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Old 06-24-2010, 05:28 PM
 
401 posts, read 864,117 times
Reputation: 330

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Quote:
Originally Posted by MikeJaquish View Post
Rudy,
You used a local guy to buy, but not to sell?
Why didn't you use an out-of-town guy to buy? Because the local guys get it done, and had the visibility.

I'm not saying you are right or wrong, or that the locals are right or wrong. I'm just saying there may be some local dynamic that you are trying to buck, and you may be paying the price.

Is a anyone selling anything there right now?
I know seems rather stupid logic...my objective was to test the market and see if I would even get any lowball offers...that did not happen. My fear with asking a local broker was that I could not afford to get lean and mean if need be price wise and pay $19000.00 in commission. Additionally I did not select my friend as I love her but I do not agree with her work style..she is not real aggressive. Plus she told me that with her low tenure, she would have to pay for alot of the marketing of our home and could not afford to have all the pictures on the internet I wanted. So I sought out and found an out of area internet based broker to list with and I have alot of internet and local MLS coverage. So hind site being 20/20...I guess I may be getting what I paid for only...I have decided to drop the price $10,000, add.5% to my commission and maybe list my ad on some military sites if it doesn't go against anything in my current contract with my broker. Thanks so much for all your information...If we get sold...I will hire a great agent in Vegas and sit back and let someone work for me.
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Old 06-28-2010, 12:38 AM
 
Location: WNY
1,049 posts, read 3,717,220 times
Reputation: 274
Quote:
Originally Posted by Brandon Hoffman View Post
I see this question a lot. Brokers don't "blackball" a home because it was listed with someone else. they want to a sale any way they can get it, not to mention buyers will find it if they are looking for something like yours and ask to see it. I suspect your problem is something different with only 1 showing, I'd bet my bottom dollar you need to reduce your price. Also, most of the time it's actually neighbors or town ordinance officers that remove signs.

Forget the bonus and reduce the price more instead.
do you really believe that all brokers are honest like this? I do not at all. I will go after fsbo's if I think its something my buyer will like and ask if they will pay a buyers agent - most agents around her wont do that unless they get the entire listing.

I remember a long time ago when I was selling my home myself and offering a buyers agent commission, all those agent calls coming in telling me that they could sell my house, (if i listed it with them) I remember specifically saying, then sell it, and I will pay you - they proceeded to tell me that they stick together and it's about working together as realtors and helping each other - to which I replied, gee I thought it was all about feeding your family and hung up. I vowed if I ever did real estate, I would NEVER think like that - my clients always come first ......
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Old 06-29-2010, 11:13 AM
 
Location: Barrington
63,948 posts, read 44,105,395 times
Reputation: 20647
Most agents want to find the best house for their clients. It makes no difference if the place is listed with a flat fee guy.

Having said this, many sellers who choose to use flat fee guys are not availabel to show their own property when a buyer wants to see it.

Many of such sellers are still of the mind set that what they need or want out of a sale matters to anyone other than them. Sellers who use flat fee agents tend to not be aware of their current market conditions which can change by the day.

As for true unrepresented FSBO, most agents don't know about these listings. Heck, most buyers don't know about them, either.
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Old 07-10-2010, 04:33 PM
 
401 posts, read 864,117 times
Reputation: 330
Default The Bonus Question..Not feeling the Love!

Quote:
Originally Posted by middle-aged mom View Post
Most agents want to find the best house for their clients. It makes no difference if the place is listed with a flat fee guy.

Having said this, many sellers who choose to use flat fee guys are not availabel to show their own property when a buyer wants to see it.

Many of such sellers are still of the mind set that what they need or want out of a sale matters to anyone other than them. Sellers who use flat fee agents tend to not be aware of their current market conditions which can change by the day.

As for true unrepresented FSBO, most agents don't know about these listings. Heck, most buyers don't know about them, either.
As stated earlier we just reduced down to bare bones and may be in our pockets to pay a 3% buyers commission. The good news is that we do not have to sell! I guess RE Agents have their own prospective on FSBO's or flat fee listers just like we FSBO sellers/or broker assisted have our views as to why we choose this route to begin with. As for not being available to show our property, no problem as my husband is always home. As for not knowing what is going on daily with the market is a reach as obvisiously alot of agents do not realize the value of basic competitve internet marketing just rely on their somewhat limited business social circles for a 6% commission, very obivious around here. In this market since we homeowners need to slice down past our equity levels to sell in some cases...I certainly do not understand why alot of brokers are stead fast about justifying their 6%. The bottom line is 3% commission to a buyers agent is ethically appropriate wages. Home buyers are beat enough with buying at the top of the fake market, selling for a equity loss position and expected to pay and extra 3% commission for someone's office expenses, marginal advertising and minimal communication. We have gone the route of a full service agency in the past and probably over 70% of the lookers with agents were just that, some stated they did not realize our house was just a 3/2 or 2 car garage...why waste our time...anyway. In closing, I know there are some great agents out there and times are tough but this good ole dinosar mentality will play out soon enough as the glut of still over priced properties to cover unrealistic commissions to sell will continue to be setting quietly growing cobb webs.
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Old 07-10-2010, 07:16 PM
 
Location: Just south of Denver since 1989
11,688 posts, read 32,865,747 times
Reputation: 8639
I choose to work with fabulous people who want a partnership.

