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Old 04-17-2018, 12:29 PM
5,682 posts, read 7,272,878 times
Reputation: 3198


Originally Posted by Silverfall View Post
There really isn't a cartel and you can already hire agents that charge hourly rates to sell homes. I know because I am one and have done so for 15 years. The really amazing thing is that consumers say they want to reduce fees, but I offer hourly to all of my listing clients and 95% of them choose to pay significantly more for the all or nothing commission model. It's true.

It is really hard for consumers to pay for hourly services since they are billed every 30 days. They actually prefer to pay more, and that is the reason why commission stay high. When offered the choice, consumers overwhelmingly agree to pay more.

Two years ago I had 5 clients pay me hourly and last year it was zero. What isn't going to happen, which is what consumers really want, is for agents to do an all or nothing commission model at a lower rate. I don't see that happening any time soon because every company that has done it has gone out of business. Even Redfin, won't do their model in lower-priced markets because they can't make enough money. Math always wins.
So are you saying if your clients paid you hourly they would have paid less? What is your hourly rate? Do you provide estimates on how many hours it typically takes to do certain tasks (write contracts, etc.)?
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Old 04-17-2018, 12:55 PM
Location: Raleigh NC
7,781 posts, read 6,136,961 times
Reputation: 6905
Originally Posted by vision33r View Post
Zillow and Trulia made it easier for buyers look and match homes. They have a cleaner and more consistent UI than sites like MLS or Realtor.com which is poorly organized. I don't like the Zestimate because it's highly inaccurate and actual sold prices of the area is often much lower than their estimate at some towns while other towns the estimates are too low compared to recent sold prices. There's too many factors to home prices besides location, size, and age.

Imo, Docusign and other digital document sites revolutionize buying and selling more by making contracts completely digitized and signing letters and having communication between parties done much quicker than waiting forever for snail mail to arrive.
there are parts of the Zillow UI that some folks prefer, there are parts of R.com that some prefer. and some of several of the wide variety of alternatives - otherwise we'd never hear about estately.com (I mean really? $60K foreclosure trailers on "estately"?).

Docusign and other e-signature programs certainly help, but they also haven't leaped us forward like the fax machine and smartphone. Any place that takes a docusign would take a faxed signature.
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