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re: Ways to skirt a realator when buying?

Posted on 8/3/18 at 7:42 am to
Posted by Giantkiller
the internet.
Member since Sep 2007
24454 posts
Posted on 8/3/18 at 7:42 am to
Just for the record, 6% is almost unheard of these days. At least in BR. There's a lot of agents who will go down to 3 - 3.5% when listing. They'll put in the MLS comments that buying agents receive 2 - 2.5%.

My wife (no pics) and I work in real estate and the first thing I always suggest to clients who are selling is to try FSBO first. If it doesn't work, and it usually doesn't, then go with a realtor.

If you're buying, you don't pay the commission... The seller does.

Also I always recommend interviewing agents if you're selling. Find out what they intend to do for you. There's way too many people out there who don't do anything for their clients who give hard working agents a bad name.
Posted by GetmorewithLes
UK Basketball Fan
Member since Jan 2011
22144 posts
Posted on 8/3/18 at 7:47 am to
quote:

What do they do?


Keeps sellers from having to deal with buyers.
Puts ads in right places to attract buyers.
Knows how to make legal deal.
Posted by TeddyPadillac
Member since Dec 2010
29707 posts
Posted on 8/3/18 at 7:49 am to
You will never convince me that $18K in value was provided by a realtor to sell a $300k house.

and if you think you're not paying for it simply b/c you're buying, then you're a naïve idiot.

If i'm selling my $300k house that I have $100k in equity in, and I want to walk away with $90k to use as a down payment on another house instead of $82k, then I could go the route of FSBO, and sell the house for $295k instead of $300k and I walk away with $95k, and the buyer buys a house for $5K less. But if we have to use a realtor, then I have to sell my house for $310K just to get my $90k.
Posted by jbgleason
Bailed out of BTR to God's Country
Member since Mar 2012
19802 posts
Posted on 8/3/18 at 7:49 am to
quote:

Also I always recommend interviewing agents if you're selling. Find out what they intend to do for you. There's way too many people out there who don't do anything for their clients who give hard working agents a bad name.


This is some legit great advice right here. Two houses ago I made the mistake of listing with the same realtor that I purchased the home from a short time earlier. This lazy bitch didn’t do a damn thing until I threatened to break our listing contract.

Our conversation.

“We have t had a showing in two weeks. Why don’t you hold an open house or something?”

“Open houses don’t actually sell houses.”

“Really?!? Because I bought this house FROM YOU 18 months ago DURING AN OPEN HOUSE.”

“Oh. Well that’s a good point.”
Posted by Restomod
Member since Mar 2012
13493 posts
Posted on 8/3/18 at 7:52 am to
Why do you care, it's not coming out of your pocket?
Posted by Jake88
Member since Apr 2005
77882 posts
Posted on 8/3/18 at 7:53 am to
On a $400,000 house that's $12,000 each or $24,000 if only one is involved. They don't do nearly enough to earn that. I sold my last house on my own and it was simple. I bought my current house on my own and that was simple too. In many situations they are unnecessary.
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/3/18 at 7:53 am to
quote:

realator


Don't settle for sham ators. Demand real ators!
This post was edited on 8/3/18 at 7:54 am
Posted by Y.A. Tittle
Member since Sep 2003
109519 posts
Posted on 8/3/18 at 7:54 am to
quote:

If you're buying, you don't pay the commission ...The seller does.


Well that's just silly.

I'm not hating on realtors, but when they try to spin nonsense like this, it makes it hard.
Posted by Sao
East Texas Piney Woods
Member since Jun 2009
68469 posts
Posted on 8/3/18 at 7:56 am to
quote:

Just for the record, 6% is almost unheard of these days. At least in BR. There's a lot of agents who will go down to 3 - 3.5% when listing. They'll put in the MLS comments that buying agents receive 2 - 2.5%.


Wait, come again. You're trying to imply the listing agent and the broker are satisfied with splitting 1% while giving the buyer agent 2-2.5%?

