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Old 10-19-2013, 08:13 PM
 
3,433 posts, read 5,719,256 times
Reputation: 5470

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Quote:
Originally Posted by VickiR View Post
Real Estate Agents are not employed by the company. We are independent contractors. It is up to the company to keep US happy! Otherwise, we leave that company and go to another company.

And, it isn't up to me to SELL a buyer their home. It is up to me to assist them in finding it and assist them in negotiating it and assist them in getting to closing.

I am NOT going to comment on your second statement because I am a sweet southern girl.
What does the company get out of having you " independent contractors" use their name?

If a company named " White Realty" makes no commission off the agents, how does Mr White make a living ?
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Old 10-19-2013, 08:48 PM
 
Location: Raleigh, NC
12,475 posts, read 32,136,501 times
Reputation: 9450
I didn't say the company makes no money. They get a split that is determined between the Realtor and the company.
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Old 10-19-2013, 10:23 PM
 
Location: Needham, MA
8,525 posts, read 13,900,415 times
Reputation: 7908
Quote:
Originally Posted by jojobeans2 View Post
My buyers agent tried to convince me not to negotiate the price down. I did it anyway and it got accepted.

But I will always remember her saying "Isn't this down enough? You don't need to counter since it's right at your maximum price range, so it's already in your budget."
Your agent sounds pretty bad. Perhaps you should have fired her long ago. In my opinion, consumers are equally at fault for the bad reputation that this industry has. If more clients fired their poor performing agents then they wouldn't earn any commissions. If the bad agents stop making money they'll be out of the industry pretty quickly.

Quote:
Originally Posted by jojobeans2 View Post
It really does strain you to buy at the very top of your budget, especially if comps show the house is already overpriced, but of course the realtor doesn't care about your financial strain.
Some do, some don't. You're painting with a pretty broad brush and that's really unfair to those of us who do care.

Quote:
Originally Posted by Teddy52 View Post
Wouldn't the real estate company make more money where there is a 6% commission ( not having to be split with another COMPANY ) vs a 3% commission when it has to be split with a realtor from a different company?
The real estate company does but the agent who is working directly with the client does not make any additional money.

Quote:
Originally Posted by Teddy52 View Post
I'm thinking there must be some incentive to keep your boss ( the real estate company who employs you ) happy with bigger commissions.
The agent's "boss" is really the client and not the managing broker. As other's have said, the brokers want to keep us around. Personally, I'm just as happy to associate with one office as another. In the end, the client is not buying the name on the door (Prudential, Coldwell Banker, Keller Williams, Re/Max, etc) they're buying me. If I keep my clients happy, I get commissions and referrals. If I keep my broker happy, I get squat especially if that happens at the expense of keeping my client happy.

What Mike suggests about a more favorable split if you sell an in house listing is interesting. I think that might be illegal in my state. I vaguely recall it coming up in a continuing education class. Regardless, only a moron would screw over their client to keep a few extra percent/dollars of one commission. The referrals and future business they would get from that client if they had made them happy instead would be worth far more.
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Old 10-19-2013, 10:39 PM
 
3,433 posts, read 5,719,256 times
Reputation: 5470
I will bet if you contacted an agent and listed 8 criteria you want in a house, the agent would show you houses from his company that matched 6 out of 8 before they showed you a MLS listing from another company that matched all 8.

I would think an ideal buyers agent would be one starting to ease into retirement and being a buyers' agent only.

Thus , they would have no listings of their own as the selling agent.
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Old 10-19-2013, 10:43 PM
 
Location: northern va
1,736 posts, read 2,874,759 times
Reputation: 1688
Quote:
Originally Posted by Teddy52 View Post
I will bet if you contacted an agent and listed 8 criteria you want in a house, the agent would show you houses from his company that matched 6 out of 8 before they showed you a MLS listing from another company that matched all 8.

I would think an ideal buyers agent would be one starting to ease into retirement and being a buyers' agent only.

