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Old Yesterday, 05:18 PM
 
Location: Lone Mountain Las Vegas NV
13,208 posts, read 4,979,195 times
Reputation: 5823

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It is what happens when you set up businesses who have no real interest in their prime mission.

RE Brokers do not make their money off the buying and selling of real estate. They make it off the body count and desk rent. The big technology pushes on the brokerage side are for recruiting agents not clients.

So given that recruiting clients is not a big thing nor is seeing they get good service. The brokerage issue is generally to not break the law. Other than that there is very little drive toward providing a high quality service. And often it is the slick salesman who does well. May well be close to brain dead on the technical size of real estate but can often support multiple underlings to increase the head count. The lead agent in our office for instance is actually a team of 15 people. He happens to be a reasonably competent agent but many like him are strong salesman and weak agents.

One of the things that could happen would be to make the brokerages actively supervise their agents. They don't. The supervision today is almost exclusively secretarial. A set of clerical that fine tooth comb the paperwork to make sure it is all there and complete. The quality of the completed packages however is virtually never looked at.
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Old Yesterday, 09:53 PM
 
522 posts, read 374,117 times
Reputation: 512
I find the agents in vegas (and I only have experience with vegas but can see it applicable to the entire usa) UTTERLY lazy and incompetent.

I'm used to dealing with agents in the uk that work from 1%-1.5% commissions. (only the seller has an agent, if the buyer wants to see different properties, he goes to different agents)

I can not for the life of me understand what agents do here that makes them ANYWHERE near worth what they charge. The listing agent sticks a combination lock on the door, takes a couple of VERY half assed photos and, well thats pretty much it.

In the uk pretty much every property will have professional photographs taken, and a proper FLOORPLAN. Oh for the love of god how much I'd have killed to see a floor plan when real estate shopping here.

If anything the buyers agent at least does something, but really, this real estate agent stuff is a joke.
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Old Today, 03:16 AM
 
Location: Portland, OR
5,768 posts, read 6,001,402 times
Reputation: 6627
It is a joke. An absolute joke. Especially at the higher end, though. It’s one thing to make 3% on a cheapo $200,000 house but the same 3% on a 600-800K house or beyond is nonsense. It doesn’t take longer to sell or more work. I have sold homes in that price in 24 days and one time two months but that’s because she wasn’t doing her job properly. Even then two months isn’t bad.

It’s an issue that they leave a lock box and aren’t even there, to me, because a nicer home has upgrades that need explanation. I don’t buy a TV without going over the features endlessly ad the input lag and upscaling and contrast ratio and local light control, etc. If a buyer isn’t told exactly what is going on with the house - here’s where the $50K in upgrades went and here’s why you should care - a 5-10 minute walk through won’t convince them. It means basically in this country good luck with upgrades, the buyer won’t care, or have anyone explain to them why they should care. The amazing lack of research and time spent on choosing a house - the most expensive purchase people make by far - is mind boggling.

I also would kill for a floor plan every time. That’s another reason I went with new construction. I don’t know anything from just pictures. Is the fun space right next to the master? Because that’s a major problem to me. Is the fun space directly above or below the master? Also an issue. Is the master next to the laundry room or is there some space? Not an issue but something I’d like to know. The floor plan is the #1 most important thing to me looking at houses because I’m conscious of noise issues with not going to sleep and waking up at the same time as my GF every day. I need a space where she can’t hear me gaming or watching movies and the floor plan is how I can figure out if that’s doable.
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Old Today, 09:51 AM
 
79 posts, read 27,317 times
Reputation: 81
Quote:
Originally Posted by JonathanLB View Post
It is a joke. An absolute joke. Especially at the higher end, though. Itís one thing to make 3% on a cheapo $200,000 house but the same 3% on a 600-800K house or beyond is nonsense. It doesnít take longer to sell or more work. I have sold homes in that price in 24 days and one time two months but thatís because she wasnít doing her job properly. Even then two months isnít bad.

