Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not sure what being a Property Broker , has to do with my posts , they have been mostly reflective of personal experiences over the years , and , as of late.
I got my License in 1981 , one of the few early on holders after deregulation. I was very active on the national scene as well. Served on arbitration board , and several national association posts, for many years. Had a very active Brokerage, serving a niche market.Many of my customers were fortune 500 companies. I rarely had contact with the retail public. I could write a book about it. I do have several , all out of print now. I had a monthly newsletter , as well.
Retired now, mostly tired , trying to write my memoir , and , build a cabin in the north woods, far from the madding crowd.....
"I rarely had contact with the retail public."
A-a-hhh. Full disclosure at last. Detachment from the daily grind.
I have contact with the retail public daily, 7 days a week.
I think contact improves my knowledge of the market and what people want. I think that contact encourages me greatly to improve my skills and knowledge.
When I toss bombs, it is from the front, not the safe haven at the rear.
A-a-hhh. Full disclosure at last. Detachment from the daily grind.
I have contact with the retail public daily, 7 days a week.
I think contact improves my knowledge of the market and what people want. I think that contact encourages me greatly to improve my skills and knowledge.
When I toss bombs, it is from the front, not the safe haven at the rear.
So simple , I am glad you have finally figured out what has been bothering you.
I have showed my house one hundred times more fsbo than using a realotor the fact is in this housing market buyers know that if you are using a realtor they are going to pay another 20k and up plain and simple now i still wasnt able to sell fsbo but i went back to a realtor and its a ghost town fsbo is the way to go they scrounge the streets looking for fsbo signs. When you go with a realtor you get ripped off they get ripped off and the realtor does little if any work. except waiting by the phone and they dont even answer the phone any more and are late to calls for house viewings. Realtors should be removed from the sellling process then you wouldnt need a lawyer because you wouldnt be getting reemed up the you know what for your hard earned dollar. Passing your real exam doesnt give reason for the huge commissions you get and if you were working at much lower % prices of houses wouldnt have gotten so inflated by the time a loan closes title escrow real fees you owe another 50k on a average house its all a scam do it yourself and save the money stop letting thems scare tactic you into spending more which is the way america works better get a lawyer or your doomed when the lawyer is what dooms you in the first place make sure you loan is done right and that you get an inspection for your house which you hire electircal pest roof so on a realtor will add more $ to use there guy you can find one cheaper and unbiased. If anyone uses fear to intimidate you to a certain way of doing biz theres a reason they want your money! Realtors are a joke. Get real jobs. Everyones a realtor my uncle bob. cousin sue so on. You put 50 down payment and they basically suck that right up. Houses should sell for a flat fee no more no less no matter the cost its a transaction why should you be entitled to 1000000 commission on a million dollar home did you build it no. Did you work hard to sell it. No You type a description shorter than this blog and show it a couple times not knowing crap about it if the people like it they buy it. You should be ashamed of yourself you realtors are directly part of the housing problems inflated values because of your fees. And now you are paying for your greed. Good . I hope you all go under and out of biz and suffer. And they do conspir against fsbo I had a group here looking at my house and there realtor was telling them they had to go to look at other houses this after the couple was asking questions of interest about the house the realtor clearly did not want them to buy this particular house and probably wanted to push there own listing to collect the full 6% commission instead of 3%. They are crooks.
I am a Realtor. Sounds like as easy as it is and as overpaid as we are, you should be getting your license tomorrow and driving a Porche a week later. Seriously, our job has to be easier than what you are doing now right?
We listed our home on the MLS here in northwest Oregon three months ago. It only cost us $200 and automatically went out to many other web sites. Examples include, Realtor.com, Realestate.com, Zillow, Redfin.com., etc.
The listing includes our Buyers Agent Courtesy of 2%. I know, some of you are going to jump all over me for the 2%. However, that's 5K if an agent brings a buyer. We haven't had one agent stop by, call or email us. You might think that they would make an initial contact to ask if we were firm on the courtesy fee, which we would be if asked! They know (or should know) that when you compile the sale data for the MLS, the form (online or otherwise) leaves the seller precious little room in the fields to make notations, exceptions, etc. Thus, I'm left with the choice I made, which is 2%. Are we not supposed to start low, negotiate to the middle and agree on something in between?
Why would I want to start high (i.e. 3%) and leave myself no room?!!
When I wrote one realtor who practices out my way, she said she doesn't like to show FSBOs because they are often "complex and unorganized." Yep! That's what he said. I wrote back and stated that we intend to use a title company and/or attorney to make it go smoothly. I never heard from him again. What about their clients who might be looking for a nice acreage property like ours? Are they simply not being informed about FSBOs?
This will **** some of you realtors off: Are telling me that some homes are just too complex and unorganized to close on and that you don't really want to work that hard? The answer is somewhere in between.
Factor this: Homes in rural Oregon are not experiencing the appreciation in value like we see in major metropolitan areas (e.g. Portland). Realtors in rural areas compete among themselves for very few listings over a wide geographical area. Here we are with interest rates moving upward, few homes on the rural market and school about to start. Yet, realtors out my way, don't seem interested in making 5k simply because they may have to deal with the FSBO seller.
