We have arrived!!! (for sale, home, buyer)

[AdamAndTerri]

Ok--I have one for you. A Realtor here in AZ told me now things have slowed down from the "AZ real estate feeding frenzy" of last year, if I offer 8% (yep, I said 8%) commission, (3% for listing agent and 5% for the selling agent) my home will be sold super quick.

Figure 8% of 400K! YIKES! That's 32K!

I'm not an expert by any means, however, the only thing this means to me is my home may be one of the first ones that is shown with maybe a little extra "push" from the realtor to do the job they are supposed to be doing anyway. It doesn't mean that it has a better chance exceeding a buyers expectations resulting in a reasonable offer in 24 hours!

Don't you hate it when someone tries to insult not only your intelligence level, but also your common sense?

Gee, I sure wish I could walk in tomorrow and tell my employer that in order for me to work today, it's going to cost you an extra $5000.00 this week...and him say, "hmmm, well you have me scared, so, .... OK"

LOL

[RedNC]

Originally Posted by AdamAndTerri

Ok--I have one for you. A Realtor here in AZ told me now things have slowed down from the "AZ real estate feeding frenzy" of last year, if I offer 8% (yep, I said 8%) commission, (3% for listing agent and 5% for the selling agent) my home will be sold super quick.

Figure 8% of 400K! YIKES! That's 32K!

I'm not an expert by any means, however, the only thing this means to me is my home may be one of the first ones that is shown with maybe a little extra "push" from the realtor to do the job they are supposed to be doing anyway. It doesn't mean that it has a better chance exceeding a buyers expectations resulting in a reasonable offer in 24 hours!

Don't you hate it when someone tries to insult not only your intelligence level, but also your common sense?

Gee, I sure wish I could walk in tomorrow and tell my employer that in order for me to work today, it's going to cost you an extra $5000.00 this week...and him say, "hmmm, well you have me scared, so, .... OK"

LOL

Did they also want you to list for 20% below market to make it sell faster?

[ITChick]

Originally Posted by AdamAndTerri

Ok--I have one for you. A Realtor here in AZ told me now things have slowed down from the "AZ real estate feeding frenzy" of last year, if I offer 8% (yep, I said 8%) commission, (3% for listing agent and 5% for the selling agent) my home will be sold super quick.

Wow! I guess it's legal, but it sounds shady. I hope you don't have to resort to doing that.

[TornadoAlley]

Originally Posted by RedNC

Any agent that isn’t smart enough to make sure that his or her listing is accessible to anyone searching on the internet wont be in business much longer in today’s market.
Also any agent that is representing a customer and shows only what he/she will make the most commission on, had better hope the buyer doesn’t have internet access, or a car to drive around in the neighborhoods their interested in. The days of the realtors having all the power is over, most buyers are doing their own searches, online, print advertising, or driving around neighborhoods.

Again, respectfully disagree. Most agents do that are already in the HIGH six figures per year and really don't care.

Again with internet not being 100% reliable is an easy fix "already sold". The buyer still has NO WAY of showing if a house is in escrow NOR agent remarks on a house. This is for agents only.

As for no power. Not true. You need them to write the offer and to check if the house is still available. Just a sign without "sold" means nothing.

[TornadoAlley]

Originally Posted by AdamAndTerri

Ok--I have one for you. A Realtor here in AZ told me now things have slowed down from the "AZ real estate feeding frenzy" of last year, if I offer 8% (yep, I said 8%) commission, (3% for listing agent and 5% for the selling agent) my home will be sold super quick.

Figure 8% of 400K! YIKES! That's 32K!

I'm not an expert by any means, however, the only thing this means to me is my home may be one of the first ones that is shown with maybe a little extra "push" from the realtor to do the job they are supposed to be doing anyway. It doesn't mean that it has a better chance exceeding a buyers expectations resulting in a reasonable offer in 24 hours!

Don't you hate it when someone tries to insult not only your intelligence level, but also your common sense?

Gee, I sure wish I could walk in tomorrow and tell my employer that in order for me to work today, it's going to cost you an extra $5000.00 this week...and him say, "hmmm, well you have me scared, so, .... OK"

LOL

No. There is another way. 3% to the buyers agent, 3% to the sellers agent (6%) then offer to pay closing costs!

Its easy to comment on a subject you have no education on, I agree. The old saying is true, just because you have a license doesn't mean you can drive -or- just because you own a house doesn't mean you know the realestate business

As for work. Sure, get a RE license and do it or settle for 10hr.

[ITChick]

Originally Posted by TornadoAlley

Again with internet not being 100% reliable is an easy fix "already sold". The buyer still has NO WAY of showing if a house is in escrow NOR agent remarks on a house. This is for agents only.

I believe there is some truth to this and the other post TornadoAlley made. When I was looking at property here in Illinois and in Arizona, both times the Realtors told me that I should not rely on the internet alone (realtor.com) for listings as they were not reliable. The reasons given were that not all agents choose to list with realtor.com but prefer to use the local MLS instead. And due to the reasons TornadoAlley listed as well.

As to why, I was never given an explanation, but I was told the same "advice" from more than one R.E. Broker in different states.

[RedNC]

Originally Posted by TornadoAlley

Again, respectfully disagree. Most agents do that are already in the HIGH six figures per year and really don't care.

Again with internet not being 100% reliable is an easy fix "already sold". The buyer still has NO WAY of showing if a house is in escrow NOR agent remarks on a house. This is for agents only.

As for no power. Not true. You need them to write the offer and to check if the house is still available. Just a sign without "sold" means nothing.

I didn't say they weren't necessary, nor did I say they had "no power".

Your "six figure" friends are on a slippery ethics slope if they are intentually steering their clients to properties they choose. Also modifying the searches or entering false information in a way so that the buyer doesn’t see all the available properties is a possible ethics issue.

[tismekll]

Originally Posted by ITChick

I believe there is some truth to this and the other post TornadoAlley made. When I was looking at property here in Illinois and in Arizona, both times the Realtors told me that I should not rely on the internet alone (realtor.com) for listings as they were not reliable. The reasons given were that not all agents choose to list with realtor.com but prefer to use the local MLS instead. And due to the reasons TornadoAlley listed as well.

As to why, I was never given an explanation, but I was told the same "advice" from more than one R.E. Broker in different states.

The listing realtor pays for realtor.com..correct?

[Weis02]

Try to sell on your own as For Sale By Owner and many brokers will try to reel you in, on a case by case basis you can agree to pay them 1-2% if they sell, and there is no listing agent as that person is you- Many real estate contracts will also allow that if you sell on your own, they are not due any fee or a small percent. Hiring a realtor is a contract and like all of them, they can be negioated.

[TornadoAlley]

Originally Posted by ITChick

I believe there is some truth to this and the other post TornadoAlley made. When I was looking at property here in Illinois and in Arizona, both times the Realtors told me that I should not rely on the internet alone (realtor.com) for listings as they were not reliable. The reasons given were that not all agents choose to list with realtor.com but prefer to use the local MLS instead. And due to the reasons TornadoAlley listed as well.

As to why, I was never given an explanation, but I was told the same "advice" from more than one R.E. Broker in different states.

Thanks. Correct. I have no reason to lie I am not a RE Agent on here trying to drum up business nor to I have anything to gain. It's easy to comment on things you know little about. Again, I have personal experience with the subject at hand.