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We have a beautiful home that has been listed with a realtor. Everyone who walks through the door states that it is priced correctly and is always given a 5--being the highest. It shows like a model home. Winter has been dreadful. Lots of lookers---still early though. If nothing happens in the next month we are thinking of FSBO/Flat fee.....something like that. We are familiar with the comps and feel if we lower the price some, a potential buyer might then make an offer, he would come out on top, we would fare better and a buyer's realtor could collect 3%. The perfect scenario. We know its a win win for all, but just need the traffic to come through the door. Doesn't seem fair to pay a listing agent 3% who does nothing more than list, he does not even show the house.
just dropping in with a quick comment, but please dont think a listing agents job ends with just loading some photos and info into the local listing service.
I could start my own subforum on here of situations that have happened. At that point, whether a person feels a listing agent is worth whatever the amount is, be it 3% or $1400, is beside the point.
We have a beautiful home that has been listed with a realtor. Everyone who walks through the door states that it is priced correctly and is always given a 5--being the highest. It shows like a model home. Winter has been dreadful. Lots of lookers---still early though. If nothing happens in the next month we are thinking of FSBO/Flat fee.....something like that. We are familiar with the comps and feel if we lower the price some, a potential buyer might then make an offer, he would come out on top, we would fare better and a buyer's realtor could collect 3%. The perfect scenario. We know its a win win for all, but just need the traffic to come through the door. Doesn't seem fair to pay a listing agent 3% who does nothing more than list, he does not even show the house.
It isn't the agents job to sell the home, it's to market the home. Ultimately the seller is always responsible for the home selling (or not selling). If you aren't getting offers and the condition is truly a 5 then you need to lower the price.
It isn't the agents job to sell the home, it's to market the home. Ultimately the seller is always responsible for the home selling (or not selling). If you aren't getting offers and the condition is truly a 5 then you need to lower the price.
The agent gets paid for.........selling the home. He doesn't get paid for marketing.... So that's his job.
The "sale" occurs when the seller signs the listing agreement.
The listing agent's job is to educate, market and negotiate.
This point of argument is just the agent trying to avoid any accountability for an outcome. Like I said, when does the agent get paid, he gets paid when the house is sold. If he's not getting paid by the hour and "consulting" then his job is to sell the house without any question.
When talking about paid work, your job is what you get paid for and selling the house is when you get paid. "educating, marketing and negotiating" are just tools to get the job done.
If the listing agent ends his listing agreement without a sale, then he or she has failed. Of course they can try to blame someone else, lots of people do that when they do a bad job(and it's somewhat human nature).
I see in the Hamilton spec gives eight things as a buyer you should do, all of which are the realtors jobs, this add was posted bt the Agency RECO yes the governing body in Ontario for realtors, I have been ripped off by three separate agents, in one case RECO looked at it and said I quote " the agent was acting in the best interest of his client" what she did was lie to the buyer and claimed she spoke to previous owners and no fuel tanks were ever on property, she never did, PEOPLE we are being scammed by the media wheel of the realtors and RECO , pay your lawyer to review the contract, you can get a sales form on line for free, if a realtor commits fraud in Ontario he isn't insured anyway and a lot of realtors are smart and leave house and assets in family members names...GO PRIVATE, I will never have an agent again
This point of argument is just the agent trying to avoid any accountability for an outcome. Like I said, when does the agent get paid, he gets paid when the house is sold. If he's not getting paid by the hour and "consulting" then his job is to sell the house without any question.
When talking about paid work, your job is what you get paid for and selling the house is when you get paid. "educating, marketing and negotiating" are just tools to get the job done.
If the listing agent ends his listing agreement without a sale, then he or she has failed. Of course they can try to blame someone else, lots of people do that when they do a bad job(and it's somewhat human nature).
The problem with your argument is that we (real estate agents) are not the decision makers. The ability to sell lies solely with the homeowner. I can do an amazing job but if the seller flakes out then I don't get paid. If the buyer flakes out then I don't get paid. So, in reality there are multiple points of failure in any real estate transaction. Simply because a home fails to sell during a listing agreement does not necessitate that the agent failed.
Here's a great example . . . another agent in my office had a listing under contract to sell. Two weeks before the closing the buyer announced that he was relocating to Japan and forfeiting his deposit. Was that the agent's fault?
The problem with your argument is that we (real estate agents) are not the decision makers. The ability to sell lies solely with the homeowner. I can do an amazing job but if the seller flakes out then I don't get paid. If the buyer flakes out then I don't get paid. So, in reality there are multiple points of failure in any real estate transaction. Simply because a home fails to sell during a listing agreement does not necessitate that the agent failed.
Here's a great example . . . another agent in my office had a listing under contract to sell. Two weeks before the closing the buyer announced that he was relocating to Japan and forfeiting his deposit. Was that the agent's fault?
No, but the end result is there is a no sale. Just as in any service business when the excuses start flying the game is over. Things happen , but more often than not the agent just could not get the job done. For the seller it's time to move on , or sell the house yourself. That's been my case twice selling homes and in both cases I took charge and got creative , something my agent would not have done. After a year of no showings, or even making a phone call to me , I felt justified in breaking the contract , my agent never got a dime and rightly so.
In reality thinking back that's happened to me more than twice and I am not flipping houses ether. I build them, live in them sometimes for years , then sell for a profit , hopefully.
This point of argument is just the agent trying to avoid any accountability for an outcome. Like I said, when does the agent get paid, he gets paid when the house is sold. If he's not getting paid by the hour and "consulting" then his job is to sell the house without any question.
When talking about paid work, your job is what you get paid for and selling the house is when you get paid. "educating, marketing and negotiating" are just tools to get the job done.
If the listing agent ends his listing agreement without a sale, then he or she has failed. Of course they can try to blame someone else, lots of people do that when they do a bad job(and it's somewhat human nature).
Except that the agent has almost no control over whether the home sells or not. The seller is responsible for setting asking price, condition, terms. Let me as an agent set the asking price and then I'll be responsible on whether the home sells.
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