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Old 02-19-2018, 08:53 AM
 
Location: Austin
11,039 posts, read 6,219,378 times
Reputation: 11929

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Quote:
Originally Posted by Marc Paolella View Post
This is, unfortunately, accurate. But in all professions, not just real estate.
yea sure, but most professionals aren't required for the greatest single purchase most people make in their entire lives. a person can be a real estate agent with very little education or experience.

there is a monopoly controlling real estate purchases and that monopoly is made up of people we wouldn't trust to babysit our kid without knowing them very, very well. yet, consumers have to use these marginally educated people we don't know to make an investment worth 100s of thousands of dollars.

the system is rigged because nar holds the data hostage, thus eliminating competition. other than healthcare, which also does this, name another 'profession' that lacks transparency?

Last edited by texan2yankee; 02-19-2018 at 09:10 AM..
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Old 02-19-2018, 08:59 AM
 
1,528 posts, read 726,575 times
Reputation: 2062
Quote:
Originally Posted by jackmichigan View Post
A faulty premise leads to a faulty conclusion.
Not sure what's faulty since the NAR itself talks about cooperation between seller's and buyer's agents. Pretty clear cut to me! 8 times in just this short statement. What exactly do you say is faulty? Wow, I still get charged with lies, faulty premises and conclusions, even when I'm saying the exact same thing as the NAR is saying!


>>>>
An MLS is a private offer of cooperation and compensation by listing brokers to other real estate brokers. In the late 1800s, real estate brokers regularly gathered at the offices of their local associations to share information about properties they were trying to sell. They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principal that's unique to organized real estate: Help me sell my inventory and I'll help you sell yours.
Today, through more than 800 MLSs, brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer. Sellers benefit by increased exposure to their property. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker.
The real estate market is competitive, and the business is unique in that competitors must also cooperate with each other to ensure a successful transaction. MLS systems facilitate that cooperation.
The MLS is a tool to help listing brokers find cooperative brokers working with buyers to help sell their clients' homes. Without the collaborative incentive of the existing MLS, brokers would create their own separate systems of cooperation, fragmenting rather than consolidating property information.
>>>>>
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Old 02-19-2018, 09:18 AM
 
Location: Rochester, WA
3,832 posts, read 2,056,232 times
Reputation: 10577
Quote:
Originally Posted by texan2yankee View Post

the system is rigged because nar holds the data hostage, thus eliminating competition.

The NAR doesn't own or hold the data.

Multiple listing services have the data.... and it is for the seller's safety and security, too, that only MLS members can have access to your private information and have access to your home.

Not sure you'd like the alternative better.
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Old 02-19-2018, 09:25 AM
 
Location: Austin
11,039 posts, read 6,219,378 times
Reputation: 11929
Quote:
Originally Posted by Diana Holbrook View Post
The NAR doesn't own or hold the data.

Multiple listing services have the data.... and it is for the seller's safety and security, too, that only MLS members can have access to your private information and have access to your home.

Not sure you'd like the alternative better.
I wouldn't pick a surgeon without knowing she had been a surgeon many years and performed the procedure hundreds of times.

yet, I must trust a real estate agent, who took a $300 course, passed a test and may have 6 months of experience, to pick which data i'm allowed to see to make a decision on a 100s of thousands of dollars purchase?

the alternative is the data is available to all. in many states it is already available, though MLS is still manipulated by nar games. for example, how many days a property has been on the market by resetting the clock to zero if the property is taken of the market for x days. the property may have been sitting for years, but the MLS shows 1 day, new listing!

real estate will change eventually and the monopoly will be broken.
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Old 02-19-2018, 09:29 AM
 
Location: Phoenix, AZ
1,241 posts, read 481,284 times
Reputation: 2833
Imaginary beings:


Tooth Fairy
Santa Claus
Easter Bunny.
Buyer's Agent.


The Buyer's agent is working for the commission just like the seller's agent and will say and do anything to get the house sold.


If you want a real Buyer's agent, ask the agent to waive his commission and pay him $500 to work for you. Good luck with that.
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Old 02-19-2018, 09:47 AM
 
Location: Rochester, WA
3,832 posts, read 2,056,232 times
Reputation: 10577
Quote:
Originally Posted by texan2yankee View Post
I wouldn't pick a surgeon without knowing she had been a surgeon many years and performed the procedure hundreds of times.

yet, I must trust a real estate agent, who took a $300 course, passed a test and may have 6 months of experience, to pick which data i'm allowed to see to make a decision on a 100s of thousands of dollars purchase?

the alternative is the data is available to all.
What? What are you talking about? The MLS information I am talking about protecting is the seller's contact information and instructions and access for gaining entry into the home. Surely we don't want that available to all?

