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Our Redfin agent was tremendous.... She went above and beyond for us; we enjoyed a seamless selling experience. Can't say enough good things about her or Redfin.
Traditional real estate agents hate anything that bites into their profits, so expect a lot of them to sound off in this thread.
In my experience real estate agents don't care that much about their profits. A few tens of thousands of dollars in the price only makes a few hundred dollars difference to their profit. They just want the deal closed ASAP. I actually prefer going to open houses than being shown houses by my agent because then I don't have to deal with the agent trying to convince me to buy each house.
I hate agents, have never had a good one, except one seller's agent. Buyers agents are the worst.
You must have read my Wisdom on the FB RTB in Real Estate thread!
It was great fun.
I showed a listing from a salaried brokerage on Friday at 6:00PM.
With a confirmed appointment that indicated there would be someone there to let us in, no one was there.
Instructions to open the condo were wrong. (After a while, we figured it out and got in.)
I called the number. Left VM. I emailed the contact information. No reply yet.
That salary is meaningless in terms of competence. Execution, ethics, service, integrity are not dependent on business model, W2 or 1099.
If an agent told me they had to have a salary to be ethical or to provide service, I would say, "PLEASE, get out of real estate," and would tell them to apply at Walmart to get a weekly paycheck.
I went to an Open House handled by a regular real estate agent recently. I got there well within the time parameters of the open house, only to find it locked up tightly, no agent, but the curtains open and the ceiling fan on. Another person came around from the back. He was there to see the house, too, only to find that it wasn't really an open house. It was a "view it through the windows" house. Total waste of time. Apparently the agent thought her time was too valuable to babysit an open house.
In my experience real estate agents don't care that much about their profits. A few tens of thousands of dollars in the price only makes a few hundred dollars difference to their profit. They just want the deal closed ASAP. I actually prefer going to open houses than being shown houses by my agent because then I don't have to deal with the agent trying to convince me to buy each house.
I hate agents, have never had a good one, except one seller's agent. Buyers agents are the worst.
I tend to agree with you. I've been house hunting. They have not been helpful AT ALL. They want a fast closing, since they make their money by volume. I've been lied to, pressured to sign exclusive agreements, not provided with information on neighborhoods, or anything other than offering to show the house and if I do view it, do I wanna buy it right away? When commenting how much work one house would require, the agent responds, "It's only money." I kid you not.
I even contacted a supposed relocation agent once. Her relocation expertise was to tell me "Let me know when you want to see something!" Yeah, that was really helpful. I expected info about the different areas to look in, the safer areas, the hot selling areas, the areas on the way up vs those on the way down, etc.
Recently I saw a house listed for sale on one site, but it was not on another. I was interested in it, so I emailed the listing agency and asked to confirm if it was for sale. I got a standard response that she was matching me with a personal agent to discuss the property. I responded that I don't need to be matched with anyone, since at this point I just want to know if the house is for sale. I kid you not that she responded that she could not confirm or deny that their agency has that house for sale...only a personal agent I've been matched with can do that. Strange but true tales from real estate world.
I went to an Open House handled by a regular real estate agent recently. I got there well within the time parameters of the open house, only to find it locked up tightly, no agent, but the curtains open and the ceiling fan on. Another person came around from the back. He was there to see the house, too, only to find that it wasn't really an open house. It was a "view it through the windows" house. Total waste of time. Apparently the agent thought her time was too valuable to babysit an open house.
Was she paid via W2/salary or as an independent contractor on straight commission?
You have clearly not yet worked with me. I ask what is important to you. I ask what do you want in a community/house. I match people with the housing I think works. Sometimes they find the propert first.
I have been working with a couple since September who would like to buy a two bedroom townhouse. I might make $4500. It hasn't happened yet so I don't know.
I hang my business model on smart contract writing, great negotiation skills and a knack for getting clients what they want.
I do not care if I am salaried or commission, I focus on what my clients want and the money comes later.
Skilled, high-level professionalism is a rarity in most fields. Real estate agents (especially buyers agents) definitely aren't excluded.
Exactly. There are a lot of lazy and incompetent real estate agents. But, there are lazy and incompetent people in most professions. However, with such a low barrier to entry, it shouldn't be surprising that the proportion of lazy and incompetent real estate agents is higher. Although typically makes me appreciate a good agent when I get one.
There's good agents and bad agents EVERYWHERE -- just like there are good doctors and bad doctors, good teachers and bad teachers . . . a sign over a door does not make a "good" agent. Redfin has a model that works for agents who need/want a steady paycheck instead of being more a risk-taker and working the commission model.
Stop trying to lump all real estate agents in one big pile and slapping a label on them. I know you're just trying to be provocative, so I'm not even going to try to fence with you. I'm just kinda laughing quietly at "all they want to do is make their money quickly." I'm working with one couple right now and we've been looking for almost six months. They would have bought a POS house 5-1/2 months ago if I hadn't talked them out of it, but in good conscience, I could not encourage them to buy a house that had major issues. They are first-time homebuyers, and part of my job, as I see it, is to teach them how to make good real estate decisions. Commute, neighborhood, re-sale ability, homes where the kind of upgrades they want to make are sensible and homes where they are an overimprovement, school districts, condition of the house (they are getting really good at spotting suspicious paint on ceilings that cover up water stains, and checking flashings on roofs. :-) I did have one house that I encouraged them to buy - good price, great neighborhood, nice greenspace behind the house for their dog, etc. -- but they decided that the commute was too long (a major issue in Atlanta). Did I take it personally? Uh -- no. I'M not the one that's going to be putting their check on the table and living there.
Their budget? Maybe $250K, tops. In this market, it's a modest amount, especially in the areas they are looking. These are not the "House Hunters" that are looking for $750,000 homes, or the "Love It Or Leave It" people that have a budget "between $800K and $900K" -- they just want a home where they can start a family, and something that they can sell easily when (not if) they get transferred. We will find a house, and when we do, it will be a good fit for them, their budget and their lifestyle. And they will remember that I guided them, instead of pushing them. Big difference.
Exactly. There are a lot of lazy and incompetent real estate agents. But, there are lazy and incompetent people in most professions. However, with such a low barrier to entry, it shouldn't be surprising that the proportion of lazy and incompetent real estate agents is higher. Although typically makes me appreciate a good agent when I get one.
I'll agree with this except I'd say ALL professions have lazy and incompetent people.
If you keep finding lazy, pushy, incompetent Realtirs, you're selection process is off. Or (bpollen) your expectations are not pre-educated to understand what a Realtor is hired to do for you and what they are legally allowed to say.
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