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2
Posted on 12/8/11 at 12:09 pm to Tiger JJ
quote:
I'd say that's a mite bit more important than "are you sure you are all properly lathered up to borrow money?".
Not to a realtor. It's a waste of time for the realtor, the buyer, and the seller to show a house to someone who is not pre-qualified. I loved my realtor when we were selling, because she didn't bring in anyone who wasn't pre-qualified. She said it's the sign of a shady or ignorant realtor to do otherwise.
quote:
Never tell the realtor how much you are prequalified to get.
True. Just tell them how much you are willing to spend, which is rarely the max of the qualified borrowing amount. For example, if you're qualified for $200K, then you can probably only afford to borrow about $130-150K. Also note that the realtor might show you houses slightly above your max, if he/she thinks you can chew them down a bit.
Posted on 12/8/11 at 12:16 pm to Tiger JJ
Jersey, you are one of my favorite posters but MAN do you have issues with the real estate industry.
I can tell you, first hand, that you are in a unique position with your apparent knowledge and understanding of real estate, markets, finance, and how a transaction is supposed to work. Not everyone in the marketplace shares your same level of knowledge or experience, and many of those "others" would benefit from the value and experience of a licensed agent. Of course, there are exceptions in all cases but man do you paint with a broad arse brush!
I mean, look at Zilla for example. He is about to make the biggest financial decision of his life and he is asking questions of the MB to get help! While it may work out for him in the end, sometimes it helps to have someone in your corner who knows what the hell they are doing.
I can tell you, first hand, that you are in a unique position with your apparent knowledge and understanding of real estate, markets, finance, and how a transaction is supposed to work. Not everyone in the marketplace shares your same level of knowledge or experience, and many of those "others" would benefit from the value and experience of a licensed agent. Of course, there are exceptions in all cases but man do you paint with a broad arse brush!
I mean, look at Zilla for example. He is about to make the biggest financial decision of his life and he is asking questions of the MB to get help! While it may work out for him in the end, sometimes it helps to have someone in your corner who knows what the hell they are doing.
Posted on 12/8/11 at 12:20 pm to Shankopotomus
I feel like I've heard you say you're a real estate agent before. Just feels like you should disclose that when you're talking about such a thing, no? If not then MY B.
This post was edited on 12/8/11 at 12:21 pm
Posted on 12/8/11 at 12:25 pm to kfizzle85
I was just offering my 2 cents
And I am an appraiser so I understand the business pretty well from different perspectives. Believe me, I have seen what a good real estate agent can do for you and I of course have seen what a bad one can cost you. no different than most licensed professions IMO
And I am an appraiser so I understand the business pretty well from different perspectives. Believe me, I have seen what a good real estate agent can do for you and I of course have seen what a bad one can cost you. no different than most licensed professions IMO
Posted on 12/8/11 at 12:27 pm to Shankopotomus
quote:
but MAN do you have issues with the real estate industry.
It's true. I am continually amazed at how it's one of the few middlemen the internet hasn't yet destroyed - or at least revalued to a fair price.
quote:
Not everyone in the marketplace shares your same level of knowledge or experience, and many of those "others" would benefit from the value and experience of a licensed agent. Of course, there are exceptions in all cases but man do you paint with a broad arse brush!
I have no problem whatsoever with people seeking agent representation when buying or selling a house. No problem at all. What I am arguing against is the inertia, laziness, deception and poorly structured incentives for agents that are currently endemic to the industry.
quote:
I mean, look at Zilla for example. He is about to make the biggest financial decision of his life and he is asking questions of the MB to get help! While it may work out for him in the end, sometimes it helps to have someone in your corner who knows what the hell they are doing.
And I would direct you to the first realtor that came into the thread and "advised" him to not even broach the topic with the listing agent. Now come on, man. That is not advice. That is the typical, self-serving nonsense that I am always railing against.
Posted on 12/8/11 at 12:35 pm to Tiger JJ
quote:
It's true. I am continually amazed at how it's one of the few middlemen the internet hasn't yet destroyed - or at least revalued to a fair price.
This trend is already well underway, it is coming believe me. Change takes time, the market has to move with it. I saw some numbers recently on a national scale, it was STAGGERING how few real estate brokerages are still turning profits in this country. The market is bad, there are lots of bad agents, the overhead is too high, etc.
quote:
What I am arguing against is the inertia, laziness, deception and poorly structured incentives for agents that are currently endemic to the industry.
