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How many times have you told your client that the commission is negotiable, my guess, none.
What do you do for a living? If it involves sales of any kind, do you tell clients that they can buy the product for less money and therefore cut your profit margin?
If you have a quote to redo a kitchen, does the contractor say, "$20K, but it is negotiable," or do you say "I have a quote for $17K, if you can match it, you have the job."
If you sell televisions do you say "the Sony is $1250, but make me an offer?"
Realtors are away from their families on weekends and evenings... they show houses on Christmas Eve and in the rain and snow. They attend education classes, office meetings, training sessions, do open houses, send out mailings, make cold calls, pay for memberships and more.... but most of all, they help buyers and sellers with the largest business transaction of their lives.
What do you think is fair?
Last edited by AndrewMensch; 11-13-2008 at 07:17 PM..
puleez. A dentist has to go to med school for 8 years....A realtor.....doesn't need ANY degree. All they do is take an exam!
A realtor doesn't do much of anything!! My realtor bitched because she had to spend a few hundred on marketing our house in a real estate mag to which she played stupid and didn't know which ones were out there lol rofl! They do not deserve their commission at all! way way overpriced!
My realtor didn't even know she could put a house on Craigslist! I told her and then has the nerve to "UPDATE" ALL her clients with news that she is putting their homes on craigslist after I specifically told her about it (and did it myself-just minutes before!) LOL rofl. Yea, they deserve the 25k--NOT!
Like any profession, the good ones make a lot of money, the lesser ones don't. Looks like you hired the wrong one. How did you choose him/her over the others?
Funny how all the agents believe that it's common knowledge. I'll ask you the same question, when you meet with a client for the first time to you tell them your commission is negotiable?
puleez. A dentist has to go to med school for 8 years....A realtor.....doesn't need ANY degree. All they do is take an exam!
A realtor doesn't do much of anything!! My realtor bitched because she had to spend a few hundred on marketing our house in a real estate mag to which she played stupid and didn't know which ones were out there lol rofl! They do not deserve their commission at all! way way overpriced!
My realtor didn't even know she could put a house on Craigslist! I told her and then has the nerve to "UPDATE" ALL her clients with news that she is putting their homes on craigslist after I specifically told her about it (and did it myself-just minutes before!) LOL rofl. Yea, they deserve the 25k--NOT!
Then you should have hired a good Realtor. If people would stop hiring bad Realtors they would leave the business and we'd all be better off. Why did you hire someone so incompetent?
Not a broker, or a Realtor here. And I will admit to not reading the entire thread either, just the opening pissy question and the first page, and last page.
As recent buyers we used a buyers agent when we made our purchase. We were moving to an area that was 1500 miles away from where we were living and I would have gladly given our agent 10% of the cost for the work she did in order to make the whole process easy for us during a very stressful time. Our time frame was very short and trying to find a home so far away from where we were living and working was difficult to say the least. Many conversations over the phone and dozens of e-mails were made before we ever met face to face. We took a week and off work and knew we had just a couple of days to look at properties. She took the list we sent her of places we were interested and went to them before we got there, and arranged them in the order of what she thought fit our needs most to least so that our limited time was maximized when we got into town. She added in several that were new on the market, and one that came on the market while we were on the road. 3rd place we looked at was the one, no doubt. She knew the area, the sales that had taken place and had looked at the most recent sales and the individual houses so she knew exactly what the market was doing up to the minute so we wouldn't waste our precious little time on offers that didn't have a chance. We talked in the family room of the house we all (me, wife, and all 4 kids) liked and wanted. Our Realtor told us exactly how long it had been on the market, and what she would think the buyers would go for and what the house would actually sell for. Made the offer, had the counter-offer within 6 hours and it was within literally a few dollars of what she had told us it would be. Agreed on a price and conditions, and was back on the road to get back to jobs within 2 days of arriving. She did all the leg work, the worrying, the talking us through items we were about ready to give up on the process and just rent when we got there and could deal with buying a place in person. When a trivial item came up in inspection (small area of paint peeling on the garage) she is the one who bought the paint and spent her Memorial day week-end painting that end of the garage because we were in Maine and the home owners were out of state as well, so the inspector would pull his head out and give everything the OK. Our Realtor is the one who sat down with all parties involved and made damn sure everything was in order BEFORE it went to closing and hit a minor snag. She is the one who took in our paperwork to the closing, because we were 1200 miles away, and already 6 hours into the trip to our new hometown. We left not having the closing done, and still not 100% sure where we were going to pull into with the moving truck and kids when we made it there. She is the one who as soon as the closing was done, came and changed the name on the mail box for us, so it "would really be Home" when we pulled into the drive. She is the one who made sure the house was ready for us to get there. Our Realtor is the one who came in and made a quick pass with a dust mop and vacuum so we wouldn't have to the minute we came home. She is the one who actually cried, when she handed us the keys and paperwork to our house when we pulled in. She called just before going into the closing and the minute everything was final. She was on the cell phone the minute she had keys in hand.
Through the whole process our Realtor was the one making sure everything went perfect for us and deflected the minor annoyances so we wouldn't have to sweat the small stuff. The one who worked week-ends and holidays for the house we wanted to become our home.
