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I am currently studying to take the real estate exam and get my real estate license. Right now though I am having second thoughts about getting it as when I start off I heard it's hard to make any money, competition is fierce and I would need to cover most of my costs. Although the housing market has recently picked up and most realtors may be doing better I wanted to get others' perspective on this who have already started off.
what no one sees, or really cares about, is most all brokers, spend more hours NOT getting paid- meaning - a broker can show a client 15 different houses,,in three days, and client doesnt want any of them,,but thats 3 days time,,,without a penny...and it happens alot,,,houses that are listed, you pay for advertising,,etc, and the place doesnt sell, but you have a lot of time into this,,,you dont make a penny..
so, a property that actually closes, may represent two months worth of effort on many clients/properties, this is why r.e. agents have to be protective of commisions
and not to mention,,,that commission is not only split by two brokers,,,but then split again,,to the r.e. company the brokers work for.
This "reasoning" is used by agents all the time. As an unrepresented buyer, or a seller, its not my job to subsidize your failing leads or listings. If you want only easy deals that close every time then be more selective of the properties and clients you choose to accept.
I will not ever pay more for a service because someone else wasted your time. The fact that you waste time and money on other people is not, and never will be, my problem.
I will not ever pay more for a service because someone else wasted your time. The fact that you waste time and money on other people is not, and never will be, my problem.
The costs are built into any service you buy.
Hire an HVAC person and you are paying for all the people who stiffed him by being a no show.
Buy groceries and you're paying for all the people who shoplift.
Go to the Doctor and you're paying for all the people who don't pay their bill.
Getting appraisal and inspection is no hard work. Any real estate attorney can write a contract and go through closing papers for $500. Title company does most of the work anyways and most people already have financial institutions they prefer for mortgage.
Not everyone is equipped to do it but its easily doable for any person with an average IQ and some research skills.
I must add that it is awesome to have a good realtor on your side but not every realtor automatically should get qualified for 6% commission. Some earn it and deserve even a thank you gift and referrals but others just pocket it for work that is not worth even 1%.
Last edited by Maple Shade; 08-22-2013 at 09:44 AM..
Hire an HVAC person and you are paying for all the people who stiffed him by being a no show.
Buy groceries and you're paying for all the people who shoplift.
Go to the Doctor and you're paying for all the people who don't pay their bill.
Right. But no one wants to hear about it. I think if agents actually knew the reaction when they bring that up they would never talk about it. Its just bad marketing. People don't care how much your broker takes. Or how much rent you pay. Or how many sales didn't go through. They care about getting good service for the money they are paying.
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