Thus , they would have no listings of their own as the selling agent.
didnt read the whole thread, but if I was a buyer and found numerous homes that fit those criteria, I'd be canceling that relationship if the buyers agent for some reason did not arrange to show the other homes (outside of the buyers agent office)
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Old 10-20-2013, 06:28 AM
 
8,005 posts, read 7,118,293 times
Reputation: 18162
Quote:
Originally Posted by Teddy52 View Post
I will bet if you contacted an agent and listed 8 criteria you want in a house, the agent would show you houses from his company that matched 6 out of 8 before they showed you a MLS listing from another company that matched all 8.

I would think an ideal buyers agent would be one starting to ease into retirement and being a buyers' agent only.

Thus , they would have no listings of their own as the selling agent.

It's already been explained but you don't understand how it works. As a buyer's agent I have no incentive to show my company's listings before other broker's listings. The listing agent in my company doesn't give me a cut of her listing fee. I only get what is offered to the buyer's broker on the MLS whether it's my company or another.

Another nonsensical thought here is that an agent would rather sell their own listing. If an agent winds up getting both sides of the transaction, both parties, buyer and seller, are probably going to want them to take a cut. That's in evidence by multiple threads here on CD. She's better off selling her buyers another agent's listings.

Contrary to the word on the street, we buyer's agents are not involved in some mass conspiracy to screw over hapless buyers. My goal is to get you the property you want at the best possible price and terms with no thought of which deals might be better for me. Doing that with every client has, so far, produced satisfactory 1099s. Being fair and honest is actually less work than being devious.
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Old 10-20-2013, 06:45 AM
 
Location: Big skies....woohoo
12,420 posts, read 3,220,144 times
Reputation: 2203
We had a buyer's agent until the appraisal was done. It came in low, The agent looked at me and said, "well, we'll just get another appraisal." I told her if she did that, she could find another buyer. We got the house for the appraised value, but we didn't allow her in to the closing, and never spoke with her again. That's just crooked.
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Old 10-20-2013, 06:59 AM
 
Location: Cary, NC
43,028 posts, read 76,529,724 times
Reputation: 45337
Quote:
Originally Posted by Mainer61 View Post
We had a buyer's agent until the appraisal was done. It came in low, The agent looked at me and said, "well, we'll just get another appraisal." I told her if she did that, she could find another buyer. We got the house for the appraised value, but we didn't allow her in to the closing, and never spoke with her again. That's just crooked.
Some buyers WANT another appraisal, particularly when the originally appraisal has clearly been botched.
And some sellers will not bend on contract price.

But, no agent should be pushing the client to get another appraisal just because one comes in low.
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Old 10-20-2013, 07:56 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,891,019 times
Reputation: 4019
Quote:
Originally Posted by Teddy52 View Post
I will bet if you contacted an agent and listed 8 criteria you want in a house, the agent would show you houses from his company that matched 6 out of 8 before they showed you a MLS listing from another company that matched all 8.

I would think an ideal buyers agent would be one starting to ease into retirement and being a buyers' agent only.

Thus , they would have no listings of their own as the selling agent.
I'll take that bet. MOST agents have no interest in acting that way, and are offered no incentive to do so. Will you find some tiny percentage who will do so for some reason? Probably. Is there any financial motivation for most agents to do so? No, there is not.
If a property is listed in an MLS, the same compensation is offered to all agents in that MLS, whether they are from the same brokerage as the listing agent or from another one.
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Old 10-20-2013, 09:03 AM
 
Location: Raleigh, NC
12,475 posts, read 32,136,501 times
Reputation: 9450
Quote:
Originally Posted by Teddy52 View Post
I will bet if you contacted an agent and listed 8 criteria you want in a house, the agent would show you houses from his company that matched 6 out of 8 before they showed you a MLS listing from another company that matched all 8.

I would think an ideal buyers agent would be one starting to ease into retirement and being a buyers' agent only.

Thus , they would have no listings of their own as the selling agent.
I'd take that bet, as well.

I don't know what is more frustrating...people that know nothing about what they are taking about and won't admit it or people that think they know and are so so wrong.

With all the websites out there, including Realtor.com, Zillow, Trulia, most of my buyers do their own searching. I do my searches. We discuss what we've all found and THEY make the decision as to what THEY want to see. So, how would I even go about telling them that they can't see THEIR choices but they have to see only my company's listings. Do you think an educated consumer would stand for that?

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