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But....
A great many consumers only value what they overpay for. No, not all sellers, but a great many do.
In our local hot sellers' market, where 70%+ of buyers' agents work for 2.4% co-broke, I routinely see listing agents walking away with 3.6% or more out of 6% + "paperwork fees." And, the definition of a "sellers' market" should include, "Buyers agents working much harder than listing agents for longer hours, at more expense for longer periods of time."
This is the choice many consumers make, because they value intangibles like Brand Name, Class A+ office space, expensive agent trappings, flashy marketing, etc, all which drive costs without bringing measurable value.
A 5$ tip at dinner is a very different thing from taking a 10k hit to the shorts.
Is it? I mean the 15% was for carrying a plate of food and a few drinks to a table. And to top it off the waitress didn't even make the food or drink themselves. That's 3x what a commission is!
Is it? I mean the 15% was for carrying a plate of food and a few drinks to a table. And to top it off the waitress didn't even make the food or drink themselves. That's 3x what a commission is!
Did you tip the valet who parked your car the last time you used one, 15% the value of your car? I mean give a me a break with this.
The realtor did not build my house either all they are doing is flipping paper work and making calls.
Quote:
Originally Posted by Brandon Hoffman
Is it? I mean the 15% was for carrying a plate of food and a few drinks to a table. And to top it off the waitress didn't even make the food or drink themselves. That's 3x what a commission is!
Makes one wonder if one of the issues in this thread might be the use of the word "commission".
If you look that word up in the dictionary, the word "commission" means "a duty" and "duty" means a "moral or legal obligation". Therefore, people interpret the term "commission" to mean an obligation to pay (the RE agent). There is no expressed or implied level of performance.
I suggest calling the monies paid to RE agents a "real estate service fee". The definition of fee includes "a payment made to a professional person or to a professional or public body in exchange for advice or services". This definition now does include an expressed level of performance where monies are exchanged "for advice or services".
Yes, it is semantics but words mean things.
What say you?
(EDIT: In preparing the comments above, I went to Google and searched for "definition of commission", etc. Your search may result in slightly different definitions.)
No...but I bet that when he bought a car the salesman received either a commission or a flat fee for handling the purchase--much like in real estate.
Car salesmen make on average $250 a vehicle. So that's the amount you would like to make? Try again I think.
But maybe you donated to him an extra 5% or around a 1k since you wanted to contribute to him making a good living?
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