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re: Real estate agents, are they really needed anymore?
Posted on 7/31/21 at 11:08 am to llfshoals
Posted on 7/31/21 at 11:08 am to llfshoals
quote:
If you’re a seller, are you pricing it right? If you’re not, it will sit there.
What is this scare tactic? There are houses listed with agents that will sit there.
1
Posted on 7/31/21 at 11:08 am to Turf Taint
quote:
Dubious point #2
quote:
Are you going to be at the house all the time to show it?
To your point, strong seller’s market now - seller says, “Nah, your arse will be here at X time or GFY.” Buyer: “Yessuh, massa sir.”
Posted on 7/31/21 at 11:11 am to AmosMosesAndTwins
quote:
To your point, strong seller’s market now - seller says, “Nah, your arse will be here at X time or GFY.” Buyer: “Yessuh, massa sir.”
You will see my house at 3:30am on Wed and like it
Posted on 7/31/21 at 11:18 am to PeteRose
quote:No, it’s called a fact.
What is this scare tactic? There are houses listed with agents that will sit there.
Listings will sit there sometimes. Either the seller wants it priced there, or it’s an area that moved very slowly. There’s a listing I know that will sit there for a long time or they drop it. Agent recommended a price, seller insisted on the list price.
Posted on 7/31/21 at 11:21 am to flip82lsu
For now, opendoor,redfin, and etc can make them obsolete in the future
This post was edited on 7/31/21 at 11:22 am
Posted on 7/31/21 at 11:26 am to Turf Taint
quote:
You will see my house at 3:30am on Wed and like it
Oh, you and your wife have uncertain healthcare schedules and a one year old? Be here at 8p, I gotta dig in my belly button and watch LSU until then. Oh, hi, welcome, I’m going to sit outside and you’ll show your own goddamn self around. You can totally open the closets, but we both know it’s super weird for you to rummage through my kids’ underwear alone in my house.
Posted on 7/31/21 at 11:44 am to flip82lsu
A house or other piece of property for that matter is a big purchase that can get emotional for each party. There are also important steps and documents that are required to sell a piece of property that are beyond the comprehension of most people.
Are they necessary for marketing and finding a property? No not really.
Are they useful in facilitating sales? They can be for certain people. Commissions can be pretty outrageous for the amount of work they do though. It’s a bad system
Are they necessary for marketing and finding a property? No not really.
Are they useful in facilitating sales? They can be for certain people. Commissions can be pretty outrageous for the amount of work they do though. It’s a bad system
Posted on 7/31/21 at 11:47 am to flip82lsu
Being out of town and trying to sell house they have been needed.
Posted on 7/31/21 at 11:47 am to llfshoals
quote:
Are you hiring an attorney to make sure your interests are protected?
No, but let’s not act like you studied contract law in your 5 day real estate class.
quote:
Then there’s the title work and closing company. You handling that?
No, as someone who has bought or sold over 20 multi family properties, I call my banker and tell him how much I need and when I want to close by. I did it the same when I built my personal residence. Title attorneys are self sufficient, and they don’t need some agent telling them what to do.
quote:
If they aren’t looking at yours today, a realtor is probably showing them another one.
If the market is that hot, it doesn’t matter.
Posted on 7/31/21 at 12:09 pm to OceanMan
quote:As someone who has bought and sold quite a few homes with both Agents and via FSBO, their value is worth about 2%, not 6%.
Commissions can be pretty outrageous for the amount of work they do though. It’s a bad system
But if you ever want an awkward conversation tell an agent you will pay 2% not 6
Posted on 7/31/21 at 12:27 pm to llfshoals
Everything you list below, drafting the contract, coordinating with title, coordinating inspections are all things realtors were doing before realtor/zillow to earn their commissions. But the simple fact is a major function of realtors - finding and curating properties for buyers and marketing homes for sellers - has been completely disrupted by tech and search engines. But this elimination of function has not yet been reflected in a reduction in commissions.
