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re: Realtors are trash
Posted on 10/12/21 at 7:39 am to llfshoals
Posted on 10/12/21 at 7:39 am to llfshoals
I agree with the above. There are over 3k realtors in BR area but the top 10% do the majority of the business. Interview at least three realtors and let them present to you why you should use them. That alone will normally help narrow down who knows their shite and who doesn’t.
The biggest problem with realtors is that everyone has a friend or family member that is licensed so they feel obligated to use them. You are selling one of your biggest assets, use someone that is really good.
The biggest problem with realtors is that everyone has a friend or family member that is licensed so they feel obligated to use them. You are selling one of your biggest assets, use someone that is really good.
2
Posted on 10/12/21 at 7:57 am to LSU1018
I don't understand how realtors try and sell everyone on all the special advertising and listing sites that they have access to? If most people are using a realtor to find a home, then I really don't need to do that. Are you telling me realtors are not looking at Zillow or FSBO for homes? bullshite. They know exactly where to look. If realtors had their way, there would be 10 realtors involved in every transaction, and there would be no equity left after the sale. Realtors are one rung below car salesman and only because they think so highly of themselves.
Posted on 10/12/21 at 7:59 am to Guntoter1
quote:
FSBO
When will you people learn
B/c I'd rather pay someone to handle everything for me.
Posted on 10/12/21 at 8:02 am to Skip Winkman
7/10 realtors are sketchy trash.
About 1/10 are excellent.
2/10 are mediocre.
About 1/10 are excellent.
2/10 are mediocre.
Posted on 10/12/21 at 8:19 am to LSU1018
quote:
The biggest problem with realtors is that everyone has a friend or family member that is licensed so they feel obligated to use them.
This is one of the most accurate answers. The barrier to entry is soo low that you end up with a lot of trash in the system that the good realtors have to deal with constantly. Unfortunately the 7/10 comment above is pretty accurate.
Interview a couple of realtors. Look at their volume. You don't sell a lot of houses by being trash. The ones that are doing a lot of volume simply don't have time to bullshite and be shady. That's not to say all of the top producers are above board...but you're much less likely to run in to issues.
I get to watch all of this over my wife's shoulder. She busts her arse on the daily. She's got 6-7 deals going at a time and is generally working 7 days a week.
Posted on 10/12/21 at 8:48 am to ThermoDynamicTiger
quote:I’m in the top 10% of my MLS, and I don’t. I talk with other successful realtors and they don’t either. There’s always newbies trying to farm FSBO for listings, but I think it’s pretty useless to do that so I never tried it.
Are you telling me realtors are not looking at Zillow or FSBO for homes?
The only time I ever look at a FSBO is when a client wants to look at one, which is rare. I’m in multiple MLS services (which aren’t cheap) and have plenty to find with generally better information than you’re going to find on Zillow.
Posted on 10/12/21 at 8:49 am to VolsOut4Harambe
Having a valuable realtor is a huge advantage. Creative deal making, personal lender relationships, etc.
When we bought our last property there were all sorts of weird things going on that needed professionals to come out, as well as wanting assessments from pool contractors, tree removal folks, etc. She met with probably 90% of those folks without either of us being there. Hell I think she made the list of vendors/contractors to contact and did all the scheduling.
When we bought our last property there were all sorts of weird things going on that needed professionals to come out, as well as wanting assessments from pool contractors, tree removal folks, etc. She met with probably 90% of those folks without either of us being there. Hell I think she made the list of vendors/contractors to contact and did all the scheduling.
Posted on 10/12/21 at 8:54 am to kennypowers
quote:I drafted my wife to help with the paperwork when I hit 10 under contract at the same time. Couldn’t keep up with everything and deliver the level of service my clients expect.
I get to watch all of this over my wife's shoulder. She busts her arse on the daily. She's got 6-7 deals going at a time and is generally working 7 days a week.
I joke all the time I never know what day it is, just that they all end with a Y. I went through June and July and had 2 days total I didn’t show on.
Posted on 10/12/21 at 9:02 am to Pettifogger
quote:That part gets left out of a lot of people’s thought process.
