U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-06-2012, 03:41 PM
 
1,722 posts, read 2,270,054 times
Reputation: 3414

Advertisements

Quote:
Originally Posted by Greatday View Post
Well, we note with amusement your bias and bigotry towards the professionals in the Real Estate. Your jealousy on a REALTORS income is also duly noted. REALTORS do not make too much money. You should look up studies showing that REALTORS, on average, make less than 30K a year.
I dont know what most realtors make and I dont care. I look at value added to determine whether or not something is worth it. I dont complain about what I pay my doctor at all. I see very little value added in a real estate transaction from a realtor.

Quote:
Originally Posted by Greatday View Post
I also will assume that YOU know NOTHING about how to finance property in 2012 - I will also presume you know NOTHING about marketing property in 2012. ETC.
I invest in real estate - I have closed over 50 transaction in the last 12 months....I know more than 99% of realtors know about financing property. I may not know how to finance a poor credit buyer, but I can walk a regular Joe through financing a house with zero problems.

In terms of marketing a property it is VERY easy. Put it on the internet. Take Good Photos. Be sure the Address & Schools are correct, and add a google map. Your Done. Nobody reads spam email or opens your junk advertisements in the newspaper or direct mailers. Realtors advances with online listing is exactly what is putting you out of business. Your profession is failing to keep up with the technology. Its pretty much the last profession that refuses to lower rates despite having your job automated. Nearly all of my friends and family (30-40 people) have purchased property in the last 18 months and not a single one of them had a realtor show them a property that they had not already found themselves via the internet....they just needed someone to open the door. 9 times out of 10 the listing agent refuses. Its nothing but commission protection.

Quote:
Originally Posted by Greatday View Post
In Arizona, REALTORS have a very professional relationship with the legal profession. We respect each others knowledge. We have MANY attorneys - nationally recognized attorneys - who are members of the REALTORS Association -

Your lack of professionalism in your responses are indicative of your narcissistic personality.

My lack of professionalism?! That is a good laugh. It just drives me crazy when realtors post things telling people that they cant do these things themselves....just about every post is that you need to consult your agent, get an agent, or you cant do that without an agent.

I merely have pointed out that many of the threats from the REALTORS and their esquires are idle....I object to paying huge sums of money to do something I can do myself with very little effort. Realtors serve a purpose for some, but they are far from necessary for all...the sooner real estate agents realize that and adjust their business model the better off the industry will be. Right now all the regular people on the outside see is protection of the commission at all cost.

 
Old 08-06-2012, 03:54 PM
 
Location: Salem, OR
13,741 posts, read 31,556,293 times
Reputation: 12105
Quote:
Originally Posted by marksmu View Post
When a buyer already has chosen his property - a realtor on his side is non-essential. Realtors can not grasp that. An attorney is superior in every way in this regard.
Um, yeah. Tell that to Pajama Mama. Yes, the three attorneys involved in her situation were all above board.

Buyers and sellers need good professionals whether they are a real estate agent or attorney. It is the quality of the individual that matters.



Quote:
Originally Posted by marksmu View Post
Realtors/Brokers DO make too much money. They are a leach on homeowners. The internet is doing 8/10 of their job for them now and yet they don't lower their commissions. Realtors refuse to even show homes FSBO b/c they are scared of not getting paid. Its pathetic....There would not be so many people frustrated with realtors if they felt that they got their money worth out of the transaction.
You are confused. The reason real estate commissions are so high is because sellers are paying for the privilege of not paying. If the seller wanted to pay for services for a reasonable fee, then agents would charge a retainer and an hourly or flat rate that is due upon close of escrow. Consumers overwhelmingly don't want this model and when given a choice, most will choose to pay more in order to not have to pay even if the home doesn't sell. I've said this a bazillion times on here. I know this from personal experience as consumers are offered a choice by me for 8 years. In the hot market, where the risk was low for sellers, abut 50% took the gamble and paid less but guaranteed payment. In this slow market, it is 100% choosing traditional real estate commissions.

Agents don't make too much. High risk means high reward. It is that simple.
 
Old 08-06-2012, 04:01 PM
 
Location: Salem, OR
13,741 posts, read 31,556,293 times
Reputation: 12105
Quote:
Originally Posted by marksmu View Post

I invest in real estate - I have closed over 50 transaction in the last 12 months....I know more than 99% of realtors know about financing property. I may not know how to finance a poor credit buyer, but I can walk a regular Joe through financing a house with zero problems.
Volume investors don't need real estate agents as they are in the market enough to know what is happening. Most people sell or buy a home once every 7 years and need more help. You aren't the norm.



Quote:
Originally Posted by marksmu View Post
Realtors serve a purpose for some, but they are far from necessary for all...the sooner real estate agents realize that and adjust their business model the better off the industry will be. Right now all the regular people on the outside see is protection of the commission at all cost.
Consumers want this business model which is why is sticks. You are assuming that people think or act like you, which is not the case. Limited representation models, fee-for-service, et al, are all choices. Consumers are often just too lazy to seek out other options, but they are there.
 
