Florida, why not? Sister in Law opted not (Naples: homeowners insurance, credit card)

[skylinet]

On the other hand, real estate agents make tons of money (if not more) for basically running around town and chatting you up while you see the property, they need no education and have almost no legal responsibility. Why this is allowed to happen is beyond me. You can try to put any spin on it you want (great agent will point out this and that, they will send you what they think matches your taste or interest) but the fact remains - they essentially do nothing and get paid handsome commissions.

Every agent has to be licensed in order to collect a commission, they have to pass a state licensed exam, have to go through a months of schooling, and have continuing education every couple years. It's not years of schooling like a lawyer, but they have to be educated in order to become an agent. There's also thousands of licensing fees, associations a realtor has to be a part of, and other dues.

You seem to think all agents are millionaires, when in reality the average agent in Florida makes closer to $20k a year. Most people fail at it within the first year and if you're not a realtor you have no clue what goes into it.

What is a realtor supposed to do, buy you a new home because you don't like the one you are in? Did they force you to buy that home? Did they force you to use them?

A realtor is accountable for everything they do, and if they do screw up or mislead you they can lose their license and/or be sued.

I never got why people that have a chip on their shoulder think that all people in a profession are bad for what they do.

[bocamom]

fwiw, i went to school for one week, not months. but it was full time school for a week. the test was easy for me and the company I went to work for put up most of the money for my required memberships (based on my community contacts). i wouldn't compare that to the work it took to get any of my university degrees. my intention isn't to minimize it, but having done it, i do have some perspective in what it requires.

[ognend]

Originally Posted by skylinet

Every agent has to be licensed in order to collect a commission, they have to pass a state licensed exam, have to go through a months of schooling, and have continuing education every couple years. It's not years of schooling like a lawyer, but they have to be educated in order to become an agent. There's also thousands of licensing fees, associations a realtor has to be a part of, and other dues.

You seem to think all agents are millionaires, when in reality the average agent in Florida makes closer to $20k a year. Most people fail at it within the first year and if you're not a realtor you have no clue what goes into it.

What is a realtor supposed to do, buy you a new home because you don't like the one you are in? Did they force you to buy that home? Did they force you to use them?

A realtor is accountable for everything they do, and if they do screw up or mislead you they can lose their license and/or be sued.

I never got why people that have a chip on their shoulder think that all people in a profession are bad for what they do.

Please - a month of school? Hah! Come on now, are we supposed to feel bad about that (and the attorneys and doctors and vets should feel lucky about their requirements)?

The realtor is not supposed to buy me a new house - that's silly. However, they are also not supposed to be making 6% on a $500,000 sale - that's about $20,000+ PER JOB! For what, really?!

I had a surgery a few years back that took about 30 min (nothing serious). The surgeon got $1,000 and the anesthesiologist got $700 (the rest of the $22,000 bill went to the hospital but that's another discussion). My point is that my life was in these guys' hands and they made $1700 combined - way less than a realtor makes per job! I am sure they do a few surgeries a day but we are still talking (human) life here.

Some years ago I bought a home in Missouri, small town, maybe 50-80,000 people. It turned out the seller was a real-estate agent and my agent was their friend. When I found out it was too late, long story short it was a rough deal. Not to mention that I saw where my realtor lived - it was a $500,000 home in a town where median home price was about $150,000.

Some time ago I was looking to buy some property in Tennessee. I got to working with a realtor and to her credit, she was amazing. But (!) she understood my experience and relayed to me that before becoming a realtor she too was played by her realtor who essentially sold her a property her agent owned - this property turned out to be a lemon. My realtor in TN was also willing to cut her commission so that I could buy the piece of land I was interested in. I will admit, there are some honest people out there but I doubt they are the majority.

I can go on and on, there are small towns not far from here where two or three realtors own most of the lots/land for sale. I am sure this is not the case in Boca or WPB or Wellington but then it is a bigger pie and more people want to dip their hands into it.

I am not sure about the statistics of how much re agents earn. I am an average person who dealt with some agents and all of them had beautiful expensive homes and nice cars. Even my agent here in PBC has a house in PB Gardens, not far from the intracoastal worth about $1 million, pool and all.

My $0.02.

[bocamom]

Well, the realtor I tried working with this time was not rich, at least not on the surface. She was renting a nice apartment about the same price range I am in and drove a ten year old toyota in Boca. Things are tough all over.

I liked her, but she disapproved of me looking at a property without her. I had already been in contact with the agent about said property before I met her and felt that since she hadn't found it or been involved that that was normal but she was upset with me because i did not feel that working with her on other properties meant I had an implied loyalty clause in all my real estate matters. So that made it too uncomfortable to work with her at all. I don't want to feel guilty for doing my own legwork on the side.