Sure about your math?

Posted by JDogg33
Member since Oct 2017
405 posts
Posted on 8/3/18 at 7:58 am to
Realtors and insurance sales are 2 professions Ill be glad to see eliminated.
The world will be a better place.
Posted by Ba Ba Boooey
Northshore
Member since May 2010
4729 posts
Posted on 8/3/18 at 7:59 am to
If you’re buying, it would be absolutely stupid not to have a realtor. You aren’t paying them, the seller is. They’re realtor and your realtor would split that commission. I didn’t have time away from work to know all the shite my realtor caught and it made my life and the transaction much easier.
Posted by OceanMan
Member since Mar 2010
22639 posts
Posted on 8/3/18 at 7:59 am to
I’m sure someone has said this already, but the buying side has already been negotiated by the seller, in other words the seller has already agreed to pay for a buying agent. You might as well use one to deal with the paperwork or else the selling agent will get the full commission.

Is the total service worth 6% of He homes price? Maybe, maybe not. Remember part of this is going to the broker who is responsible for everyone getting paid timely.

If you ask me It’s a dumb system that could use refinement but it is the system in place.
Posted by Jp1LSU
Fiji
Member since Oct 2005
2542 posts
Posted on 8/3/18 at 8:07 am to
quote:

You’re buying, you don’t pay the realtor



This. Whether you (buyer) has a realtor or not the commission gets paid.
Posted by yellowfin
Coastal Bar
Member since May 2006
98736 posts
Posted on 8/3/18 at 8:10 am to
The only way would be to find a house you like that’s for sale by owner
Posted by Tchefuncte Tiger
Bat'n Rudge
Member since Oct 2004
62535 posts
Posted on 8/3/18 at 8:12 am to
Do you mean "realtor?"
Posted by LNCHBOX
70448
Member since Jun 2009
88603 posts
Posted on 8/3/18 at 8:16 am to
quote:

And the buyer isn’t the one paying them.


Can this stupid line go away? They buyer is absolutely paying for it (at least some of it anyway). I've never seen a seller not factor realtor fees into their price.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 8/3/18 at 8:20 am to
quote:

You will never convince me that $18K in value was provided by a realtor to sell a $300k house.


Noted. But the seller who agrees to those terms with a real estate agent does see that value. People tend to view the world of real estate based on their local market and their personal case by case transactions. Its a big world out there full of moving parts. In many cases those moving parts make 6% a steal for someones situation.

quote:

if you think you're not paying for it simply b/c you're buying, then you're a naïve idiot. If i'm selling my $300k house that I have $100k in equity in, and I want to walk away with $90k to use as a down payment on another house instead of $82k, then I could go the route of FSBO, and sell the house for $295k instead of $300k and I walk away with $95k, and the buyer buys a house for $5K less. But if we have to use a realtor, then I have to sell my house for $310K just to get my $90k.


If my aunt had balls she'd be my uncle. Anyone can create a circumstance on paper where they can potentially have a scenario that works out in their favor by eliminating pieces from the puzzle. Holy hypothetical Batman applies.

In the real world, the one using historical data vs. hyperbole, houses listed by real agents sell faster for more money than FSBO in every major market in the United States, and sellers walk away from the transaction with more money than they would listing FSBO.






Posted by LSUDAN1
Member since Oct 2010
10870 posts
Posted on 8/3/18 at 8:20 am to
Realtors are worse than lawyers now.
Posted by Simplemaaan
Member since Sep 2007
4063 posts
Posted on 8/3/18 at 8:20 am to
If you buy a listed home, use the realtor who has it listed. They will have to sign into dual agency. Offer what ur willing to pay and tell them to work out the commission. You may be surprised.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 8/3/18 at 8:22 am to
quote:

realator


Sorry but this just bugs me. It's spelled (and pronounced) "realtor". There is no sound between the l and the t because there is no letter there. As in "REEL-tor".

Yes, I'm a nazi.
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