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re: Why are real estate agents commission based?
Posted on 7/7/22 at 12:36 pm to tigersfan1989
Posted on 7/7/22 at 12:36 pm to tigersfan1989
quote:
Is it more work to sell higher priced homes compared to lower priced homes? Is it worth it to pay a real estate agent to sell your house?
If brazzers has taught us anything, most of them will gladly accept "other forms" of payment.
This post was edited on 7/7/22 at 12:37 pm
0
Posted on 7/7/22 at 12:40 pm to keakar
quote:
they do their jobs...by using title search companies and other services.
Exactly, they do their jobs by getting other people to do their jobs for them.
And you know what? You get to pay the title company fees on top of the realtor's fees.
Posted on 7/7/22 at 12:54 pm to llfshoals
quote:
I am sure that lawyer charges the same price to write 4 contracts, because you didn’t win any of the first 3, writes up addendums for those pesky issues that tend to crop up, etc etc etc
So the answer is to pay real estate agent fees on top?
Posted on 7/7/22 at 12:56 pm to llfshoals
quote:
absolutely despise dual agency. It is a clear conflict of interest, and every listing I do I tell my sellers I will not be bringing a buyer for sale. If I have a client who wants the house as a buyer, I turn it over to another agent for them to represent.
Dual agency is actually illegal in many states. It is legal in Louisiana but the client must sign a disclosure authorizing the dual agency.
It’s not worth the headache to walk that thin line.
Posted on 7/7/22 at 1:34 pm to llfshoals
quote:
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quote:
I am sure that lawyer charges the same price to write 4 contracts, because you didn’t win any of the first 3, writes up addendums for those pesky issues that tend to crop up, etc etc etc People think it’s easy, sometimes it is most of the time it isn’t
Every real estate agent I used that “wrote” a contract did nothing but fill in names and addresses on a typical “boiler plate” contract form.
Posted on 7/7/22 at 1:42 pm to Tigers4Lyfe
Like any other profession where half of it consists of talentless middle aged women trying to find something to do (interior designers, family photographers, etc.), the results vary widely.
A great agent will genuinely help you get more money and sleep better at night. Ours used in multiple transactions helps stage, brings us contractors ahead of prepping a house to sell, gets contractors out (without us being there) on prospective properties to get preliminary estimates on upgrades, knows lenders and specific loan officers who can shepherd you through a complex deal, etc. A useless one will handhold you, sloppily, through a preordained process and get paid for doing next to nothing.
A great agent will genuinely help you get more money and sleep better at night. Ours used in multiple transactions helps stage, brings us contractors ahead of prepping a house to sell, gets contractors out (without us being there) on prospective properties to get preliminary estimates on upgrades, knows lenders and specific loan officers who can shepherd you through a complex deal, etc. A useless one will handhold you, sloppily, through a preordained process and get paid for doing next to nothing.
Posted on 7/7/22 at 2:04 pm to tigersfan1989
They’re worth it.
This post was edited on 7/8/22 at 10:05 am
Posted on 7/7/22 at 2:15 pm to keakar
quote:
title searches, inspections, and real estate lawyers, are all hired by them
Aside from setting up inspections, your lender handles all of this.
Posted on 7/7/22 at 2:24 pm to Btrtigerfan
quote:
What if Popeye's was commission based?
The service would either be great or they would be closed.
Posted on 7/7/22 at 2:43 pm to Mo Jeaux
quote:That isn't free.
I just hire my own lawyer
Posted on 7/7/22 at 2:58 pm to DieselTiger1
quote:
title searches, inspections, and real estate lawyers, are all hired by them
quote:I have bought and sold multiple properties. No realtor EVER picked my attorney. As a buyer, I always picked the attorney. What fool would blindly let a realtor pick the attorney that was being paid for, by the buyer/seller?
Aside from setting up inspections, your lender handles all of this.
Posted on 7/7/22 at 3:58 pm to greygoose
quote:If you know a good title attorney that’s fine. I recommend title companies, one in particular I close about 80% of my sales with. I like them most because they do a great job of explaining What people are signing. Plus they probably close three hundred deals a month so think they have a pretty good idea they know what they’re doing
I have bought and sold multiple properties. No realtor EVER picked my attorney. As a buyer, I always picked the attorney.
There are some I really hate using, with them it’s pretty much sign here sign here sign here sign here see ya have a nice day.
This post was edited on 7/7/22 at 4:00 pm
Posted on 7/8/22 at 8:26 am to tigersfan1989
My brother is going through an interesting situation relative to realtors.
He signed a buyer agreement with the realtor, yet the realtor didn't do squat. Didn't have any suitable homes, was always late returning phone calls etc.
So him and his wife found a cool home which was for sale by owner so they cut a deal. Well, the lender is the realtors sister and she said "I don't GAF, he should've done his job"
Yesterday my brother gets a semi threatening text yadda yadda so we'll see what develops.
He signed a buyer agreement with the realtor, yet the realtor didn't do squat. Didn't have any suitable homes, was always late returning phone calls etc.
So him and his wife found a cool home which was for sale by owner so they cut a deal. Well, the lender is the realtors sister and she said "I don't GAF, he should've done his job"
Yesterday my brother gets a semi threatening text yadda yadda so we'll see what develops.
Posted on 7/8/22 at 8:29 am to Tigers4Lyfe
quote:
That isn't free.
You don't say.
Posted on 7/8/22 at 9:32 am to idlewatcher
quote:
He signed a buyer agreement with the realtor, yet the realtor didn't do squat. Didn't have any suitable homes, was always late returning phone calls etc.
First realtor we had in our process was similar to this. We were pre-approved for far more than we wanted to spend, but we made it clear what our limit was. She didn't care and kept wanting to show us homes at what we were pre-approved for. After a couple of weeks we let her know that we would stop looking since I was considering a move to Oxford, MS(I did have a tempting offer, but I didn't want to move to Oxford). A week later we contacted another realtor and the guy was the exact opposite of the previous. The house we are in the process of buying came in below what we wanted to spend.
Posted on 7/8/22 at 10:04 am to Shoalwater Cat
quote:
How do you know if you didn't leave money on the table.
You can pay for an appraisal before listing, and/or do a comparison of similar houses in the area that have sold or are for sale. With all the internet sites like zillow that show what houses sold for and when they were sold, its pretty easy. You can even have your house listed on the MLS without a realtor by going to a flat fee real estate site. That way youre not limited to just the fsbo sites. If I remember correctly, its like $350 to do that.
Posted on 7/8/22 at 12:08 pm to WildTchoupitoulas
quote:
And you know what? You get to pay the title company fees on top of the realtor's fees.
And it's WAY less than the realtor's commission, and not commission-based at all. Most of what you're paying to a title company is for title insurance for you and your lender, assuming you're not paying cash.
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