The information that should be public, the square footage, details, pictures.... that is available to all.


Quote:
in many states it is already available, though MLS is still manipulated by nar games. for example, how many days a property has been on the market by resetting the clock to zero if the property is taken of the market for x days. the property may have been sitting for years, but the MLS shows 1 day, new listing!
In our market, it's 90 days. I've never heard someone have an issue with this. It's usually not a secret, if the house has been on the market before, or if it's been vacant for years, that evidence is out there.
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Old 02-19-2018, 09:55 AM
 
Location: Rochester, WA
3,832 posts, read 2,056,232 times
Reputation: 10577
I want to expand on something I said here:

Buyers choose the house they want! My job is to help them get it. That means negotiating a LOT of details with other people, and my buyers appreciate that I help out with all those negotiations.

On edit:

Let me expand by saying this also... Buyers choose the house they want! My job is to help them get it... Until the moment they no longer want it, and then my job is to help them get out of it.

My job is to negotiate the purchase of the house, with enough of the right contingencies they need to make SURE they still want it at the end.

I have lost count of how many offers contracts we have canceled after inspections turned up needed repairs or defects that were beyond the skill and budget of our buyers. Helping them understand the ramifications of those defects and getting them out of that house if that is what they want is my job, even if it means my paycheck will now have to wait. Done it LOTS of times. Do it well and honestly, and usually that means a loyal client who eventually buys the right house.

Last edited by Diana Holbrook; 02-19-2018 at 10:30 AM..
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Old 02-19-2018, 10:03 AM
 
Location: Northern NJ
7,405 posts, read 7,365,248 times
Reputation: 10609
Quote:
Originally Posted by adjusterjack View Post
Imaginary beings:


Tooth Fairy
Santa Claus
Easter Bunny.
Buyer's Agent.


The Buyer's agent is working for the commission just like the seller's agent and will say and do anything to get the house sold.


If you want a real Buyer's agent, ask the agent to waive his commission and pay him $500 to work for you. Good luck with that.

This shows a lack of understanding of our business model. In 2018, a good real estate agent is a consultant, not a salesman at all. We don't sell anything. We are project managers for the purchase of real estate.
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Old 02-19-2018, 10:32 AM
 
Location: Columbia, SC
8,851 posts, read 17,447,111 times
Reputation: 6212
Quote:
Originally Posted by texan2yankee View Post
yea sure, but most professionals aren't required for the greatest single purchase most people make in their entire lives. a person can be a real estate agent with very little education or experience.

there is a monopoly controlling real estate purchases and that monopoly is made up of people we wouldn't trust to babysit our kid without knowing them very, very well. yet, consumers have to use these marginally educated people we don't know to make an investment worth 100s of thousands of dollars.

the system is rigged because nar holds the data hostage, thus eliminating competition. other than healthcare, which also does this, name another 'profession' that lacks transparency?
Yes it is reasonable to assume that a licensed person be knowledgeable but reality is the consumer needs to make good choices to interview and hire someone they can trust.
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Old 02-19-2018, 10:39 AM
 
Location: Northern NJ
7,405 posts, read 7,365,248 times
Reputation: 10609
Quote:
Originally Posted by Diana Holbrook View Post
I want to expand on something I said here:

Buyers choose the house they want! My job is to help them get it. That means negotiating a LOT of details with other people, and my buyers appreciate that I help out with all those negotiations.

On edit:

Let me expand by saying this also... Buyers choose the house they want! My job is to help them get it... Until the moment they no longer want it, and then my job is to help them get out of it.

My job is to negotiate the purchase of the house, with enough of the right contingencies they need to make SURE they still want it at the end.

I have lost count of how many offers contracts we have canceled after inspections turned up needed repairs or defects that were beyond the skill and budget of our buyers. Helping them understand the ramifications of those defects and getting them out of that house if that is what they want is my job, even if it means my paycheck will now have to wait. Done it LOTS of times. Do it well and honestly, and usually that means a loyal client who eventually buys the right house.
This is the point the agent trolls don't understand. They seem to think that any one commission matters and we chase it to the exclusion of the legitimate interests of the client. The truth, for a good agent, is that any one commission is irrelevant and the lifetime permanent relationship with the client is what we value. One client can lead to 20 other deals if they are treated well and if we have their trust and affection. We exist to protect their interests and act as counsellors. THAT is how we get the MOST commissions.
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