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Started By
Message
Has anyone ever heard of someone paying over 10% commission to a real estate broker?
Posted on 3/22/18 at 9:46 am
Posted on 3/22/18 at 9:46 am
Just noticed that proposed legislation in the Louisiana Senate allows one state agency to pay up to 25% commission on land that it sells.
Just thought the cap seemed a bit high but the state senator is a real estate agent and I am not.
LINK
quote:
Provides for payment of a commission not to exceed 25% of the property's sales price to the broker when the property is sold.
Just thought the cap seemed a bit high but the state senator is a real estate agent and I am not.
LINK
4
Posted on 3/22/18 at 9:48 am to BeepNode
I would imagine low end deals like foreclosures on $15k trailers on 1/4 acre likely have minimums.
Posted on 3/22/18 at 9:48 am to BeepNode
Got include some extra for skim and graft.
6% commission
5% campaign contributions
5% kickbacks
4% local government payments
5% under the table rebate to buyer
6% commission
5% campaign contributions
5% kickbacks
4% local government payments
5% under the table rebate to buyer
This post was edited on 3/22/18 at 9:52 am
Posted on 3/22/18 at 9:52 am to BeepNode
Some foreclosure pieces of crap pay a flat dollar amount that probably comes out to more than 25%
Posted on 3/22/18 at 11:26 am to chinhoyang
Senator Bodi White is presenting legislation right now and he brought his sister to speak in support of it. Good grief. 
Posted on 3/22/18 at 11:58 am to BeepNode
6% on people’s largest asset is absurd.
Posted on 3/22/18 at 12:01 pm to Man4others
quote:
6% on people’s largest asset is absurd.
Agreed, especially with the technology we have in place now that makes selling a home about 100x easier. If you pay more than 1% to list your house you're throwing money away.
Posted on 3/22/18 at 12:05 pm to BeepNode
I have more of a problem with real estate agents and brokers continuing to engage in price fixing to maintain the "standard" 6% commission. If a realtor has a reputation that enables them to demand 10% or more for their services then that is what the market has determined, collusion among competitors to establish a minimum price for services would be illegal in any other business.
Posted on 3/22/18 at 12:21 pm to EA6B
Agreed. Nobody is monitoring RE agents communications and it’s pretty clear RE agents collude to get a sale done. These conversations probably happen all the time “My clients bid is X but my client has told me privately they are willing to go to Y, lets make a deal”
Posted on 3/22/18 at 12:44 pm to Man4others
quote:
These conversations probably happen all the time “My clients bid is X but my client has told me privately they are willing to go to Y, lets make a deal”
As someone who is actual agent, I can say that I've never had any other agents do anything even remotely close to this in one of our conversations. My duty first and foremost is to my clients and to get them the best deal. By doing so in a professional manner, I will make more money with the referrals and future business that they will provide in the future if I'm doing my job properly. That in itself is worth more then trying to illegally get a few extra bucks from one singular deal.
This post was edited on 3/22/18 at 12:45 pm
Posted on 3/22/18 at 1:19 pm to pakowitz
There was an old, empty transmission shop near the KCS tracks in Shreveport (which since collapsed during a storm and was removed) that was listed. No one would want that business. I was told the listing agent would always say "we've just had an offer" every time someone called.
I had a client that had an interest if it was cheap (it wasn't). When I called, the agent said "get back with me as soon as you can I've had two offers."
I just said "no, you haven't, I'm standing by that building and I guarantee you have no pending offer on it." Silence.
I said "thank you" and hung up.
I had a client that had an interest if it was cheap (it wasn't). When I called, the agent said "get back with me as soon as you can I've had two offers."
I just said "no, you haven't, I'm standing by that building and I guarantee you have no pending offer on it." Silence.
I said "thank you" and hung up.
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