She met with probably 90% of those folks without either of us being there. Hell I think she made the list of vendors/contractors to contact and did all the scheduling.
Some deals are really simple, some require a lot more work and I’ve got a list of contractors (several options to choose from) for just about everything.
Posted on 10/12/21 at 9:07 am to atxfan
quote:
The realtor has every incentive to get a deal closed. An extra $10-20K on the sales price isn't going to affect the commission enough to jeopardize a deal.
Eh, this assumes that the realtor has a steady stream of sales and has one ready in the queue to move onto. The reality is many realtors are doing this for supplemental income and go long periods in between sales and do actually care about a few hundred extra dollars in their pocket.
And many realtors are simply not very intelligent and would push to maximize a deal at the risk of losing it.
Posted on 10/12/21 at 9:14 am to Skip Winkman
Let me guess it was a listing that wasn't available yet and she let you view it before it was officially listed? Yeah that is one of a few tricks they use to manipulate. Creating urgency is a good tactic if you know hoe to use it.
Posted on 10/12/21 at 9:32 am to stelly1025
That is exactly what happened…it is pitiful
Posted on 10/12/21 at 1:06 pm to stelly1025
I think the man made urgency has killed any chance of buying a home fair and ethical
Posted on 10/12/21 at 1:19 pm to Skip Winkman
I have found most realtors are more concerned about playing nice with their peers than actually fighting for their customers.
Posted on 10/12/21 at 1:21 pm to llfshoals
lifshoals, I'm curious to hear your thoughts on the compensation structure? Do you think it's fair to charge a seller 6% on a million dollar home that is in a hot market while charging that same percentage to someone selling a $200,000 home that needs work in a stale market? Tell me why charging a flat fee, regardless of the home's value, doesn't make more sense?
Posted on 10/12/21 at 1:37 pm to Tridentds
quote:
So on a house that went for an extra $5000 the commission to the broker is $1500 and the realtor who dealt with it will make $900 to $1050.
Your numbers are off by a factor of 10. A selling price of an extra $5,000 would yield an additional $150 commission to the broker and $90-105 to the realtor.
Posted on 10/12/21 at 1:55 pm to GetCocky11
quote:
That was my first thought when reading OP. Why would a realtor sabotage their own deal?
“I’ll risk my livelihood over 3% of $20,000 in the hottest real estate market ever”
- Every realtor according to the O-T real estate haters
Posted on 10/12/21 at 2:23 pm to llfshoals
If you so busy get off here in the middle of the day.
Posted on 10/12/21 at 2:26 pm to El Segundo Guy
A lot of realtors here in the OT. Just closed on that pocket listed property and saved a lot of money. No one wants a For Sale sign or a MLS on certain commercial property.
Posted on 10/12/21 at 3:10 pm to Crusty
The thing to remember is it’s a negotiated rate. On a listing I’ve done everything from 4% to 10%. (3% if I have a buyer already in place on new construction)
Frankly I do more work on the 200k that needs work to get it to closing. The sellers on those are less likely to be able to pay a higher commission. I don’t make a lot on them, but I give the same service to someone buying a 10k lot as I do buying a million dollar home. I’m not going to starve if I don’t sell anything for a few years so I have the luxury to focus on my clients and not a paycheck.
The million dollar sales they’re paying for convenience. What’s their time worth to them. Generally their time has a lot higher value to them, so paying someone else to handle the details they’re good with.
Flat fees I’m not a fan of. You’d have to scale them to cover the increased liability cost and level of responsibility, so you might as well leave it as a commission based service.
Frankly I do more work on the 200k that needs work to get it to closing. The sellers on those are less likely to be able to pay a higher commission. I don’t make a lot on them, but I give the same service to someone buying a 10k lot as I do buying a million dollar home. I’m not going to starve if I don’t sell anything for a few years so I have the luxury to focus on my clients and not a paycheck.
The million dollar sales they’re paying for convenience. What’s their time worth to them. Generally their time has a lot higher value to them, so paying someone else to handle the details they’re good with.
Flat fees I’m not a fan of. You’d have to scale them to cover the increased liability cost and level of responsibility, so you might as well leave it as a commission based service.
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