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re: Why are real estate agents commission based?
Posted on 7/6/22 at 9:02 pm to tigersfan1989
Posted on 7/6/22 at 9:02 pm to tigersfan1989
Imo it is imperative to have an agent involved in the sale of something like a home. Good agents can be invaluable to the process.
There can be a lot of emotion involved in the transaction and an agent can really smooth things out to get a deal done that can otherwise get detailed by emotion.
Then consider the working parts to get to closing. Inspections, negotiating the work to be done, appraisals, closing documents, and other items that come up in the course of the process. Agents take care of things that people generally don’t know how to do.
I would not recommend someone try to sell or buy without the help of an agent.
There can be a lot of emotion involved in the transaction and an agent can really smooth things out to get a deal done that can otherwise get detailed by emotion.
Then consider the working parts to get to closing. Inspections, negotiating the work to be done, appraisals, closing documents, and other items that come up in the course of the process. Agents take care of things that people generally don’t know how to do.
I would not recommend someone try to sell or buy without the help of an agent.
5
Posted on 7/6/22 at 9:06 pm to tigersfan1989
Sooner or later real estate agents and car dealerships will go the way of the horse and buggy. They are antiquated systems that are going to be phased out as technology improves and the younger consumers demand it. A computer can sell a house just fine in 2022. Car Mfgs are slowly finding their way around the direct selling.
Posted on 7/6/22 at 9:09 pm to jcaz
quote:
undefined Sooner or later real estate agents and car dealerships will go the way of the horse and buggy. They are antiquated systems that are going to be phased out as technology improves and the younger consumers demand it. A computer can sell a house just fine in 2022. Car Mfgs are slowly finding their way around the direct selling.
True for car dealers but but for real estate agents. In most cases we don’t have a choice in car buying- we have to go through a dealer.
With real estate, sellers have a choice to use or not use and overwhelmingly they choose to use an agent. It’s been that way for a very long time too.
No one has a gun to the head. If you want to sell without an agent, go right ahead.
This post was edited on 7/6/22 at 9:10 pm
Posted on 7/6/22 at 9:17 pm to SlidellCajun
quote:
SlidellCajun
Found the real estate agent in the thread
Posted on 7/6/22 at 9:20 pm to SlidellCajun
quote:
Imo it is imperative to have an agent involved in the sale of something like a home. Good agents can be invaluable to the process. There can be a lot of emotion involved in the transaction and an agent can really smooth things out to get a deal done that can otherwise get detailed by emotion. Then consider the working parts to get to closing. Inspections, negotiating the work to be done, appraisals, closing documents, and other items that come up in the course of the process. Agents take care of things that people generally don’t know how to do. I would not recommend someone try to sell or buy without the help of an agent
This looks like it was written by a realtor.
Posted on 7/6/22 at 9:23 pm to Dizz
quote:
I totally understand having an agent to sell your house. Who wants to deal with showings
If you have ever sold a home, you know that your listing agent doesn’t deal with showings, you do. They use a centralized scheduling service that calls the seller to see if a time works, and then the buyers agent takes them and accesses the house via lockbox. To save 3% buyers fees, most sellers would be happy to be there or pay someone hourly rates to do this.
Someone needs to start a low cost showing service, if they haven’t already, that takes the buyers into the homes after the automated system confirms with the seller that the house will be vacant and available. Buyers can then negotiate with sellers directly or the scheduling service offers that as an add on.
Posted on 7/6/22 at 9:24 pm to tigersfan1989
Just like how we are supposed to tip on a whole meal, water is free and wine costs money. Same effort but one you need to tip on.
Posted on 7/6/22 at 9:24 pm to SlidellCajun
Yea let’s trust the history and mass com majors to read these contracts
Agents are worthless
Agents are worthless
Posted on 7/6/22 at 9:27 pm to jcaz
quote:
undefined
quote:
A computer can sell a house just fine in 2022.
Computers can handle complex legal matters should they arise? Never knew….
Posted on 7/6/22 at 9:30 pm to tigersfan1989
quote:
Is it more work to sell higher priced homes compared to lower priced homes
I’d take 25 300k homes over one 7.5M home every single time.
This post was edited on 7/6/22 at 9:32 pm
Posted on 7/6/22 at 9:30 pm to The Third Leg
quote:
Someone needs to start a low cost showing service, if they haven’t already, that takes the buyers into the homes after the automated system confirms with the seller that the house will be vacant and available. Buyers can then negotiate with sellers directly or the scheduling service offers that as an add on.
