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re: Selling my house. Why do I have to pay the buyer's agent?
Posted on 10/14/17 at 5:36 pm to EA6B
Posted on 10/14/17 at 5:36 pm to EA6B
The fact that agents get a percentage of the sales price, as opposed to a flat fee, is absolutely ridiculous. I'm a first time home buyer (currently searching), and it's amazing that this is customary. I'm all for agents making money, but making $7000-$9000 (based on houses in my area) per agent on houses that essentially sell themselves is insane.
This post was edited on 10/14/17 at 5:38 pm
3
Posted on 10/14/17 at 6:24 pm to Dayman
The real estate industry is a dinosaur in desperate need of being dragged into the current world similar to taxis prior to Uber. The US needs something like purplebricks. Real estate agents are close to worthless for most residential transactions with the massive amount of information available to anyone with a smart phone. Real estate agents and their inflated commissions will be dead before too long
Posted on 10/15/17 at 10:10 am to Dayman
Ok. Here’s where you don’t understand the business. The agent has a broker. The broker provides the agents office/desk and provides support. So the broker gets a cut and it isn’t a small cut. Additionally there are marketing costs associated
A good agent will hire a stager, pay for professional photos and pay for an inspection so items can be addressed before listing the house.
They don’t just get to pocket all of that money. There can be substantial costs involved.
Now. Should $60k be split because my house sells for $1M? I don’t think so but that’s a matter for a different discussion.
A good agent will hire a stager, pay for professional photos and pay for an inspection so items can be addressed before listing the house.
They don’t just get to pocket all of that money. There can be substantial costs involved.
Now. Should $60k be split because my house sells for $1M? I don’t think so but that’s a matter for a different discussion.
This post was edited on 10/15/17 at 10:14 am
Posted on 10/17/17 at 1:17 pm to Dayman
quote:
The fact that agents get a percentage of the sales price, as opposed to a flat fee, is absolutely ridiculous.
Real estate isn't the only industry like this. What about restaurants? Think about the waitress at Chili's that busts her arse for a $6-7 tip on a $40 ticket. Then consider the same amount of work (or less) might be done by a waitress at Ruth's Chris down the street while making $20-25 on a $100 serving the same amount of food and drink?
This board always seems to have a hatred for real estate agents without acknowledging all of the other industries that are very similar (food, auto, etc).
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