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You didn't answer the question. You repeatedly accuse agents of influencing the buyers. Can you find any point in my post the buyer was denied access to homes or was influenced by commission? It's a yes or no. If yes, please explain. If you don't answer, I'll assume it's because your argument was defeated and you're to ashamed to admit you were wrong.
I'm not accusing buyer's agents of influencing buyers. I'm accusing them of having a conflict of interest.
They should influence buyers. They should not have a conflict of interest.
You can assume whatever you want - that's your perogative.
Furthermore LinusK - I don't believe you can exactly search the MLS on your computer. I may be wrong, but I don't believe you're a subscriber. You can see some of the info on almost all of the properties for sale - at Realtor.com, but you can't search the MLS. If this information was available freely on the www, I wouldn't be paying $1,200+ every year for it, believe me. If you're not sure what I'm saying, look up the number of days on market, seller concession, original list price, and appraiser name for a sold property down the street from you. Now - read the deed, the seller property information report and the lead disclosure. Who was the bank appraiser...or was it a cash transaction?
How old was the roof? How about the siding...was that replaced by the seller? Or was it original? What was the price at the time it went under contract? Is this on Realtor.com? This is the sort of information licensed professionals, who then join the NAR, the State association, and thier local board of Realtors/MLS have access to. But it's proprietary and it's not free. Continuing education is required to retain the right to continue to pay dues and continue to have access to this sort of detailed information on active, pending, withdrawn, and sold properties.
This is a pretty important distinction, I think.
I agree.
When I say "search the MLS" I mean the consumer version, not the one that subscribers get to see. I understand it's a whole other thing.
The best one I've been able to find is at Zip Realty - it has DOM and reduction history. Most consumer search sites don't even include those things.
I didn't mean that he would ********* over. I meant that maybe you wouldn't get the best service (beyond objective advice). Would he spend the same amount of time doing research, put in the same vigor negotiating a contract, or drive you all over hell's half acre?
My own opinion is that REAs sell themselves short by spending as much time as they do driving people around and opening doors for them. I understand people need to see a lot of houses before they make a decision, but they don't necessarily need to go inside all of them. I'd estimate I can eliminate more than half by driving by the house on my own.
Anyway, the answer to your question is that fee for service is not perfect; it's just better than commission.
Of course I do much more than that, but there is no need to get into specifics when an brief outline will do. You still didn't answer the question. You have stated several times that agents steer buyers to higher commissions and higher sales prices. Using the method above, I'd like to know why you feel agents steer since 1-the buyer picks the homes they want to see and 2-the buyer picks the home they want to buy?
Why agents steer: I think agents steer because sellers offer bonuses, and because commissions vary from one seller to another.
If commissions and bonuses didn't work, it seems unlikely sellers would offer them.
The issue isn't that agents deserve to get paid for their work (they do) or that they respond to incentives (like every other sentient being in the world). The issue is who is paying them, and (more importantly) who controls the incentives. As long as it's the seller who controls the incentives, the seller has the power to manipulate them.
Why agents steer: I think agents steer because sellers offer bonuses, and because commissions vary from one seller to another.
If commissions and bonuses didn't work, it seems unlikely sellers would offer them.
The issue isn't that agents deserve to get paid for their work (they do) or that they respond to incentives (like every other sentient being in the world). The issue is who is paying them, and (more importantly) who controls the incentives. As long as it's the seller who controls the incentives, the seller has the power to manipulate them.
You still didn't answer my question. You've dodged it 3 times now so I don't even hope to get an answer from you, yet I'll ask a 4th time. In my method where the buyer picks what homes they want to see and make offers on, how can there possibly be steering as you claim is always the case?
You still didn't answer my question. You've dodged it 3 times now so I don't even hope to get an answer from you, yet I'll ask a 4th time. In my method where the buyer picks what homes they want to see and make offers on, how can there possibly be steering as you claim is always the case?
If you don't offer advice or counsel, then you can't influence anyone.
My question: Why should a buyer settle for an agent who won't offer any advice? Isn't that what buyers hire agents for in the first place?
Mr. an Mrs Buyer - I have several homes to show you in the area you expressed an interest in - one of them has offered a bonus to the selling agent for a full price offer. Now, if you like this home and we make a successful offer, lets take that bonus into account shall we? Take it right off the top.
Whoaaaaaaaaaaa there horsey.... While I don't have a problem with a seller or buyer working their very best deal, facts are, the more you pay in commission, the faster and more your home will sell for. I see far more people shoot themselves by being cheap with a truly professional Realtor than by paying for value. A pro-Realtor is as professional as a skilled surgeon and you surely wouldn't cut yourself or hire the lowest cost brain surgeon.
I agree, there are lots of less than professional real estate licensees out there, but there are some wonderfully talented and experienced people who will be worth every dollar they are paid.
Stop flying with the wings tied on with telephone wire. It will cost you.
From this post I can tell that you are just the type of Realtor that I don't want to work with... skilled surgeon!
Talented and experienced - and worth every dollar....
I worked as a secretary in an office with 35 Realtors once... you're a perfect example of why I'm no longer working there!
WHY do salespeople think the world is blessed by their presence and that everyone owes them something???
Last edited by World Citizen; 11-24-2007 at 12:42 PM..
Reason: mmmmm,,,,,
If you don't offer advice or counsel, then you can't influence anyone.
My question: Why should a buyer settle for an agent who won't offer any advice? Isn't that what buyers hire agents for in the first place?
Buyer beware!
Realtors aren't suppose to steer you according to the Fair Housing laws. Most buyers believe that Realtors will steer you into a better location and tell you facts that they might know about a particular location -- not true.
They WILL steer you AWAY from houses with lower commissions and discount brokers!~
In the present market and with what has been revealed about the Real Estate industry --- we need to level the playing field. They should DO AWAY WITH SELLER BONUSES!
Realtors are just sales people.... they work for the Seller - (supposedly)... but I've been burnt by Realtors on both sides of deals...
I think that Realtors should look at what Scottrade has done for the securities industry and think very hard about the appearance of all of the new Discount Real Estate firms....
The American public will ultimately make thier own choice!
Last edited by World Citizen; 11-24-2007 at 01:16 PM..
Reason: ...
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brain surgery
