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re: How often do you think realtors collude with each other?
Posted on 2/27/25 at 5:42 pm to cubsfan5150
Posted on 2/27/25 at 5:42 pm to cubsfan5150
Want a decent agent?
Hire a dude.
Hire a dude.
1
Posted on 2/27/25 at 5:47 pm to blueboxer1119
I want to cuddle with her
Posted on 2/27/25 at 6:11 pm to ClusterCock
bullshite. The crazy clients who can't communicate usually dictate the cost.
Posted on 2/27/25 at 6:14 pm to ProjectP2294
quote:
I believe there was some research to suggest that sellers agents aren't always interested in getting the most they can for a particular house.
They're more interested in a sure sale, and the extra work required for an additional 3% of 5 or 10k isn't worth it to them.
100% this. We finally bought a house last year after losing out to several LOWER offers, sometimes as much as 20k lower. We were putting 25% down but they were cash buyers.
Posted on 2/27/25 at 6:17 pm to ClusterCock
quote:
Divorce lawyers do the same thing. They've worked out a loose framework for settlement on the golf course and drinks afterwards.
Must be nice billing the client for 4 hours on the golf course. Does each attorney bill their client separately and tack on lunch at the club house, dinner, beers, green fees, and cart fees in the final bill on a hidden line item?
Or do they just charge it to the Underhill account?
This post was edited on 2/27/25 at 6:22 pm
Posted on 2/27/25 at 6:21 pm to cubsfan5150
I don't know if they actually "collude."
It's just that they want to close the deal because it's not worth it to them to spend an extra 3 days exchanging offers to improve their client's position by another 2-3%. That money is worth a lot less to them than it is to you; meanwhile the risk to them if the deal evaporates, is a lot higher than it is to you. Everybody should understand this going in. You don't have to take all their advice, any more than you have to listen to any salesperson.
I recall in the book Freakonomics, studies have been done that show when realtors work on buying and selling their own houses, they fight a lot harder.
It's just that they want to close the deal because it's not worth it to them to spend an extra 3 days exchanging offers to improve their client's position by another 2-3%. That money is worth a lot less to them than it is to you; meanwhile the risk to them if the deal evaporates, is a lot higher than it is to you. Everybody should understand this going in. You don't have to take all their advice, any more than you have to listen to any salesperson.
I recall in the book Freakonomics, studies have been done that show when realtors work on buying and selling their own houses, they fight a lot harder.
Posted on 2/27/25 at 7:07 pm to cubsfan5150
People need to understand a real estate an agent does not represent you. They represent the deal.
A nutless chimpanzee can do this as well. But alas, most people need reassured and their hand held by someone who drives an unpaid for Lexus.
A nutless chimpanzee can do this as well. But alas, most people need reassured and their hand held by someone who drives an unpaid for Lexus.
Posted on 2/27/25 at 8:52 pm to ExtraGravy
quote:
I recall in the book Freakonomics, studies have been done that show when realtors work on buying and selling their own houses, they fight a lot harder.
And that's completely normal. One of the important things you are buying with an agent is they have no emotional attachment to the deal and can help give clear guidance when things get messy.
My wife had a seller kill a deal 2 days before closing because they didn't like how the buyer spoke to them about one of the repairs they had already paid for. Instead of closing in 2 days now you get to start the process all over again. Moral of the story is that some people are completely incapable of controlling their own emotions. You've all met them at the grocery store or the DMV. Guess what? Those people are out there buying and selling houses too.
This post was edited on 2/27/25 at 8:56 pm
Posted on 2/27/25 at 8:55 pm to Koach K
quote:
People need to understand a real estate an agent does not represent you. They represent the deal.
A nutless chimpanzee can do this as well. But alas, most people need reassured and their hand held by someone who drives an unpaid for Lexus.
