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Message
re: Realtor Payment -- Why is it a percentage of the home?
Posted on 6/28/17 at 10:36 am to SlowFlowPro
Posted on 6/28/17 at 10:36 am to SlowFlowPro
quote:
and that's why i want to create something that breaks their back
Let me know if you need some help. I've thought of this often myself.
0
Posted on 6/28/17 at 10:36 am to baldona
quote:
Let's take a $1 mil home with realtor fees of $60,000. It's really not that hard for a really good realtor to get you $20k more on that same house. Maybe even $50k more. So it's really not that hard for a really good realtor to make up the cost of a large portion of their income.
then lets use JT's system where the realtor only earns if they can actually get more, and they get a larger % of that excess
Posted on 6/28/17 at 10:37 am to SlowFlowPro
quote:
you can't even become a broker until you wait a few years.
Used to be 2. IIRC they (the state realtor board made up of brokers) voted to raise it to 5 a while back.
Posted on 6/28/17 at 10:37 am to stout
quote:
IIRC they (the state realtor board made up of brokers) voted to raise it to 5 a while back.
a bunch of frickers
Posted on 6/28/17 at 10:38 am to baldona
quote:
I hate it too, butcome up with a better rate of pay? The issue is that you have no idea as a realtor how long a sale will take. I call BS on anyone that says 'my house will sell itself', for everyone that says that there are probably 3 that don't.
Flat fee with an incentive bonus structure. Or a flat fee that takes into account the amount of time to sell, amount of showings, etc.
Posted on 6/28/17 at 10:38 am to SlowFlowPro
quote:
i now have a lot of free time again and i'm focusing on thinking of ways to attack state-backed industries with efficiencies
You have that info I sent you. It would be a good start.
Posted on 6/28/17 at 10:39 am to SlowFlowPro
quote:
a bunch of frickers
It's 4 but they did raise it
quote:
To become a licensed real estate broker you must have held an active salesperson's license for at least 4 years, if licensed after 2008, or 2 years if licensed before 2008. You must complete 150 hours of training, which includes Real Estate 201, 202, 203, and you must pass the State Exam.
Posted on 6/28/17 at 10:39 am to BabyCakes
Then negotiate a lower rate. If you drop to 4% on 415k house thats 9k saved.
Posted on 6/28/17 at 10:40 am to BabyCakes
quote:
It is when you consider the amount of work they do to get it. If his home is priced properly in a desirable area, then they realtor may do less than 25 hours of work to sell the home. That's $1,000 an hour or more.
You are clearly an hourly or salary employee with no idea how a business works. It don't freaking matter how much 'work' someone does.
If someone makes you more money in 1 hour of work then someone else in 100, they are still well worth it. That's called business.
Posted on 6/28/17 at 10:40 am to stout
i have a non profit idea that i'm going to sell to some local businessmen. i may email you to see if you want to participate
i'm about to try and organize my life. like split my time between lawyering, being creative, working out, poker, and other ventures
i need to get my shite together
i'm about to try and organize my life. like split my time between lawyering, being creative, working out, poker, and other ventures
i need to get my shite together
Posted on 6/28/17 at 10:40 am to rattlebucket
True, but why make it a percent? And why is it set up front? Why not base it on the amount of work actually performed?
Posted on 6/28/17 at 10:41 am to baldona
quote:
If someone makes you more money in 1 hour of work then someone else in 100, they are still well worth it. That's called business.
i don't disagree
but why not put your money where your mouth is?
Posted on 6/28/17 at 10:43 am to SlowFlowPro
quote:
then lets use JT's system where the realtor only earns if they can actually get more, and they get a larger % of that excess
That will never work. How many homes are 'reduced' because the owner thinks it is worth more than it is. Let's say a realtor recommends the home list at $550k because comps are $540k, but the owner thinks the market is going up so wants to list at $600k. The home sells for $550k 150 days later. This happens all the time, what's the realtors fee then?
Posted on 6/28/17 at 10:43 am to SlowFlowPro
Yea shoot me an email anytime
Yea I would like to do this but I have been busy. Have to move to Cali for 2 or 3 months starting in August to take care of some business I have out there. Hard to stay organized living in an AirBNB place in a different city.
quote:
i'm about to try and organize my life. like split my time between lawyering, being creative, working out, poker, and other ventures
Yea I would like to do this but I have been busy. Have to move to Cali for 2 or 3 months starting in August to take care of some business I have out there. Hard to stay organized living in an AirBNB place in a different city.
Posted on 6/28/17 at 10:45 am to stout
yeah i had a really packed mid-April to mid-May (including a jury trial) and have been coasting since. gf is taking up a lot of time (not complaining)
Posted on 6/28/17 at 10:45 am to baldona
quote:
You are clearly an hourly or salary employee with no idea how a business works. It don't freaking matter how much 'work' someone does.
If someone makes you more money in 1 hour of work then someone else in 100, they are still well worth it. That's called business.
I'm not sure why my background matters. If it was a true business, then competitors would not have the exact same price regardless of market conditions. It is a service industry, and the price should be based on the quality of the service, not on an artificial price set collectively by an industry.
Posted on 6/28/17 at 10:45 am to baldona
quote:
That will never work. How many homes are 'reduced' because the owner thinks it is worth more than it is. Let's say a realtor recommends the home list at $550k because comps are $540k, but the owner thinks the market is going up so wants to list at $600k. The home sells for $550k 150 days later. This happens all the time, what's the realtors fee then?
$0
sounds like a client you wouldn't want to take
Posted on 6/28/17 at 10:45 am to BabyCakes
quote:
True, but why make it a percent? And why is it set up front? Why not base it on the amount of work actually performed?
If you have the choice between a pro bono first year lawyer or a $1000 an hour lawyer with 30 years experience on a possible 10 year jail charge, who do you go with? Money is not a question?
Posted on 6/28/17 at 10:45 am to BabyCakes
quote:
True, but why make it a percent? And why is it set up front? Why not base it on the amount of work actually performed?
Because people like Baldona think they deserve more money than they worked for because "that's how it works"
Posted on 6/28/17 at 10:47 am to baldona
quote:
I call BS on anyone that says 'my house will sell itself', for everyone that says that there are probably 3 that don't.
It depends on the market you live in. Here in Mandeville, nice homes in desirable neighborhoods move very quickly. It was the same way when I moved to the area over 4 years ago and it's still the same way now. So, yes basically "my house will sell itself" if the variables remain constant whenever I decide to sell.
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