I bet that really sounded sharp in your head…….
I’d love to take a look at some of these “easy” transactions yall keep bragging on, I’m sure you left more money on the table than you saved.
This post was edited on 7/6/22 at 9:32 pm
Posted on 7/6/22 at 9:33 pm to TJG210
There is nothing a realtor can do that is worth $30k in a week
Posted on 7/6/22 at 9:37 pm to djangochained
quote:
undefined Yea let’s trust the history and mass com majors to read these contracts
You’ve evidently never worked with a good agent.
Good agents will make you money
Posted on 7/6/22 at 9:42 pm to tigersfan1989
quote:
Why are real estate agents commission based?
Think of them as an attorney that only knows shite about selling houses. They cost way less than a law firm would to buy a home and the service is essentially the same.
Now. That's not saying they're not a cartel, or it's not all a big stupid scam, but that's probably the best way to think of it.
A very narrow legal agent.
Posted on 7/6/22 at 9:42 pm to 3D
quote:
There is nothing a realtor can do that is worth $30k in a week
Unless you’re in a stupid hot market, a million dollar listing will take more than a weeks worth of work. Most of the clients I have that think they know everything, don’t know shite, and would either get themselves into legal trouble or cost themselves thousands had they done it by themselves. Maybe everyone chirping here is the exception to the rule though.
Also if you’re a buyer in a hot market, good luck getting you offer noticed with 14/20 competitors on your own.
This post was edited on 7/6/22 at 9:43 pm
Posted on 7/6/22 at 9:43 pm to SlidellCajun
I truly can’t understand why anyone would ever pay an agent 3%. There are several brokerages out there that offer full service realtors for either 1% to list or a flat transaction fee. Don’t ever let a realtor convince you that they’re somehow magically going to bring you such amazing service that it’s worth 6% of your home. If they were charging 4% total would they not bring the same amazing service?
Posted on 7/6/22 at 9:49 pm to TitleistProV1X
quote:
There are several brokerages out there that offer full service realtors for either 1% to list or a flat transaction fee.
You get what you pay for……I’ve had clients buy from the 1% folks and more times than not when it comes time to negotiate I walk away thinking, no way in hell would I have let my client accept that. The flat fee stuff is nice too if you want to pay to just list it and then you can negotiate against a professional.
Posted on 7/6/22 at 9:50 pm to TJG210
I sold one place in my life, it was a previously distressed property that I had renovated. The idiot realtor wanted to list it for 10% less than I demanded, which was higher than comps, but with a ton of custom stuff. I had to threaten to take it elsewhere to get him to do it. It sold in 48 hours for 5% above list. This was in 2015.
When I bought that same place in 2012, same idiot tried talking me out of a low ball offer and offering list. Seller countered my low ball at a price that was closer to my offer than his asking price, and I got most of the rest after inspection.
I used a different moron to acquire a house in 2014. I offered list and then when it didn’t appraise, I countered asking for a 6% reduction, which he opposed saying he didn’t want to piss off the sellers, who had a foot out the door. He tried driving me to his shady lender buddy. I demanded the counter at appraisal and it was taken.
As for the shopping, they always just set up a MLS search that emailed me listings daily and I had seen most of them online before I got them.
In this most recent Runup, any idiot could have sold a decent house without a realtor and created a bidding war.
When I bought that same place in 2012, same idiot tried talking me out of a low ball offer and offering list. Seller countered my low ball at a price that was closer to my offer than his asking price, and I got most of the rest after inspection.
I used a different moron to acquire a house in 2014. I offered list and then when it didn’t appraise, I countered asking for a 6% reduction, which he opposed saying he didn’t want to piss off the sellers, who had a foot out the door. He tried driving me to his shady lender buddy. I demanded the counter at appraisal and it was taken.
As for the shopping, they always just set up a MLS search that emailed me listings daily and I had seen most of them online before I got them.
In this most recent Runup, any idiot could have sold a decent house without a realtor and created a bidding war.
This post was edited on 7/7/22 at 8:46 am
Posted on 7/6/22 at 9:51 pm to tigersfan1989
Posted on 7/6/22 at 9:54 pm to BabyTac
quote:
title companies take on a simple home sale.
Hey retard. Title/Closing companies get the smallest cut and absorb the most liability in every transaction.
Real Estate Agents are absolutely useless. Everyone agrees on that. They make closings a pain in the arse more often than any other party.
This post was edited on 7/6/22 at 9:56 pm
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