Your first statement is patently false but your second statement is 1,000,000% true. There are so many people out in the world that are scared to make decisions and are willing to give significant sums of money to people to have their hand held. Why do you think therapists make as much as they do? They are just sitting there listening to you piss and moan.
Posted on 2/27/25 at 9:00 pm to fareplay
quote:
I bet this happens a lot. Always a “bidding war” but nobody else at open house
On a house I was trying to purchase I got the “we are expecting an offer any moment from a very interested couple” from the selling agent. This was after I made a fair offer and they made a counter offer.. I HATE when someone tries to pull that trick on me like I’m stupid.
I told the agent, “tell the couple to enjoy their new home. I reject the counter offer”. That house stayed on the market another 6 months.
Posted on 2/27/25 at 10:33 pm to cubsfan5150
I work with agents everyday and while I can't say this happens I can say, in my area at least it doesn't happen often. I have never seen or even suspected it was happening.
Agents typically want to do what is best for their clients so they are happy and will refer family and friends
Agents typically want to do what is best for their clients so they are happy and will refer family and friends
Posted on 2/27/25 at 10:51 pm to cubsfan5150
Have bought two houses and sold one, each with a different realtor. The first two were absolutely horrible. I could totally buy the first colluded with the seller’s agent. The one I had to sell that house was a total idiot who I have no doubt cost us $15-20k. For the third one I used my best friend of 30 years even though we were outside his normal area, and it was the best process I could have hoped for. We got our top choice house for asking, and he facilitated all things needed to get closing done in under 30 days.
Posted on 2/27/25 at 10:53 pm to lsufball19
quote:
A divorce lawyer would be incentivized to take every case to trial as they're just billing hourly. Getting people to settle helps them none. Yet almost all cases settle nonetheless. If you really want to spend an extra $30k in litigation to argue about the division of $20k, then I'm sure any divorce attorney would gladly oblige. So even if they are “settling a case in the golf course,” that’s prob the best for the parties and no so much for their bottom line
^^ every fricking time ^^. Clients hate paying lawyers. When Mommy or Daddy are paying the bill, their child will want an all out war. But in the end that fill in the blank settlement solved their problems and ol Dad isn’t out $30K just so his princess could prove a point.
Posted on 2/28/25 at 8:51 am to Flyingtiger82
quote:
When Mommy or Daddy are paying the bill, their child will want an all out war.
At least when mommy or daddy are paying the bill, I am more confident I'll actually get paid on a case. Clients love to think that because you provide a service and they need help that you should just waive most of your fees, ignoring the fact that this is literally how you earn a living. I always ask them, "if your boss told you that he wasn't going to pay you for 3 months but he really needed your help, would you be cool with it?"
But the guy thinking it's somehow a knock on attorneys that they can get cases settled amongst themselves is hilarious. Yeah, no shite. Most litigants are emotional children during divorce cases and would rather burn their ex to the ground out of spite than actually listen to reason. They think the court actually cares why your marriage broke down and who is the bigger a-hole.
This post was edited on 2/28/25 at 8:54 am
Posted on 2/28/25 at 8:57 am to cubsfan5150
I remember the office keeping the cabinet with offers/pending sales locked so nobody would know what other people's clients were willing to pay/take.
The buyer's agent wants to get you a better deal. Commissions were usually 6/4 and most houses are over $100k so getting an extra $200 (which is then split with the broker) isn't worth getting you to pay $5000 extra
The buyer's agent wants to get you a better deal. Commissions were usually 6/4 and most houses are over $100k so getting an extra $200 (which is then split with the broker) isn't worth getting you to pay $5000 extra
Posted on 2/28/25 at 9:28 am to lionward2014
Agents try to feel each other out to see if they can get a deal done with the clients they each have. I have worked some great deals for some clients. I have had other times where the client HAD to have THAT property. Those deals aren't usually as good because it isn't in my clients interest for the seller to get frustrated. Although I would say that with the market turning its going to be a lot easier to work those deals for buyers.
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