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Old Yesterday, 02:50 PM
 
149 posts, read 31,512 times
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Quote:
Originally Posted by Electrician4you View Post
No the buyer shouldn’t expect the seller to lower price by 6%. TMV is TMV regardless who is selling it. Or buy it at the negotiated price and there shouldn’t be any discounts expected because there is no agent involved. If I were to sell a property FSBO and a buyer expected a 6% discount because I’m FSBO I’ll gladly show him the door. If I’m priced at market value take a hike.
Well stated .. SOME folks have trouble with this concept it seems.
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Old Yesterday, 06:48 PM
 
Location: Raleigh NC
9,990 posts, read 7,522,099 times
Reputation: 8589
Quote:
Originally Posted by Taz22 View Post
This company has a lot of hidden costs and is full of gimmicks, but it goes back to people’s frustration with the poor performance of their agent. People are going to look for ways to shave off paying full commission, especially to an agent who hasn’t done much for them. They will go looking and find sites like this.

Over time, the real estate industry will evolve and change. I think, there will be more a la carte services for those who want them. People will opt for more diy services and possibly a lower broker’s fee. Not everyone needs to be guided every step of the way by a full service agent. Zillow and Realtor make it easy to find homes and read about them yourself and paperwork is done with docu sign, which is better than spending an hour in an office initialing a huge stack of papers. There will always be people who are intimidated by the house buying/selling process, but others will be willing to do more legwork themselves in order to save money. I’m ok with paying commission to a good agent, like the one who gets top dollar for the house and makes the process easy. Agents who don’t do much and still have their hands out for a commission check, are irritating. They are the ones who would make me look for a steep discount broker.
over time, the real estate industry HAS evolved and changed. Imagine that just 20 years ago or so there was no internet distribution of listings. no zillow. no realtor.com

there are a wide range of service/fee models already. A Seller can pay anywhere from $0 (pure FSBO) to 7%+ and everywhere in between. One thing that hasn't worked yet is "fee for service"/ a la carte. The subset of folks willing to lay out their cash for a $500 - 1000 fee (a "deep discount" entry only firm) + about $100/hr agent engagement - and do it UPFRONT, not at closing - hasn't been large enough. Maybe that changes.

But it's already available.

People need to compare agents, and their specific plans and history, before choosing them.
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Old Today, 01:36 PM
 
Location: Olympia area (for now)
1,611 posts, read 598,724 times
Reputation: 3319
Quote:
Originally Posted by BoBromhal View Post
over time, the real estate industry HAS evolved and changed. Imagine that just 20 years ago or so there was no internet distribution of listings. no zillow. no realtor.com

there are a wide range of service/fee models already. A Seller can pay anywhere from $0 (pure FSBO) to 7%+ and everywhere in between. One thing that hasn't worked yet is "fee for service"/ a la carte. The subset of folks willing to lay out their cash for a $500 - 1000 fee (a "deep discount" entry only firm) + about $100/hr agent engagement - and do it UPFRONT, not at closing - hasn't been large enough. Maybe that changes.

But it's already available.

People need to compare agents, and their specific plans and history, before choosing them.
The real estate industry has evolved and will continue to change. You’re right that Zillow and Realtor have changed the way we find listings. In ten or twenty years, new changes, websites and ideas will happen. My guess is that people will become more savvy and less afraid of the real estate process. Kind of like people opting to use Turbo Tax instead of an accountant.

I bet the FFS catches on in the future, but many people do resist putting cash up front. Somewhere, a smart person will come up with an idea to better market this, or roll more of the costs into closing.

As far as today’s real estate, I’ve learned about looking for agents with CRS credentials as well as ASR and ABR. You mention comparing agents, well CRS agents are at the top of their peer group, not a discount broker, but if they can really live up to doing the best job possible, they’re worth it. Trusting someone with your investment worth hundreds of thousands of dollars is scary when you think about it. An agent selling thirty houses a year with fifteen or twenty years experience, is far more reassuring than a cheap discount broker. Otherwise, with a 150k condo, look for discounts. A lot depends on the situation.
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