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re: Realtor Payment -- Why is it a percentage of the home?
Posted on 6/28/17 at 11:16 am to rocket31
Posted on 6/28/17 at 11:16 am to rocket31
My issue is that in order to get anyone witha certain level of intelligence and experience they generally need to make a certain level of money.
If I'm selling a $500k house, you want someone with a certain level of competence. If you cut their pay aggressively, now you're going to have any and all competent realtors seeking a new profession and you have some shitehead marketing and selling your home.
If I'm selling a $500k house, you want someone with a certain level of competence. If you cut their pay aggressively, now you're going to have any and all competent realtors seeking a new profession and you have some shitehead marketing and selling your home.
1
Posted on 6/28/17 at 11:18 am to ThePoo
The good agents should be beating down the door of their association or licensing boards to weed out the bad realtors. There are too many and too many bad ones.
Posted on 6/28/17 at 11:18 am to rocket31
Posted on 6/28/17 at 11:21 am to lsu13lsu
quote:A bad agent makes life hell on a good agent during the transaction process
he good agents should be beating down the door of their association or licensing boards to weed out the bad realtors. There are too many and too many bad ones.
the disparity in work between the 2 agents during the same transaction is often very stark. Yet they often walk away with the same size check
Posted on 6/28/17 at 11:24 am to BabyCakes
Not worth it? Clearly you have never heard of Darren James. Get this, the man will you give his actual cellphone number. I shite you not, its true.
Posted on 6/28/17 at 11:24 am to BabyCakes
This is a soapbox issue of mine. I am on your side.
Posted on 6/28/17 at 11:25 am to BabyCakes
What I wanna know is why the same logic doesn't apply to waiters. The level of service doesn't change much between a $15 meal and a $30 meal. Why should the tip be doubled???
Posted on 6/28/17 at 11:28 am to BabyCakes
Any sort of sales job gives the salesman a percentage of the sale. With the OP's logic someone that sells a $100,000 piece of medical equipment should make the same from that sale as someone that sells a $20,000 piece.
Also, it's not like there's a law saying that you must use a real estate agent to sell your house. If you can do it better yourself, then go ahead.
Also, it's not like there's a law saying that you must use a real estate agent to sell your house. If you can do it better yourself, then go ahead.
Posted on 6/28/17 at 11:28 am to PrivatePublic
quote:
What I wanna know is why the same logic doesn't apply to waiters. The level of service doesn't change much between a $15 meal and a $30 meal. Why should the tip be doubled???
Lol. Almost every business model is percentage based. So much ignorance in this thread. Should a $200k car have the same profit number as a 20k car?
Posted on 6/28/17 at 11:39 am to baldona
Exactly, this is how capitalism works.
Posted on 6/28/17 at 11:42 am to CrazyCow202
quote:
Exactly, this is how capitalism works.
Wrong. Capitalism does not involve price fixing or organized group boycotts between competitors. In capitalism, a free market dictates the price. If this was a free market, 95% of sales would not have the same realtor percentage. Competitors try to lower prices to undercut their competition.
Posted on 6/28/17 at 11:48 am to Hammond Tiger Fan
My neighbor across the street did by owner. Just put it on MLS and maybe realtor.com. With Zillow you really don't need realtor.com any more.
Got asking price pretty quickly.
Location cubed.
Got asking price pretty quickly.
Location cubed.
Posted on 6/28/17 at 11:51 am to Hammond Tiger Fan
quote:
Whenever I sell my house, I may opt for the FSBO route b/c realtor fees will likely be over $25,000 if I go the conventional route. I'm in a desirable neighborhood with good schools and very low crime here in Mandeville. The house will pretty much sell itself whenever I decide to place it on the market. There's no need for me to fork over $25k to a realtor for them to push around some paperwork that I am fully capable of doing myself.
Just be ready to be low balled. If I offer on a FSBO house it's gonna be 5% less than a listed one
Posted on 6/28/17 at 11:52 am to baldona
quote:
I have a hard time believing someone else will being a model here before a domestic company could figure it out.
Michael and Kenny Bruce recently raised over $56 million dollars in less than 24 hrs to finish up their purported $300 million dollar capital call dedicated to their expansion plans for the United States. $300 million in spending money is a lot of cash to throw around to build up your branding online very quickly just in the United States.
The company won the prestigious Startups award for the Technology Business of the Year and also won the Most Innovative Business of the Year in 2015 which is how I found out about them and invested in them.
Posted on 6/28/17 at 11:54 am to BabyCakes
quote:
Wrong. Capitalism does not involve price fixing or organized group boycotts between competitors. In capitalism, a free market dictates the price. If this was a free market, 95% of sales would not have the same realtor percentage. Competitors try to lower prices to undercut their competition.
When I bought my first home, I had an awesome realtor who took me all over Atlanta many many days. Bargained for me with some dickhead estate executors and heirs, and later sold half the lot for me on terrific terms. He worked very hard and earned his commission, but he gave me 1.5% cash back out of his commission. I had several people ask me if that was "legal." I said shite if I know and if it isn't then frick all.
Posted on 6/28/17 at 11:56 am to BabyCakes
quote:
Wrong. Capitalism does not involve price fixing or organized group boycotts between competitors. In capitalism, a free market dictates the price. If this was a free market, 95% of sales would not have the same realtor percentage. Competitors try to lower prices to undercut their competition.
Why are you so upset about this? Show me your proof to back this up? No one is forcing you to sell for 6%. Do FSBO for 0%, talk to a realtor about doing 2.5% to sell for 5.5% or 5%. Do FSBO for 2.5% to sellers agent. As said, many realtors do 3% on purchase and 1% to resale.
I don't have a clue why you are complaining, there are tons of options out there. There is no racket, it's what the market has chosen.
Posted on 6/28/17 at 11:56 am to ihometiger
quote:
Most Innovative Business of the Year in 2015 which is how I found out about them and invested in them.
thanks for letting the board know
Posted on 6/28/17 at 11:57 am to BabyCakes
I think what needs to be done is,
have a flat fee set at something standard like $5k for homes under $200k and then add $1k more for every $100k over that up to say $500k homes. anything over $500k is special and let them go with a flat 5% or something.
there is no way in hell to say that's not still making damn good money even after advertising, staging a home with furniture, and whatever else they do to sell it so, in some cases, they do actually spend some decent money trying to sell it.
plus add on top of that, a bonus of another 2% of the homes selling value so there is still "some" incentive to get the highest price, but its also not taking huge commissions in the scope of near stealing your money the way it is set up now.
oh, and in all but rare cases, the broker fees are always paid by the sellers.
have a flat fee set at something standard like $5k for homes under $200k and then add $1k more for every $100k over that up to say $500k homes. anything over $500k is special and let them go with a flat 5% or something.
there is no way in hell to say that's not still making damn good money even after advertising, staging a home with furniture, and whatever else they do to sell it so, in some cases, they do actually spend some decent money trying to sell it.
plus add on top of that, a bonus of another 2% of the homes selling value so there is still "some" incentive to get the highest price, but its also not taking huge commissions in the scope of near stealing your money the way it is set up now.
oh, and in all but rare cases, the broker fees are always paid by the sellers.
Posted on 6/28/17 at 11:59 am to yellowfin
quote:
Just be ready to be low balled. If I offer on a FSBO house it's gonna be 5% less than a listed one
Woah woah woah, is that capitalism you are talking about? That doesn't make sense, you should be forced to offer the same amount if there is a realtor involved or not. Life's just never fair.
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