71–80 of 220 posts
Earlier quoted context omitted.
It's mostly due to the fact that in order to list a house or find a house you need to use a system called MLS. In order to use the system you need to be a realtor. It's quite simple actually
But what's preventing realtors from defecting and offering their services for a lower rate?
A good realtor can guide you through the market, inspections, and negotiation - all of which hugely affect the largest investment most people make. But that's no reason for them to demand a PERCENTAGE off the sale of the home! Closing fees plus realtor fees are a big reason why it takes so long for a home to break even for most people - something like 7 years in NYC. And one reason why there's so much pressure for ho…
A good realtor can guide you through the market, inspections, and negotiation - all of which hugely affect the largest investment most people make. But that's no reason for them to demand a PERCENTAGE off the sale of the home! Closing fees plus realtor fees are a big reason why it takes so long for a home to break even for most people - something like 7 years in NYC. And one reason why there's so much pressure for ho…
> A good realtor can guide you through the market Sure they can , but the entire incentive structure creates a situation where it's in the agent's best interest to get the sale done regardless or the outcome to the buyer/seller.
Why give a complete picture to a seller when they may turn into a non-seller, or a later-seller, if you do?!
Earlier quoted context omitted.
And there are a lot of fear tactics used as well. Or FUD, at least. "Don't skip the inspection, what if something is wrong" sounds sensible but pre-purchase home inspections are quite surface level, will only find visible, obvious problems, and in the fine print they disclaim responsibility if they miss anything.
In my area, you won't get an offer accepted if you don't waive the home inspection. In fact, it's basically required to waive all inspections, such as radon and others. So the state says you have a so-called right to these, which divests the state from liability, but on a practical level, you need to waive these. Buyers end up having to buy ~$1M homes based upon just looking at them once or twice over just a couple o…
This is a consequence of an extreme lack of supply in your area rather than some sort of realtor conspiracy though.
Earlier quoted context omitted.
But what's preventing realtors from defecting and offering their services for a lower rate?
The other agent won't bring clients to you if the cut is too low.
A good realtor can guide you through the market, inspections, and negotiation - all of which hugely affect the largest investment most people make. But that's no reason for them to demand a PERCENTAGE off the sale of the home! Closing fees plus realtor fees are a big reason why it takes so long for a home to break even for most people - something like 7 years in NYC. And one reason why there's so much pressure for ho…
> A good realtor can guide you through the market Sure they can , but the entire incentive structure creates a situation where it's in the agent's best interest to get the sale done regardless or the outcome to the buyer/seller.
A good realtor can guide you through the market, inspections, and negotiation - all of which hugely affect the largest investment most people make. But that's no reason for them to demand a PERCENTAGE off the sale of the home! Closing fees plus realtor fees are a big reason why it takes so long for a home to break even for most people - something like 7 years in NYC. And one reason why there's so much pressure for ho…
> A good realtor can guide you through the market Sure they can , but the entire incentive structure creates a situation where it's in the agent's best interest to get the sale done regardless or the outcome to the buyer/seller.
Build quality basically had no impact on housing prices because no one could do a proper inspection.
Earlier quoted context omitted.
Of all the scams associated with real estate transactions, title insurance is kind of legitimate. The title chain itself may be recorded, but there may be some lien against the property that was not properly recorded. That’s the situation you protecting against. Now whether that’s worth .5-1% is debatable.
Title insurance is a real thing, but it is wildly overpriced for the actual risk.
Now we just need an explanation of how the hell appraisers come up with their numbers. Not only is it functionally useless to ask someone to measure fair market value of an asset that already has someone offering to buy it at a specific price, the appraisals seem to come in ridiculously close to offer price every time. I've had to deal with around 8 appraisals over the years as buyer or seller, I only had one that di…
Now do the Collective Refusal to Deal commited by the Texas Apartment Association. They require every apartment complex in Texas to use the same contract. That's a criminal violation of Texas' anti-trust laws, specifically it's a Collective Refusal to Deal.