How do you defend the same commission for less services?
How do you defend the same commission for less services?
Posted on 7/31/21 at 2:02 pm to ned nederlander
quote:if all realtors did was go see houses a buyer says they want to I’d agree with you.
How do you defend the same commission for less services?
That does happen, but for my clients most of the properties I show are ones I find for them. I showed 548 properties last year, (4 today so far) so you can see i at least am pretty busy.
So my clients are getting full service. But let’s say you don’t think that has the same value. I know how many hours I work (60 plus a week) but there’s no reason you should have expected to know that. But for the sake of argument let’s accept your premise.
Why aren’t you negotiating that rate? You can you know. I do so pretty frequently in order to make deals fit for my clients.
I’ve listed properties for flat rate, full rate and everywhere in between. Again, it’s negotiable.
Almost forgot. Who do you think pays for Zillow?
Realtors like me who buy zip codes.
This post was edited on 7/31/21 at 2:04 pm
Posted on 7/31/21 at 2:02 pm to OceanMan
quote:
Commissions can be pretty outrageous for the amount of work they do though
I don’t think you quite understand 100% the role of an agent and how much work good ones put in. Don’t forget all the work they do for clients who flake out, don’t buy, etc that they don’t get paid on. I’m glad there are so many in here that are so well rounded that they have no need for guidance on contract terms, pricing, inspection items, etc.
Posted on 7/31/21 at 2:35 pm to TJG210
quote:
I don’t think you quite understand 100% the role of an agent and how much work good ones put in.
I am a real estate agent
Eta: I don’t do it professionally
This post was edited on 7/31/21 at 2:36 pm
Posted on 7/31/21 at 2:37 pm to TJG210
quote:
Don’t forget all the work they do for clients who flake out, don’t buy, etc that they don’t get paid on.
So the one who do by through them should have to subsidize their work for others? Not happening.
The only time a realtor is worth it is for bringing in off market deals on large commercial properties.
Posted on 7/31/21 at 2:41 pm to TJG210
quote:
I don’t think you quite understand 100% the role of an agent and how much work good ones put in
On the seller side, there may be more value but on the buying side it’s absolutely a racket.
I took our guy to the house we wanted to buy, I negotiated the agreement, I negotiated the repairs and sourced the contractors. He didn’t even know what half the items were on the inspection report. I had to do the research to find out if it’s something I should negotiate.
And this is from some guy who was recommended. All that slap dick did was show up to collect his commission check. And he couldn’t even be on time for that.
I rather make mistakes and figure things out myself then ever pay one of those shysters 6%.
Commercial property probably a completely different animal.
Posted on 7/31/21 at 2:43 pm to TJG210
quote:
Contract terms, pricing, inpection
The standard commission rate of 3% for listing and buyer agents is just not justified most of the time.
Last inspection conversation I had w/my
RE agent went something like this…
Agent: “You have until MM/DD/YYYY to complete inspection repairs list”
Me: “I read the contract. Thanks”.
Posted on 7/31/21 at 2:55 pm to flip82lsu
OP has never had to sell a house.
Posted on 7/31/21 at 3:01 pm to Turf Taint
quote:So when you miss something that was in the contract your agent didn’t make sure was done are you going to blame them, or yourself?
Me: “I read the contract. Thanks”.
Hint…,that was your agent doing a small part of their job
Posted on 7/31/21 at 3:08 pm to DiamondDog
quote:
I took our guy to the house we wanted to buy, I negotiated the agreement, I negotiated the repairs and sourced the contractors. He didn’t even know what half the items were on the inspection report. I had to do the research to find out if it’s something I should negotiate.
Sounds like you hired a shitty one. What you said was akin to saying I had a doctor misdiagnose me, I guess I should have just gone to Walgreens and popped some cough drops and Allegra.
Everything you listed above I do for my client and make helpful suggestions/hints.
Most clients I show on average 5-10 houses to.
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