181–190 of 220 posts
Align the incentives beyond just getting a deal.
Money should fought for at the margin.
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Buyer’s agents should logically cease to exist. They’ve been replaced by real estate websites, they’ve just been hanging on through an artificial monopoly. Everything my last realtor showed me was worse than what I found on Zillow on my own, and the formatting of the information was so user-unfriendly that it was basically worthless.
On point! Been saying this for years. I bought my house and had sellers agent represent me. The seller went with our offer because agent made more commission. We were not the highest offer.
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I recall reading a section in the California DRE salesperson training book 20 years back on canvassing for new clients. They actually discussed perusing local obituaries and contacting next of kin, because you know, there's a likely sale to be had. But they cautioned waiting 2-3 days as it could be seen as being insensitive.
What is wrong with that? It is a fact that many homes are sold when their occupants die, and offering your services to a potential customer when the customer likely needs it does not seem out of bounds.
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fine, but let's not compare meal cost to a house. that 6% is very arbitrary. i never got how selling a home in a major metropolitan area would require 10 times as much work for a realtor than a house in the middle of nowhere midwest for 200k. the flat percent doesn't make sense.
The same argument goes for buying steak versus buying a chicken meal. The costs are wildly different but the work is the same, why should I pay the waitress more for one versus the other?
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> an army of prospective buyers to show up on the day that's what i hate about realtors. in germany they will gladly invite a hundred interested people for a flat and by that make searching for an appartment a huge waste of time. it's easier for them and probably a nice ego stroke.
My question was always where the hell she finds all these people and always manages to achieve a rather large premium to my somewhat rigorously estimated value based on all the comparables I find on BrightMLS. They're obviously not getting a great deal. All 3 sales were also Philadelphia suburbs, which is not a lucrative market for speculative gentrification. The only major spike in values in the past 25 years was du…
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Now imagine a world where realtor fees are 1% instead of 6%. On a 300k house, that's 15k you don't pay to the realtor. In this world, your realtor doesn't bring you an extra 12k from the buyer, but you still come ahead. And the buyer pays less too. That's a win win world for everyone (except the realtor, who are redundant middlemen in the internet eta).
First off, I'm not opposed to such a world in general. However, you, like the other replier, failed to read how my $300k number was intended as a joke about my optimism. Thus, it makes more sense to conclude my estimates (made with both a degree in Finance and access to BrightMLS comparables to rigorously draw my conclusions) was obviously far lower than $300k and your numbers don't really make much sense. Remember,…
I have no doubt that there is a range of talent for realtors, just like SWEs. The problem is the 6%. Why doesn't your realtor get 10% and everyone else get 1%? The system is rigged.
when i came to the US the idea of a person making a commission on the sale of real estate was foreign to me. in my home country most ppl sell and buy real estate themselves. agents are used for special situations. when i tried to call an owner in the bay area to buy from them directly and offered to pay for any lawyer of their choice to have paperwork drafted and reviewed they pooped their pants. i never understood w…
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What is wrong with that? It is a fact that many homes are sold when their occupants die, and offering your services to a potential customer when the customer likely needs it does not seem out of bounds.
Do you also not see anything wrong with a lawyer chasing ambulances?
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The other agent won't bring clients to you if the cut is too low.
This is very true. A home I purchased recently, the sellers had a very new realtor, who was friends with them. She had listed the commissions very low - probably thinking she was doing them a service. I purchased the home without a realtor, and one of the ways I had a much stronger position was because no one else was being shown the property. (As in, realtors weren’t mentioning it to their clients). I had a friend o…
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There are a ton of websites that say it’s possible to create an MLS listing for a small fee, for a for sale by owner house.Are you suggesting there is some catch or that that is not actually possible?
The catch is realtors will not bring people to your house if you don't pay the commission, MLS listed or otherwise.
Most of my realtors said me to look at some sites and get back to them when I liked something.