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re: Real estate agents, are they really needed anymore?
Posted on 8/1/21 at 7:15 pm to SaintsTiger
Posted on 8/1/21 at 7:15 pm to SaintsTiger
quote:
Admit it. Almost all your work is in prospecting for new customers.
It isn’t, most of my clients are referrals and repeat business. In addition to residential buyers, I do a lot of work for investors.
1
Posted on 8/1/21 at 7:33 pm to flip82lsu
I think good agents are worth it for high end deals
There’s just so many bad agents that they give the industry a bad rap
There’s just so many bad agents that they give the industry a bad rap
Posted on 8/1/21 at 7:48 pm to TJG210
quote:
TJG210
Im glad you think so highly of yourself. I have a professional license that requires an advanced degree. Anything I provide my clients, they can do themselves if they want to, I'm under no illusion of that. In fact, I think it's crazy the hourly rate they pay us for some of the shite we do.
You took a 3 day class from some Grant Cardone mother fricker and pull form contracts to be docusigned and you think you're reinventing the wheel.
Real estate agents can be valuable. Like I said, I used one, but I can absolutely do everything they did pretty easily, and almost certainly will in the future.
Posted on 8/1/21 at 7:55 pm to TJG210
quote:
It isn’t, most of my clients are referrals and repeat business. In addition to residential buyers, I do a lot of work for investors.
I definitely see the value add for investors and others who need access to off market deals. Also out of town buyers.
Just don’t see it for the standard single family home deal unless the parties simply don’t have the time to fool with it. Fees should be lower for that. The US has the highest transaction costs in the world!Hence Redfin and the like are popping up to meet the market demand.
Posted on 8/1/21 at 8:25 pm to Jaspermac
quote:
I see it like doing my taxes. Can I hire a CPA and get everything done correctly in a timely manner and pay for a professional job or can I just do my taxes online and figure it out as I go?
When I used a CPA they didn’t base their fee on a percentage of my income.
Posted on 8/1/21 at 8:31 pm to Mingo Was His NameO
quote:
I used an agent because things move so fast in my area, but you are overcompensating what you do severely. Anything you do can be found online, whether someone want to spend the time doing it is up to them, but you don't have some magic sauce or hard to aquire technical knowledge.
Both of you are correct; The only thing the realtor is saying is that , unlike yourself, there are people who simply do not want to navigate those waters, even though they could find all the data themselves and do the work themselves, they would rather not fool with it. And fortunately for them, there are people out there who make a career out of doing things that others don’t want to do. There are plenty professions where this is so.( I’m an insurance agent). The realtor isn’t claiming to be a rocket scientist, but they are most likely an expert in the field of real estate and if they are good at their job, then there’s always going to be people who will use them. And as I said , the opposite is true also. Anyone that is willing to do the work themselves can easily do their homework and forego using a realtor.
This post was edited on 8/1/21 at 8:32 pm
Posted on 8/1/21 at 8:31 pm to dsides
quote:
In the same amount of time I’d have to fawk around with the buyer/seller, 3rd parties, etc, I can make more money with my core business.
Myself and the vast majority of Americans don’t make $20-30 grand for 20 hours of work, and I’m being generous about how much time the agent spent selling my last house.
Posted on 8/1/21 at 8:48 pm to EA6B
quote:
When I used a CPA they didn’t base their fee on a percentage of my income.
No but you pay on the complexity of your situation. You pay a CPA every year and only pay commission when you sell. The more you have the more you pay. The more the house, the more you pay.
I pay $2500 a year for a CPA so $25,000 every 10 years, so like selling a $400,000 house every 10 years.
Posted on 8/1/21 at 8:48 pm to flip82lsu
Like others said,it depends on the market.
A good one is still worth it and I never,ever want to do a FSBO again.
Never met so many weirdos,liars and no shows in my life.
Wasted a shite load of my time.
A good one is still worth it and I never,ever want to do a FSBO again.
Never met so many weirdos,liars and no shows in my life.
Wasted a shite load of my time.
Posted on 8/1/21 at 9:11 pm to RD Dawg
quote:
A good one is still worth it and I never,ever want to do a FSBO again.
Never met so many weirdos,liars and no shows in my life.
Wasted a shite load of my time.