They choose me for my knowledge, integrity and experience.

I can't promise everything will be easy or smooth. But I will give it my very best.

Buyer's have so many houses to choose from. Why yours?
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Old 07-11-2010, 01:16 AM
 
Location: Columbia, SC
10,642 posts, read 20,774,775 times
Reputation: 9932
Quote:
Originally Posted by Rudydog1 View Post
I certainly do not understand why alot of brokers are stead fast about justifying their 6%. The bottom line is 3% commission to a buyers agent is ethically appropriate wages. Home buyers are beat enough with buying at the top of the fake market, selling for a equity loss position and expected to pay and extra 3% commission for someone's office expenses, marginal advertising and minimal communication. We have gone the route of a full service agency in the past and probably over 70% of the lookers with agents were just that, some stated they did not realize our house was just a 3/2 or 2 car garage...why waste our time...anyway. In closing, I know there are some great agents out there and times are tough but this good ole dinosar mentality will play out soon enough as the glut of still over priced properties to cover unrealistic commissions to sell will continue to be setting quietly growing cobb webs.
Your post was difficult to read to be honest, but I think you're complaining that a 6% commission is too high. It's about the legal risk we take on as well as marketing, negotiating, and closing the home. It's also about the risk the home doesn't sell. You realize the agent only gets paid if it sells, right?

Lastly, agents didn't charge more money when sellers were making money hand over fist a few years ago. Why do you expect them to make less now that the owner is making less? Our risk is not reduced. Our time involved is actually increased. Our expenses are actually greater.
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Old 07-14-2010, 11:13 AM
 
Location: Olympia
1,022 posts, read 3,987,149 times
Reputation: 844
Most buyers are online looking at homes way before they even work with an agent. If the home is priced right, staged and photographed well, and can be found easily online (MLS,Realtor.com, Trulia, Zillow, etc) the buyers will find it and will want to see it. As long as the commission is on par with what's customary in the area, don't add an agent bonus. This implies that agents steer their buyers. Either invest the money in staging, professional photography, or offer a buyer bonus.
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Old 07-14-2010, 07:52 PM
 
Location: Old Forge, NY
75 posts, read 163,927 times
Reputation: 64
Here's a question for ya- is there something that makes showing your house difficult? for example, who has the keys to your property? Unless they are on the same type of electronic lock box as the local agents use - you might not be getting showings because showing your house is a royal pain. Do agents have to drive somewhere far away to get the keys? With this agency you are listed with- who answers the phone for the number listed on your sign? Is it an automated system or an answering machine? If it is , agents don't have time for that. Are you using a flat Fee MLS that offers 3% to buyers agents? Agents hate flat fee MLS's they end up doing twice the work for the same 1.5% percent commission (half of your 3% usually goes to the office). What is the story with this company you listed with?
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Old 07-15-2010, 01:00 PM
 
Location: East Tennessee
3,928 posts, read 11,149,489 times
Reputation: 5254
I know my thinking is quite quirky but when I see those bonus offerings (builders are the worst), I disclose to my buyer clients immediately that there's room for negotiation. I've never felt good about accepting spiffs anyway.

Thinking about this a little further, a recent buyer wanted to put an offer in on a house and he wanted closing cost assistance. I reduced the 1% buyer agent bonus offering and requested the closing cost assistance. That 1% reduction in broker fees created a higher net to the seller and the buyer's offer was accepted because of it.
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Old 07-26-2010, 12:20 AM
 
Location: Valparaiso, IN
63 posts, read 188,736 times
Reputation: 35
Quote:
Agents hate flat fee MLS's they end up doing twice the work for the same 1.5% percent commission (half of your 3% usually goes to the office). What is the story with this company you listed with?
Your right when an agent shows a flat fee home guess who gets to do all the work to get it to closing? I just closed one that ran into a few bumps and not only was I dealing with my buyers but also the home owner because i am the only one that can answer their questions. Yup then 1.5% goes to me and the other half to the office. Sometime they you get what you pay for and a good agent which you should to interview and know right off the bat whether they are a good agent or not. Instead of just the dinosaur questions ask the right questions do you blog, what is YOUR not your companies website address, do you have a facebook account and what do you know about craigslist. Really I know you don't care if they have a blog or a facebook account but this will give you insight as to whether or not they are internet friendly. With 87% of all people finding their home on the internet the best bang you can get for your buck is an internet friendly agent.
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