This is leftover from the boom in my experience. agents got used to signing the listing, placing a sign in the yard, and Bam! the house sold itself. Those days, to put it mildly, are OVER and many agents need to get with the program or get out.
quote:
And I would direct you to the first realtor that came into the thread and "advised" him to not even broach the topic with the listing agent. Now come on, man. That is not advice. That is the typical, self-serving nonsense that I am always railing against.
What's interesting about this, is the first real estate agent who commented owns exactly the type of company (from what I understand) that is trying to change the model one market at a time. It is intriguing, really.
Posted on 12/8/11 at 12:47 pm to Tiger JJ
quote:
It's true. I am continually amazed at how it's one of the few middlemen the internet hasn't yet destroyed - or at least revalued to a fair price.
Hasn't it? Discount brokers have been around for at least 10 years. A lot of the traditional firms have gone by the wayside and when I sold my last home it was only a 6% listing if there were agents on both sides of the transaction. If my listing agent brought a buyer to the table the fee was to be dropped to 4%.
This is in northern Virginia near Washington, DC.
Posted on 12/8/11 at 12:59 pm to VABuckeye
quote:
only a 6% listing
That's "discount"?
Posted on 12/8/11 at 1:11 pm to Tiger JJ
No, I went with a traditional broker. However, there are discount options available in the area.
Posted on 12/8/11 at 2:00 pm to VABuckeye
So what did you mean by "only"?
Posted on 12/8/11 at 2:20 pm to Tiger JJ
What I said. If there were agents on both sides of the transaction it was a 6% listing. That is what I meant when I said it was "only" a 6% listing if agents were present on both sides. I think it was worded well enough that this was clear.
Posted on 12/8/11 at 2:22 pm to VABuckeye
Gotcha.
Posted on 12/8/11 at 3:24 pm to Tiger JJ
quote:
re: Are realtors worth it? Posted by JerseyTiger on 12/8 at 11:41 am to LSU1018 quote: I think realtors are definitely worth it from a buyers perspective since you are not paying them anything. YES YOU ARE Post Reply • Back to Top
I guess I'm missing it. I bought a house that was listed with a realtor. The seller was paying their realtor 5%. Since I had my own realtor, the commission was split 2.5% to each so I guess I don't see where you are coming from about the buyer paying it. The commission comes off the seller proceeds.
Posted on 12/8/11 at 7:16 pm to LSU1018
quote:
seller proceeds.
Which come from where?
Posted on 12/8/11 at 8:22 pm to jameison125
According to my ever growing client base and the free market, yes, I am worth it.
JT, There will always be independent contractors in every line of work that do not do their clients justice. Those individuals don't last very long.
Shank, I'll agree, the were a few years where many agents (I'm sure appraisers as well) became spoiled by the ease and amount of income.
There I was the whole time listening to kooky Ron Paul and Peter Schiff!
JT, There will always be independent contractors in every line of work that do not do their clients justice. Those individuals don't last very long.
Shank, I'll agree, the were a few years where many agents (I'm sure appraisers as well) became spoiled by the ease and amount of income.
There I was the whole time listening to kooky Ron Paul and Peter Schiff!
Posted on 12/8/11 at 9:04 pm to ItNeverRains
Well then.
Posted on 12/8/11 at 10:07 pm to jameison125
I don't understand the question. If you are shopping for a house you don't pay the realtor any money. You know this right? A realtor's service is free to the buyer. The seller pays the realtor. If you are looking at a house that's for sale by owner then no a realtor is not worth it. Don't pay a realtor ever is my advice. I sold 2 homes without a realtor and bought 2 homes with a realtor(seller paid the commission).
Posted on 12/8/11 at 10:15 pm to peopleschamp
quote:
I don't understand the question. If you are shopping for a house you don't pay the realtor any money. You know this right? A realtor's service is free to the buyer. The seller pays the realtor. If you are looking at a house that's for sale by owner then no a realtor is not worth it. Don't pay a realtor ever is my advice. I sold 2 homes without a realtor and bought 2 homes with a realtor(seller paid the commission).
This seems almost like an intentional troll job.
Posted on 12/9/11 at 5:04 am to peopleschamp
JT's argument is the price of the house is higher because the commission is built in, and would sell cheaper and both parties come out better in the end without realtor. This can very well be the case, but to make it scientific law as JT does is comical.
It's an armchair quarterback attempt at real estate
It's an armchair quarterback attempt at real estate
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