re: Will technology replace the real estate agent?

Nope...travel agents would be a whole lot easier to replace and their profession is going ok. Fact is, people like to be catered to and as long as someone will offer it, they will pay for it.

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Technology cannot blow you to help close the deal like an agent can.

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Actually, it’s the closing attorney that do most of the work at closing.

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We have a vastly different definition of free, the buyer is the one paying both sides.

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I disagree. In my opinion market price is mutually exclusive of the realtors commission.

When the buyer makes an offer on the house they offer the price they are willing to pay for the house regardless of who’s involved. They don’t mentally add 6% to what they believe is a fair price to cover the cost of their outstanding realtor.

On the otherhand, the seller will almost always subtract 6% from the offer to see what their take home is before accepting the offer.

When you go to closing the realtor’s commission is deducted from the sellers distribution not added to the sell price. If the buyer was paying for the realtors they would have to bring a check to closing for the realtors just like they do for other prepaid items such as insurance, taxes, and other closing fees.

In my opinion the current model for paying realtors is a complete rip off. They should work on an agreed up lump sum fee or on a time and materials basis. Getting paid 10 times more for selling a $1,000,000 house as you do for a $100,000 house is a joke especially since the buying process and time involved is essentially the same.

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Only until you sell your house for $15 -$20k less then you could have.

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You can make argument the other way where the FSBO sold the house for more. Then it’s double bonus for the seller.

Now, if you sold a house for 250k with 6% commission, you stuck 15k in commission. So if you sold the house 15k less by yourself, the net amount would be the same.

But if the house is 400k and you sell it 20k less than what it’s suppose to, you’d still be ahead because the commission would be around 24k.

What do you mean the hidden mortgage fees of 4 to 6 points? What’s this about?

When I bought my last house, I did all the work in regards to finding it and several others we were considering well before my agent would email me a daily list. While our agents were super nice people and seemed to care about our needs, in the end I questioned the way the system is set up...6% of a sale on a 400k house is really outdated in today's world. You're basically paying agents, combined on both sides, 24k for maybe 3 days of work when you really sit down and add the hours up.

I completely agree on the appraisal aspect. You can get the professional unbiased opinion and sell your home knowing you got as close to top dollar as possible. Trick is finding the most knowledgeable appraiser. Look for someone that has designated credentials and 20 years in the business.

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You do realize that if it sold quickly then your friend likely left a shitload of value(>7%) on the table and if your friend is an OT alpha a shitload of home value is a shitload of money. So if your buddy lives in a doublewide tell him great job.

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Every advertisement for a real estate agent usually states how quickly they can sell your house, and there is really no incentive for a agent to keep a house on the market to achieve top dollar. On a $250k house they stand to earn $15K, getting you a extra 10 grand only nets them another 600 bucks, or half that if they are splitting commission with a buyers agent.

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Go back to running their own home pornography business?!?!

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FIFY

Sounds to me like y'all need to look up 1% List!