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Granted this is not his main source of income. He has a very well-paying job in the IT sector, and does this because he likes meeting people and enjoys the real estate side - so he got his realtor license and is doing this on the side.
We are building a new house, and he sold our old house as well. Charged a commission of 1% - very doable. He had told us about a rebate he would give back to us, but I had forgotten about it. Well, today he emailed to let us know how we would like the money credited to us - taken off from the closing costs OR taken off the base price of the final purchase price. Apparently it is rare, but the builder will let us decide how we want the rebate taken off. He is giving us 1.25% back, which comes up to about 4K. He did not have to do this - the last time we had built our house, the realtor had given us two really ugly mugs...
Kudos to him
Part timer that doesn't depend on the income. Could be a smart guy that knows his job well and just doesn't are to do it full time. Could be someone who isn't all that good but no problems popped so the consumer mistook a good transaction to mean a good Realtor. Could be somewhere in between and that's my guess.
At any rate, kudos on the good experience to the OP. I hope that many more share that experience but it's become tougher to get them there. Not all agents are the same and I encourage consumers to interview wisely.
He can afford to give his money away. As the OP implied, he has a "real job" in the IT sector. Instead of giving rebates, he should be saving that money incase he gets sued. Part-time agents are far more likely to screw things up than full-time agents.
Quote:
Originally Posted by AONE
How does he charge 1% and give back 1.25% sounds like a recipe to go broke.
His percentage was actually 2.5% that he got from our builder, so he shared that with us. And, then, when we sold our house, he charged us 1% commission...so earned about 9K from us combined.
Great experience while negotiating for the new house. He knew what to ask for, how much to push, got us a great deal with upgrades/incentives ( this experience was VERY different than when we had build our first house) ...selling our house - he did an ok job. Our house sold in 8 weeks, we had multiple offers...but I think that was mostly because of the condition of the house and the work we did to get it ready to show.
Not sure about the "going broke" comment - he is in the IT sector in a high level position - very secure...so this is something he does on the side.
Anyway, just wanted to share this with everyone here. Don't want anyone to get defensive OR try to point our negative things here...
I think what some of my fellow agents are trying to say is a full time expert/elite Realtor is ALWAYS better than any part timer. Most consumers judge the Realtor by the transaction and that doesn't always show the actual skill level.
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