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Message
re: How do realtors get paid?
Posted on 10/18/16 at 8:23 am to foj1981
Posted on 10/18/16 at 8:23 am to foj1981
and how many homes have you bought and sold?
You think you saved money by listing FSBO -- but you didn't. You probably shorted yourself on the original listing price, as you don't have the market insight or know what adds/subtracts value.
Plus, anyone who buys FSBO just takes $10,000 right off the top, as they know you are not paying a realtor.
All you have done is force yourself to do all the work, make yourself more legally responsible, and more than likely.....
took a smaller net. Why?? because your buyers probably had their own agent -- which you just had to pay at least 2.5% to....
I have bought and sold over 30 + houses, and I did not use a realtor for about the first 8-10...
and I was a fool.
Realtors typically pay for themselves.
The ONLY WAY it is better, is if you happen to try and sell FSBO and then get lucky enough to get a buyer without an agent. This is probably less than 2% of all real estate transactions.
Good luck.
You think you saved money by listing FSBO -- but you didn't. You probably shorted yourself on the original listing price, as you don't have the market insight or know what adds/subtracts value.
Plus, anyone who buys FSBO just takes $10,000 right off the top, as they know you are not paying a realtor.
All you have done is force yourself to do all the work, make yourself more legally responsible, and more than likely.....
took a smaller net. Why?? because your buyers probably had their own agent -- which you just had to pay at least 2.5% to....
I have bought and sold over 30 + houses, and I did not use a realtor for about the first 8-10...
and I was a fool.
Realtors typically pay for themselves.
The ONLY WAY it is better, is if you happen to try and sell FSBO and then get lucky enough to get a buyer without an agent. This is probably less than 2% of all real estate transactions.
Good luck.
This post was edited on 10/18/16 at 8:25 am
Posted on 10/18/16 at 8:25 am to Balloon Huffer
quote:
if you happen to try and sell FSBO and then get lucky enough to get a buyer without an agent. This is probably less than 2% of all real estate transactions.
admit. You made this up.
Posted on 10/18/16 at 8:26 am to Balloon Huffer
quote:
Balloon Huffer
F'ing this!
Posted on 10/18/16 at 8:35 am to Balloon Huffer
Real Estate agents aren't a "waste" of money but there is a ton wrong with the system.
1) They use to control the information, now comps are readily available to the general public. They lord this over you, if you are moving to a different state, I get it, but if you've lived their 5 years it's not as big a deal.
2) Paying a straight percentage of the sale value is absurd. They should get paid on the value they add. Their incentives aren't line up with yours, they are incentivized to sell quickly.
Say you have a 300k house and they would make 2%, that's 6k. You get an offer for 280k, they think you should take it. You think your house is priced fair. You would lose 20k in the deal she loses 400 bucks.
Your dog could get 250k for the house, I think their commission should be a flat fee, plus some sort of bonus for speed of sell and price in excess of what anyone could get.
1) They use to control the information, now comps are readily available to the general public. They lord this over you, if you are moving to a different state, I get it, but if you've lived their 5 years it's not as big a deal.
2) Paying a straight percentage of the sale value is absurd. They should get paid on the value they add. Their incentives aren't line up with yours, they are incentivized to sell quickly.
Say you have a 300k house and they would make 2%, that's 6k. You get an offer for 280k, they think you should take it. You think your house is priced fair. You would lose 20k in the deal she loses 400 bucks.
Your dog could get 250k for the house, I think their commission should be a flat fee, plus some sort of bonus for speed of sell and price in excess of what anyone could get.
This post was edited on 10/18/16 at 8:38 am
Posted on 10/18/16 at 9:20 am to Balloon Huffer
I get how a realtor is helpful, but on my last home sale, I listed FSBO, had a realtor bring me a buyer, she did all the paperwork and I gave her 3%. Saved myself 3%. It was quite easy.
Not sure why people aren't doing that all the time.
Not sure why people aren't doing that all the time.
Posted on 10/18/16 at 10:17 am to Balloon Huffer
I have sold two houses in the past 20 years and never used a realtor.
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