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By the way I heard it many times the sentence "it is in your best interest", "take this offer it is in your best interest".....even when I raised the listing price after a contract fell through, I was told that it wasn't smart, but I had another contract within 2 weeks for full amount and it closed. . I don't think my realtor or his broker should complain after they got more commission, and getting commission for 5 homes within 5 months!!!
Realtors should be paid by the hour and thats that.
Um no thanks pal. Go spend your own money and keep your hands out of my pocket. Your plan would have hurt me financially. My buyer's agent realtor got paid 2.5% commission on the $165K house I bought. He spent a lot of time on me both helping me find the house, negotiate the contract, and following up on issues all the way up to closing and beyond. If he charged me by the hour it would likely have added up to way more the 2.5% commission he did get. I got a deal.
This commission argument is as tired as it is lame.
I interviewed couple agents when i sold my first home a while back. The guy I hired had a good track record, excellent referals AND he was flexible with his comish. The second guy I blew off because he was all smoke and mirrors bragging about his track record yet I came to find out he was a n00b that only had less than 1 year experience yet still demanded his full comish? That was back then. That tactic wont get you too many sales now a days.
'If he charged me by the hour it would likely have added up to way more the 2.5% commission he did get.'
Wow. Really? Care to break it down by numbers? I find it hard to believe.
Let me put it to you this way. I wish my auto mechanic got paid by commission per reapir job and didn't charge and hourly rate. His $85 an hour crushes me. What kind of hourly rate do you think realtors would charge?
Um no thanks pal. Go spend your own money and keep your hands out of my pocket. Your plan would have hurt me financially. My buyer's agent realtor got paid 2.5% commission on the $165K house I bought. He spent a lot of time on me both helping me find the house, negotiate the contract, and following up on issues all the way up to closing and beyond. If he charged me by the hour it would likely have added up to way more the 2.5% commission he did get. I got a deal.
This commission argument is as tired as it is lame.
And that's really that!
Well 2.5% is better than 3%, and better than some realtor claimed to have gotten.....but doesn't want to show proof...he claimed 10% + free dinner giftcard
What happens when a realtor works with me for three months investing dozens of billable hours and then I decide not to buy a house?
Sure would stink to be on the hook to pay an hourly rate then when I don't even go through with a purchase! Nah, I'll stick to the comission based pay process instead. It works better for both parties in the end. Thanks anyway.
Last edited by North_Raleigh_Guy; 08-05-2008 at 09:38 PM..
Sure would stink to be on the hook to pay an hourly rate then when I don't even go through with a purchase!
You just explained why the hourly pay for a Realtor wouldn't be too high. Why do I want to subsidize the work they do for no money for other people. That is what you are doing when you do commission based pay. The hourly pay wouldn't be too high either, what exactly do you need to become a Realtor? A car? A clip board? The mechanic has hundreds of thousands in equipment, rent etc etc (not to mention more skill....) As someone else said its pineapples to papayas. If the Realtor worked for $30/hour, based on your commission they would've worked a total of 110 hours. Did they really spend almost 3 weeks full time selling your house? I doubt it. You merely subsidized the work they did for other people that didn't result in any $$$.
Regardless, Realtor will have to change the way they do business if they want to compete in the modern world.
You just explained why the hourly pay for a Realtor wouldn't be too high. Why do I want to subsidize the work they do for no money for other people. That is what you are doing when you do commission based pay. The hourly pay wouldn't be too high either, what exactly do you need to become a Realtor? A car? A clip board? The mechanic has hundreds of thousands in equipment, rent etc etc (not to mention more skill....) As someone else said its pineapples to papayas. If the Realtor worked for $30/hour, based on your commission they would've worked a total of 110 hours. Did they really spend almost 3 weeks full time selling your house? I doubt it. You merely subsidized the work they did for other people that didn't result in any $$$.
Regardless, Realtor will have to change the way they do business if they want to compete in the modern world.
Nonsense. If the Realtors where going to get hit by the internet they would have been...ain't gonna happen. Simple fantasy. The task is not suited to the internet though much of its inter workings are. I continue to be amazed by the inabiilty of RE folk to use the capabilities. Never has IT been done so badly.
I am easily worth 100 an hour and cheap at the price. If you are wise you will not have me showing you homes...but I will have someone do that for $50 an hour. If you want the Admiral it is $100. She will never work for less than I. But if you know it all yourself you don't need her so my light weight will suffice.
And I get to bill whether you buy or not. Keep it reasonable. I do exactly what I said I will do and with considerable skill. I am also efficient and will provide a decision making product that will make your decision much easier.
Ohh you just decided that you really did not want a two story and it has to be a one story...well that is $2600 worth of analysis and showings out the door. Of course you are right...that is why we showed you both. But you are prepared to pay for the work done right?
Well the village is too far out? Yes...that is what we suggested before we showed it to you. $1800 billing.
It would change the nature of the business. But count on the fact it will not save the buyer/seller any money....unless it makes the industry more efficient. But the brokers will see to it that does not happen.
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. I don't think my realtor or his broker should complain after they got more commission, and getting commission for 5 homes within 5 months!!!