It seems like many agents drive nice cars because it represents well and is comfortable for clients, I imagine plenty of them are really sweating the $800 car payments now

[faithfulFrank]

Folks,

Please stick to the original topic. I will not let this thread degrade into a Realtor bashing thread. The Realtors here should not feel that they need to defend themselves, any more then any of us need to defend our vocations.

Yes, I've met very good and very bad Realtors. Actually, I think in almost every profession I know, I have met good and bad examples. Life 101.

This is a free country, and no one forces anyone to buy or sell....ultimately we ourselves are responsible for the real estate deals we make, and most foolish or bad deals are made by foolish people.

I've used Realtors before, and I've sold a few homes myself as a FSBO. When I could not find the home I wanted, I designed and built my own home. It pays to know home construction, and how to buy and sell right. A knowledgeable consumer is usually the most satisfied.

Frank

[pottymouthgranny]

If you move to Florida RENT. It is risky to own your home. If you do want to purchase a home then be advised that homes in Florda are often build poorly. Many Florida contractors have very poor standards and take absolutely no pride in their work.

BEWARE OF BUILDING A NEW HOME IN THE STATE OF FLORIDA. THE CONTRACTORS ARE OFTEN EX-CONS!

SCAMS ARE A HUGE PROBLEM!

[rainroosty]

I found the original post to be most offensive. If you came here and hated it so much, fine. What are you accomplishing by coming here and insulting where we live? Free crack and jail extensions? (!!!)...and more insults on top of that?!!!
You're not a very nice guest to have visit, I'll say that much.

[brinked]

buying a house is a major commitment. You cant depend only on a real estate agent for advice on finding a home. You need to do your own research and talk with other people and then discuss what you have learned about with a realtor who is familiar with that area. You are a fool if you buy a house solely because a realtor says you should. You should only hire a realtor when you have a pretty good idea about what you want, otherwise you might just get persuaded into getting something you really do not want.

[Damemeow]

How can you complain about property taxes....I mean really---- WE HAVE NO STATE INCOME TAX.

[800acess]

Originally Posted by WilliamHarman

I just got back from a few weeks in Florida (down your way) with my sister in law to look for a home. After lots of looking, she has decided against it. The reasons listed below are why.

1. Property taxes on a average loveable home exceeded $5000 per year on most homes. That is ridiculous! How do you fine people do it?

2. Insurance on the same home would run $2300-$3300 per year. And this is not with a major company either. Most of those offering coverage would go belly up if a major storm came through into the biliions. For those of you with equity in your homes, this is something you may wish to review. Most insurance companies still providing coverage in S. Florida are weak at best.

3. We mostly looked in Wellington and were amazed at the contrast. In many of the subdivisions, the developers placed multiple family units, basically extensions of a maximum security prison, early release plan, in the same areas, or across from nice plush homes. Were the locals passing out free crack cocaine when they did this? It makes no sense. You turn the corner "run for your life." I see many neighborhoods in Wellington going under the way of ghetto life very soon. Some of the town home complexes and apartments were so bad they looked like something from 3rd world counties.

4. The overall sentiment of the area was depressing. You can feel and sense the sad struggles and deteriorating conditions there. Beautiful homes sitting to rot, while others try their best to save their pride and keep their homes nice.

5. It was also evident that many of the homes had multiple families living in them, likely due to the economic situation. Some had 10-15 kids, with cars lined up and down the street, all packed into a single home. Buy a home next to one of these and your life is bound to be interesting.

6. Out in the country, wow. Homes rotting right before your eyes. We visited many homes were things were left to implode, while families were literally camped out trying to survive until the home sold. Very sad. We visited one home that never got finished, but was beautiful and two "lock smiths" who claimed to be fixing the lock on their door, had a truck full of building materials they likely were stealing from the 75% built home as we drive up. They got super angry and stormed off.

All in all, Florida in my opinion is going to be in tough shape for many years. No quick turn around there.

If you're thinking of moving that way, figure in $800-$1000 per month in reserves for taxes and insurance for a decent home. Sorry, but that is just un American in my opinion.

William

Congratulations in your decision. I'm trying to say the same thing and I DO live in Wellington. Property taxes are crazy. Everytime government needs money they raise property taxes. I bought my house a long time ago and my taxes are 5k a year, probably more in 2009.
EMS alone is $700 and if I need a ambulance ride to a hospital is another $650. Choose a nice Georgia or N Carolina city and you will spend less than half for much more. If you want to go to the beach come for a week.
You will be sick of the rude people and leave on the third day.
If you have any question I will be happy to answer properly. I'm not a realtor.