Old 08-06-2012, 04:10 PM
 
4,383 posts, read 8,678,519 times
Reputation: 2331
Quote:
Originally Posted by Captain Bill View Post
It is about the price of the risk. There is no requirement for an agent to renegotiate a contract, and there is a law against tortious interference with a third party contract.

The listing agreement is between the agent and seller. The purchase agreement is between the buyer and seller. The agents commission cannot be negotiated within a purchase contract.
Can you point to a successful case of a listing agent suing a layman for tortuous interference in a purchase contract?
 
Old 08-06-2012, 04:55 PM
 
3,404 posts, read 4,138,299 times
Reputation: 2397
Quote:
Originally Posted by jdm2008 View Post
Can you point to a successful case of a listing agent suing a layman for tortuous interference in a purchase contract?
I think you're missing the point. There isn't any need to sue anybody. The seller can't renegotiate the terms of the listing contract once it's signed and the buyer has no say in it either way.
 
Old 08-06-2012, 05:16 PM
 
4,383 posts, read 8,678,519 times
Reputation: 2331
Quote:
Originally Posted by Zyngawf View Post
I think you're missing the point. There isn't any need to sue anybody. The seller can't renegotiate the terms of the listing contract once it's signed and the buyer has no say in it either way.
I am responding to a specific claim about the(supposed) illegality of negotiating the listing agents commission from the buyer. That's the point and it is very relevant.
 
Old 08-06-2012, 05:32 PM
 
Location: Phoenix AZ
5,920 posts, read 10,440,488 times
Reputation: 9226
Quote:
Originally Posted by jdm2008 View Post
I am responding to a specific claim about the(supposed) illegality of negotiating the listing agents commission from the buyer. That's the point and it is very relevant.
You can google the term to see what it means, I assure you it isn't a made-up term. As for application, the most likely target wouldn't be the buyer, it would be the seller, for breaching the contract terms. Is that common?, no - most people pay their bills & honor signed contracts.
 
Old 08-06-2012, 05:35 PM
 
Location: DFW - Coppell / Las Colinas
29,922 posts, read 34,526,470 times
Reputation: 35919
Quote:
Originally Posted by marksmu View Post
My lack of professionalism?! That is a good laugh. It just drives me crazy when realtors post things telling people that they cant do these things themselves....just about every post is that you need to consult your agent, get an agent, or you cant do that without an agent.

I merely have pointed out that many of the threats from the REALTORS and their esquires are idle....I object to paying huge sums of money to do something I can do myself with very little effort. Realtors serve a purpose for some, but they are far from necessary for all...the sooner real estate agents realize that and adjust their business model the better off the industry will be. Right now all the regular people on the outside see is protection of the commission at all cost.
Everything you've typed is a general statement towards attorneys. Why does Law Schools continue to pump out more than needed in this world. Why do attorneys lack professionalism with such a low image by the public?

We could discuss for hours the different methods attorneys collect fees. There is much room for taking advantage of a client in your line of work.

Your line of work does not need to criticize any other for it's bad image problems.
 
Old 08-06-2012, 05:39 PM
 
Location: Phoenix AZ
5,920 posts, read 10,440,488 times
Reputation: 9226
Quote:
Originally Posted by marksmu View Post
I dont know what most realtors make and I dont care. I look at value added to determine whether or not something is worth it. I dont complain about what I pay my doctor at all. I see very little value added in a real estate transaction from a realtor.



I invest in real estate - I have closed over 50 transaction in the last 12 months....I know more than 99% of realtors know about financing property. I may not know how to finance a poor credit buyer, but I can walk a regular Joe through financing a house with zero problems.

In terms of marketing a property it is VERY easy. Put it on the internet. Take Good Photos. Be sure the Address & Schools are correct, and add a google map. Your Done. Nobody reads spam email or opens your junk advertisements in the newspaper or direct mailers. Realtors advances with online listing is exactly what is putting you out of business. Your profession is failing to keep up with the technology. Its pretty much the last profession that refuses to lower rates despite having your job automated. Nearly all of my friends and family (30-40 people) have purchased property in the last 18 months and not a single one of them had a realtor show them a property that they had not already found themselves via the internet....they just needed someone to open the door. 9 times out of 10 the listing agent refuses. Its nothing but commission protection.




My lack of professionalism?! That is a good laugh. It just drives me crazy when realtors post things telling people that they cant do these things themselves....just about every post is that you need to consult your agent, get an agent, or you cant do that without an agent.

I merely have pointed out that many of the threats from the REALTORS and their esquires are idle....I object to paying huge sums of money to do something I can do myself with very little effort. Realtors serve a purpose for some, but they are far from necessary for all...the sooner real estate agents realize that and adjust their business model the better off the industry will be. Right now all the regular people on the outside see is protection of the commission at all cost.
If you've closed 50 deals in the past twelve months, Why don't you have a license? Are you trying to avoid liability in these transactions? I'd bet that's the same reason "9 out of 10 listing agents won't open the door" - the liability exceeds the reward.
 
Old 08-06-2012, 05:53 PM
 
Location: NJ
17,579 posts, read 38,295,421 times
Reputation: 16098
Don't think realtors add value? Don't use one.
Don't like the commission structure? Try and work out a fee for service contract.

Options for everyone.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top