Is 6% commission too high? (flat fee, brokers, houses)

[mojo_1979]

Mark,

You'll have to forgive me for my contemptuous remarks. But I'm sure you can understand why realtors, in general, have lost and are continuing to lose their credibility.

One only has to look to the top of the mountain and see the rediculous cheerleading and rotten advice being spewed by the "Chief Economist" of the NAR. David Lereah and now Lawrence Yun should be ashamed to call themselves an economist at all. Their news releases have become absolutely laughable. They've been calling a bottom for sometime now and have now boldly predicted that prices will begin rising in the 2nd half of 2008, even though Merrill Lynch, a bank that originates loans, has stated that they expect prices to drop 15% in 2008 Housing prices to free fall in 2008 - Jan. 23, 2008 !!! Their absurdity leaves a bad taste in the mouths of many educated people who can see right through these shills. Not to mention the ludicrious commercials they now have running. Have you seen them? Even though prices are dropping they're essentially trying to make the sheeple believe that their house will double in value in just 10 years.

While you may be a man of character, you have to recognize that the NAR is doing irreversible damage to the credibility of all realtors.

[Mark Sr.]

Originally Posted by mojo_1979

Mark,

You'll have to forgive me for my contemptuous remarks. But I'm sure you can understand why realtors, in general, have lost and are continuing to lose their credibility.

One only has to look to the top of the mountain and see the rediculous cheerleading and rotten advice being spewed by the "Chief Economist" of the NAR. David Lereah and now Lawrence Yun should be ashamed to call themselves an economist at all. Their news releases have become absolutely laughable. They've been calling a bottom for sometime now and have now boldly predicted that prices will begin rising in the 2nd half of 2008, even though Merrill Lynch, a bank that originates loans, has stated that they expect prices to drop 15% in 2008 Housing prices to free fall in 2008 - Jan. 23, 2008 !!! Their absurdity leaves a bad taste in the mouths of many educated people who can see right through these shills. Not to mention the ludicrious commercials they now have running. Have you seen them? Even though prices are dropping they're essentially trying to make the sheeple believe that their house will double in value in just 10 years.

While you may be a man of character, you have to recognize that the NAR is doing irreversible damage to the credibility of all realtors.

Forgiven, and sure I understand why we are losing credibility as a whole. My posts were to defend myself and other agents who do the right thing and treat clients as clients. I am certainly not the only one, but we typically are much less visible.

I studied economics in college and graduated in '92 in the middle of a horrendous time for the real estate market. I tend to be pessimistic on economic matters. I have my own theories of today's economy that I could spew for hours.

Any point can be made with statistics. And no one has a crystal ball. This Spring and early Summer will tell us alot about the future.

-Mark

[DavidS827]

Originally Posted by Mark Sr.

Any point can be made with statistics. -Mark

I once had a statistics professor tell me that 80% of all statistics are made up.

[car54]

I've sold a few houses and I like my Realtor.

He is a retired Air Force general that owns his own brokerage, that he operates out of his house. He charges 1+3%...he gets 1% and the selling agent/broker split the usual 3%. If he sells the property, total commission is 3%, though he admits that it's highly unlikely he will sell it.

He's a tech nut and makes use of all the latest stuff to market the property. He sends almost daily e-mails on lockbox activity, etc.

The best part is NO listing periods...he says, "If, at any time, you're not pleased with my performance, all I need is 24 hours notice to terminate the listing".

The only thing he does not do is open houses, which he maintains are useless to the homeseller. Open houses benefit realtors, not the home seller.

I agree.

[Fairfax Mom]

car54 - when I am ready to sell again - I want the name of your realtor!

mojo -I love the way you wrote "sheeple" I am always saying most people act like sheep - following the herd...

[Southern_Transplant]

How do buyer agents know the commision the seller pays? It's not included in the listing is it?

[Mark Sr.]

On the contracts we use, the commission split is spelled out in the listing agreement and this is conveyed in the MLS on the agent report of the listing.

-Mark

[McScootch]

Greg Lydell of Select Realty is also an honest, reliable realtor if you're ever in need.

[scimitar12]

Originally Posted by DavidS827

I once had a statistics professor tell me that 80% of all statistics are made up.

Reminds me of a quote; not sure who said it or how it actually goes...

There are liars, damn liars, then there are statisticians.

[shoboo75]

Quick question...

If the realtor belongs to a company like Remax or Century, how much of the 3% will he get? Does the company keep most of it? If he only gets half of the 3% how much can he possible share?!

Thanks!