I don't understand the joke. Most Realtors don't make very much money as it's a pretty competitive field. Yes, in recent years lots of them have made better livings but from 2006 to 2011 there were a lot of starving Realtors. Plus, most people who list more valuable homes don't pay 6% but rather 4-5% is more common in my experience. I would say if it seems like such easy money you should give it a try and then report back what your NET income is after one year.
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Old Today, 03:14 PM
 
Location: Lone Mountain Las Vegas NV
13,208 posts, read 4,979,195 times
Reputation: 5823
Quote:
Originally Posted by JonathanLB View Post
It is a joke. An absolute joke. Especially at the higher end, though. Itís one thing to make 3% on a cheapo $200,000 house but the same 3% on a 600-800K house or beyond is nonsense. It doesnít take longer to sell or more work. I have sold homes in that price in 24 days and one time two months but thatís because she wasnít doing her job properly. Even then two months isnít bad.

Itís an issue that they leave a lock box and arenít even there, to me, because a nicer home has upgrades that need explanation. I donít buy a TV without going over the features endlessly ad the input lag and upscaling and contrast ratio and local light control, etc. If a buyer isnít told exactly what is going on with the house - hereís where the $50K in upgrades went and hereís why you should care - a 5-10 minute walk through wonít convince them. It means basically in this country good luck with upgrades, the buyer wonít care, or have anyone explain to them why they should care. The amazing lack of research and time spent on choosing a house - the most expensive purchase people make by far - is mind boggling.

I also would kill for a floor plan every time. Thatís another reason I went with new construction. I donít know anything from just pictures. Is the fun space right next to the master? Because thatís a major problem to me. Is the fun space directly above or below the master? Also an issue. Is the master next to the laundry room or is there some space? Not an issue but something Iíd like to know. The floor plan is the #1 most important thing to me looking at houses because Iím conscious of noise issues with not going to sleep and waking up at the same time as my GF every day. I need a space where she canít hear me gaming or watching movies and the floor plan is how I can figure out if thatís doable.
There is very wide variability in the effort as you get to the more expensive homes. Houses over a million for instance have around a years inventory. And the time it takes and the cost increase with price.

On a complex house I may very well attend virtually every showing. May not even allow it to be shown if one of us is not there. You can gimmick a lock box so that a special code is required to open it.

We prepare a floor plan for every home we list.
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Old Today, 03:22 PM
 
Location: Portland, OR
5,768 posts, read 6,001,402 times
Reputation: 6627
Quote:
Originally Posted by longviewJoe View Post
I don't understand the joke. Most Realtors don't make very much money as it's a pretty competitive field. Yes, in recent years lots of them have made better livings but from 2006 to 2011 there were a lot of starving Realtors. Plus, most people who list more valuable homes don't pay 6% but rather 4-5% is more common in my experience. I would say if it seems like such easy money you should give it a try and then report back what your NET income is after one year.
Uhh, just because someone gets their license doesnít make them a real agent any more than having a degree makes you a real whatever. If youíre only able to sell TWO houses per year and youíre complaining about your income, youíre an idiot. I have videographers who say that. ďBut I need to make $1,500/day because I only get 4 days of work per month!Ē Thatís a you problem, not a me problem. Iím not subsidizing you to not work 26 days per month. Get a second job then. Lower your rates and maybe youíll get more work.

And no, nobody pays 4-5% on $600-800K houses. Maybe $4 million ones, sure, but an $800K house is nothing in any major city and youíre paying standard rates. Iíve gotten 5% in a very hot condo building and I got 5.5% last time but 4% isnít happening no. I donít have any desire to be a real estate agent - if you work for money alone and thatís your life, great, you do you. I wonít do anything I donít want to do and if the work isnít fun, Iím not doing it. I donít need to go be a real estate agent to tell you itís flat out absurd for an agent to make $22,000 for listing a house that sells in 24 days. Thatís obvious to anyone, except for you, apparently. Do you make $22,000/month? Is that the deal? Thatís an annual wage for some people and a nice house sells itself. Everyone uses Zillow and Redfin or whatever now days, they see the house, they buy the house.
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