We know for sure the climate of selling and loaning big bucks has passed. Are realtors spoiled from the go-go years (i.e. 90s through 2007) when money was loose, prices were skyrocketing and realtors and lenders were making out like bandits??
If so, come down off your high like the rest of us did. The housing market lost a trillion dollars in equity!!! Homeowners' margins are thin. Thus, a 2%- 2.5% commission should be a fine amount as it reflects more accurately the current market!
Times are slow so if your boss came to you and said, " I know you normally make $60,000 but I need you to come down off your high (clue that you are in the PNW you said high and not high horse) and take $40-$50K instead of $60K", what would you say?
Times are slow so if your boss came to you and said, " I know you normally make $60,000 but I need you to come down off your high (clue that you are in the PNW you said high and not high horse) and take $40-$50K instead of $60K", what would you say?
It's a percentage commission anyway. So, if the house is now worth less then the agent will make less essentially creating the "pay cut" the OP is talking about already. So, it sounds like the OP really wants the buyer's agent to take a double pay cut. Now who's the one that's high?
Seriously though, you talk about meeting in the middle so if you're willing to offer 2.5% to a buyer's agent then just do it. No one is going to negotiate with you about commission. Most agents will just assume you're offering what it says and some who don't like it will probably steer their clients to comparable properties offering them a higher commission. I'm not saying every agent does this, but there are definitely some out there.
Buyers agents are providing a real service. Turning your house over to a Realtor for 6-7 percent is often worthless and in the rare event they actually come through , over paid.
I have built 4 houses over the years, I always sold them myself. Yes I hired an agent , but they were mostly worthless. My last house I sold on eBay, just before the market crash. Had I waited one more month for thr Realtor , I would have lost over 100,000 or more. As it was the realtor never called me in six months, I had no guilt in breaking the contract. Yes I did loose some anyway , but I did make it happen. I always use a Title co to close for a fixed fee.
There is a minimum fee I will work for, agreed upon in my buyer broker agreement. I point out when homes or FSBOs offer less and let them know they will have to make up the difference to me. Most the time, it's the buyers that decline to pursue that house.
Working with a FSBO is harder because the seller doesn't usually know what he/she is doing and the buyers agent ends up working harder to make sure everything is done correctly on both sides of the transaction. And for that, you want to offer a reduced commission. Not worth it.
However, I do keep my eyes out for FSBO here. Though there aren't many, I contact the seller if I think it matches what a buyer of mine wants. The biggest issue I have is that most them are way overpriced and the seller doesn't care about the comps. It makes it a giant waste of time.
We listed our home on the MLS here in northwest Oregon three months ago. It only cost us $200 and automatically went out to many other web sites. Examples include, Realtor.com, Realestate.com, Zillow, Redfin.com., etc.
The listing includes our Buyers Agent Courtesy of 2%. I know, some of you are going to jump all over me for the 2%. However, that's 5K if an agent brings a buyer. We haven't had one agent stop by, call or email us. You might think that they would make an initial contact to ask if we were firm on the courtesy fee, which we would be if asked! They know (or should know) that when you compile the sale data for the MLS, the form (online or otherwise) leaves the seller precious little room in the fields to make notations, exceptions, etc. Thus, I'm left with the choice I made, which is 2%. Are we not supposed to start low, negotiate to the middle and agree on something in between?
Why would I want to start high (i.e. 3%) and leave myself no room?!!
When I wrote one realtor who practices out my way, she said she doesn't like to show FSBOs because they are often "complex and unorganized." Yep! That's what he said. I wrote back and stated that we intend to use a title company and/or attorney to make it go smoothly. I never heard from him again. What about their clients who might be looking for a nice acreage property like ours? Are they simply not being informed about FSBOs?
This will **** some of you realtors off: Are telling me that some homes are just too complex and unorganized to close on and that you don't really want to work that hard? The answer is somewhere in between.
Factor this: Homes in rural Oregon are not experiencing the appreciation in value like we see in major metropolitan areas (e.g. Portland). Realtors in rural areas compete among themselves for very few listings over a wide geographical area. Here we are with interest rates moving upward, few homes on the rural market and school about to start. Yet, realtors out my way, don't seem interested in making 5k simply because they may have to deal with the FSBO seller.
We know for sure the climate of selling and loaning big bucks has passed. Are realtors spoiled from the go-go years (i.e. 90s through 2007) when money was loose, prices were skyrocketing and realtors and lenders were making out like bandits??
If so, come down off your high like the rest of us did. The housing market lost a trillion dollars in equity!!! Homeowners' margins are thin. Thus, a 2%- 2.5% commission should be a fine amount as it reflects more accurately the current market!
Whew!
Commissions are generally negotiated during the listing phase. I don't know how it works in Oregon, but you're pretty much bound to the number put in the MLS, unless otherwise stipulated, in California. I don't think most agents would assume that number is negotiable.
I suspect that's not your biggest problem anyway. You may be able to find a local agent who would be willing to consult with you in exchange for a few buyer leads, or if you're planning on buying after selling, your buyers agent might be able to give you a few tips.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