You do realize you can just do open houses on the weekends and let people come see it then, right? That way you don’t have to worry about no shows. If you want to go fishing instead, just pay an attractive female a couple hundred to greet people and pass out information and cookies. Much better deal than paying a realtor $ 20,000 that can’t even put in close to that amount of time showing it every weekend.
Posted on 8/1/21 at 9:38 pm to SaintsTiger
quote:
You do realize you can just do open houses on the weekends and let people come see it then, right
Gee,I didn't think of that!
Do you really want me to tell you how many weekends I sat open houses? And how many times I stayed late because a person said they were "running late" quote:
Much better deal than paying a realtor $ 20,000 that can’t even put in close to that amount of time showing it every weekend
The house sat for over 4 months in the FSBO stage.I hired the right agent and the house was sold within 3 weeks at close to list price.
It was a 1,000% the right decision.
Posted on 8/1/21 at 9:43 pm to RD Dawg
quote:
I hired the right agent and the house was sold within 3 weeks at close to list price.
-6% have fun with that. That’s called a L in today’s market. You ate the L and loved it.
This post was edited on 8/1/21 at 9:44 pm
Posted on 8/1/21 at 9:48 pm to RD Dawg
quote:
house sat for over 4 months in the FSBO stage
in this market? lol embarrassing
Posted on 8/1/21 at 9:51 pm to RD Dawg
quote:
The house sat for over 4 months in the FSBO stage.I hired the right agent and the house was sold within 3 weeks at close to list price. It was a 1,000% the right decision.
In that case a $500 listing fee through one of the services to get listed on the MLS. Pay a reliable person a reasonable fee to handle the scheduling and show up for a handful of open houses.
If the assistant route doesn’t work out you can offer the buyer’s agents 2.5% or maybe 3 to bring you a buyer. You don’t have to go from doing everything yourself to paying 6%. There’s a middle ground.
Posted on 8/1/21 at 9:52 pm to FLOtiger
quote:
Guarantee a decent realtor will out negotiate you guys that think you know better than the person doing it every day.
High end negotiations here. We offer X price, we counter. We pay X if you do X.
God you agents are awful. 95% of your job is playing Uber and unlocking doors. Maybe taking some pictures.
How about creating more barriers to entry if you really want to raise your credibility for the industry.
I have not had good experiences with agents. I negotiate contracts for a living. I wasn’t letting some bozo with a 3 week certification course lead my offer in this market.
Posted on 8/1/21 at 9:56 pm to Levin13
quote:
Fun fact: there are more residential realtors than homes for sale in the US.
I was always curious about this. It just seems like there are a lot of real estate agents and they all seem to have that "im killing it" attitude, but in reality it doesn't seem realistic that all of them are as successful as they appear to be..
It almost seems like a MLM (im not saying it is, I am saying that there are those on the top and then everyone else gets in the game and unless they find a niche they will eventually fail).
Posted on 8/1/21 at 9:59 pm to flip82lsu
Look up real estate agent lobbying / political contributions...
Posted on 8/1/21 at 10:31 pm to SaintsTiger
quote:
the assistant route doesn’t work out you can offer the buyer’s agents 2.5% or maybe 3 to bring you a buyer. You don’t have to go from doing everything yourself to paying 6%. There’s a middle ground.
How bout you do you and let me take care of my real estate dealings?
This was somewhat of a remote location on a GA Power lake.Finding a "reliable person" a "reasonable fee" woulda been next to impossible.
This agent lived on the lake and had a buyer in mind almost immediately when she got the listing and closed the deal almost at full ask.Id hire her again under the same circumstances in a heartbeat.
Posted on 8/1/21 at 10:45 pm to RD Dawg
quote:
How bout you do you and let me take care of my real estate dealings?
You’re the one posting in a topic about your personal experience in a real estate thread, engaging in a back and forth, and claiming to be 1,000 percent correct. After all of that you tell me to mind my own business and drop these special circumstances in.
Congrats on your sale.
Posted on 8/1/21 at 11:13 pm to Jaspermac
quote:
When I used a CPA they didn’t base their fee on a percentage of my income. No but you pay on the complexity of your situation
My neighbor’ house is 30 feet away, and probably worth $200K more than mine, at 6% omission I don’t see $12k in added complexity. Actually their house should be easier to sell, it’s value puts it in the middle of the price range for the street.
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