5%, worth every single penny. She may earn more than a lot of average people out there, but she earns every single penny of the commissions she gets because of her knowledge of how real estate transactions take place and the ability to help people find a home that suits them with the least amount of headache, and heartache to them. And no, it isn't a 1/2 million dollar house, it is very modest and she didn't make that much really. If this is the level of service she gives for a house in my price range, I can just imagine what kind of service she gives for a really large sale. If I had the money I would have given her FAR more than the going rate, because she made the whole process a breeze, despite a very tight schedule.
Then you should have hired a good Realtor. If people would stop hiring bad Realtors they would leave the business and we'd all be better off. Why did you hire someone so incompetent?
Funny how it's never the agent's fault, even when it's the agent's fault.
Not a broker, or a Realtor here. And I will admit to not reading the entire thread either, just the opening pissy question and the first page, and last page.
As recent buyers we used a buyers agent when we made our purchase. We were moving to an area that was 1500 miles away from where we were living and I would have gladly given our agent 10% of the cost for the work she did in order to make the whole process easy for us during a very stressful time. Our time frame was very short and trying to find a home so far away from where we were living and working was difficult to say the least. Many conversations over the phone and dozens of e-mails were made before we ever met face to face. We took a week and off work and knew we had just a couple of days to look at properties. She took the list we sent her of places we were interested and went to them before we got there, and arranged them in the order of what she thought fit our needs most to least so that our limited time was maximized when we got into town. She added in several that were new on the market, and one that came on the market while we were on the road. 3rd place we looked at was the one, no doubt. She knew the area, the sales that had taken place and had looked at the most recent sales and the individual houses so she knew exactly what the market was doing up to the minute so we wouldn't waste our precious little time on offers that didn't have a chance. We talked in the family room of the house we all (me, wife, and all 4 kids) liked and wanted. Our Realtor told us exactly how long it had been on the market, and what she would think the buyers would go for and what the house would actually sell for. Made the offer, had the counter-offer within 6 hours and it was within literally a few dollars of what she had told us it would be. Agreed on a price and conditions, and was back on the road to get back to jobs within 2 days of arriving. She did all the leg work, the worrying, the talking us through items we were about ready to give up on the process and just rent when we got there and could deal with buying a place in person. When a trivial item came up in inspection (small area of paint peeling on the garage) she is the one who bought the paint and spent her Memorial day week-end painting that end of the garage because we were in Maine and the home owners were out of state as well, so the inspector would pull his head out and give everything the OK. Our Realtor is the one who sat down with all parties involved and made damn sure everything was in order BEFORE it went to closing and hit a minor snag. She is the one who took in our paperwork to the closing, because we were 1200 miles away, and already 6 hours into the trip to our new hometown. We left not having the closing done, and still not 100% sure where we were going to pull into with the moving truck and kids when we made it there. She is the one who as soon as the closing was done, came and changed the name on the mail box for us, so it "would really be Home" when we pulled into the drive. She is the one who made sure the house was ready for us to get there. Our Realtor is the one who came in and made a quick pass with a dust mop and vacuum so we wouldn't have to the minute we came home. She is the one who actually cried, when she handed us the keys and paperwork to our house when we pulled in. She called just before going into the closing and the minute everything was final. She was on the cell phone the minute she had keys in hand.
Through the whole process our Realtor was the one making sure everything went perfect for us and deflected the minor annoyances so we wouldn't have to sweat the small stuff. The one who worked week-ends and holidays for the house we wanted to become our home.
5%, worth every single penny. She may earn more than a lot of average people out there, but she earns every single penny of the commissions she gets because of her knowledge of how real estate transactions take place and the ability to help people find a home that suits them with the least amount of headache, and heartache to them. And no, it isn't a 1/2 million dollar house, it is very modest and she didn't make that much really. If this is the level of service she gives for a house in my price range, I can just imagine what kind of service she gives for a really large sale. If I had the money I would have given her FAR more than the going rate, because she made the whole process a breeze, despite a very tight schedule.
Didn't read your post, only your tag. But did glance at your post. It's not only the trolls that hate you but also anyone who appreciates appropriate paragraph construction.
Funny how it's never the agent's fault, even when it's the agent's fault.
Nobody said it was not the Realtor's fault. Like any profession, some are better then others, and if you are paying 5 or 6%, why not have the best? It does not cost any more money.
I am always interested in how people decide which Realtor to use....
So many choose "the guy down the street, I've known him for years" or "my sister's friend who just started in the business."
This is the LARGEST PURCHASE/SALE of your LIFE, folks.
If you needed surgery, would you hire the neighbor's kid who just got out of med school, or the Chief of Surgery at a well known hospital?
If you were being sued, would you call your cousin's friend or the best in the business to defend you?
If you were being audited by the IRS.... well you get the idea.
The Realtor you hire should know the Internet, have training in real estate, and should be able to prove that he/she has actually sold homes... regardless of whether you are on the buying or selling end.
Professional Realtors are worth that they charge and more... IF they are PROFESSIONALS!!!
Unfortunately, as this thread exemplifies, there are plenty of unprofessional ones out there. Buyer beware.
Same as any profession. Attorneys, accountants, contractors, Wal-Mart greeters. It's up to the employer to make a good hire.
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