, inspection or execution; They have dependencies on appraisers, inspectors, and lawyers. The work an average agent does is more or less cookie-cutter from my anecdotal experience, though I think there is a proportion of rockstar agents that do much more. 2. Not every buyer wants homebuying to be a client-services…

"Good" real estate agents are interested in moving as many houses as quickly as they can, to gain as much vig revenue as possible. "Good" real estate agents from the buyers perspective would be slowing down sales, reducing the overall price they make a percentage on anyway (which is why fixed rate for a "class" of real estate would work better) as a disincentive. Why would a real estate agent dissuade someone from bu…

Post by seltzered_ » Wed, Jan 16, 2019, 9:40 PM UTC

igolden wrote: post #24

btgeekboy wrote: post #8

This article is from 2012.

+1 - has anyone successfully proved him right/wrong since?

Post by honopu » Wed, Jan 16, 2019, 9:42 PM UTC

calbear81 wrote: post #13

I've used buyers agents (1 traditional, 1 Redfin) when I've bought homes since they are being paid from the Seller's Fees and in most states I believe they are legally bound to act in your best interest. I've had a new construction seller try to convince me to not get an agent and would give a discount instead but felt that the risk wasn't worth it especially since most buyers agents I've engaged with have been open…

Post by ams6110 » Wed, Jan 16, 2019, 9:49 PM UTC

sauwan wrote: post #60

jpollock wrote: post #39

Earlier quoted context omitted.

Frankly, if you're worried about 3% on the purchase price of the house, you can't afford that house, regardless of the amount of money. Particularly in expensive markets in the Bay Area, the real estate agent is there to tell you when you're being stupid - unrealistic with your demands (under or _over_ paying) and keeping you from stomping away in a huff during the stressful negotiations. This is buying and selling t…

I think this is pretty misguided. 3% of $100,000 is $3,000. Many housing purchases will be more than that, but let's just talk over $3k. Some people will be very comfortable with dealing with negotiations, pricing their house (the quasi-ethical can even talk to a few realtors before hand to get their opinion), and doing the paper legwork. Just because someone chooses to use their time and effort rather than forking o…

Post by davio » Wed, Jan 16, 2019, 9:50 PM UTC

muhneesh wrote: post #22

I see at least three counterpoints: 1. Real estate agents aren't often "experts" at real estate valuation, inspection or execution; They have dependencies on appraisers, inspectors, and lawyers. The work an average agent does is more or less cookie-cutter from my anecdotal experience, though I think there is a proportion of rockstar agents that do much more. 2. Not every buyer wants homebuying to be a client-services…