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I find it OUTRAGEOUS and DISCRIMINATING and UNETHICAL that a Realtor would purposely overlook a home that isn't offering the standard %. We are selling privately on ISMH.com, and are also listed on the MLS (which cost us quite a bit of money to do). We were highly encouraged to offer at least 3% or we would be overlooked by the Realtors and Buyer Agents. How incredible is that? Isn't that illegal? We have done all the footwork, taken our own photos, wrote our own ad, posted our own sign, there is nothing for a broker to do but bring a prospective client to show the house, which btw is move-in condition. We are offering 2% on $309K and also have to put in a new septic system which has brought our profit margin down, waaaay down. We would like to make some money too - is that too much to ask? Why is it expected that the Realtor make the most commission in the sale of a home, and the seller walks away with next to nothing?? I think this day and age, in our smoldering economy, where real estate isn't moving that well and folks are scrambling for jobs and paychecks, I would be thrilled to make money ANY way possible. If one home is offering a smaller percentage than another, it is still a paycheck, it's still money, and fast money for them. I sense that people are getting tired of paying out exorbitant fees and percentages to the Realtors. I mean, how can you justify some of these outrageous commissions with just having to show a house? I realize that the commission is split/shared but still, even half a commission is still A LOT of money on a house that required no work on their part.
At any rate, if I find a Realtor purposely trying to veer prospective clients away from our house there will be consequences! We have actually made mock calls to be sure that is not happening.
I find it OUTRAGEOUS and DISCRIMINATING and UNETHICAL that a Realtor would purposely overlook a home that isn't offering the standard %. We are selling privately on ISMH.com, and are also listed on the MLS (which cost us quite a bit of money to do). We were highly encouraged to offer at least 3% or we would be overlooked by the Realtors and Buyer Agents. How incredible is that? Isn't that illegal? We have done all the footwork, taken our own photos, wrote our own ad, posted our own sign, there is nothing for a broker to do but bring a prospective client to show the house, which btw is move-in condition. We are offering 2% on $309K and also have to put in a new septic system which has brought our profit margin down, waaaay down. We would like to make some money too - is that too much to ask? Why is it expected that the Realtor make the most commission in the sale of a home, and the seller walks away with next to nothing?? I think this day and age, in our smoldering economy, where real estate isn't moving that well and folks are scrambling for jobs and paychecks, I would be thrilled to make money ANY way possible. If one home is offering a smaller percentage than another, it is still a paycheck, it's still money, and fast money for them. I sense that people are getting tired of paying out exorbitant fees and percentages to the Realtors. I mean, how can you justify some of these outrageous commissions with just having to show a house? I realize that the commission is split/shared but still, even half a commission is still A LOT of money on a house that required no work on their part.
At any rate, if I find a Realtor purposely trying to veer prospective clients away from our house there will be consequences! We have actually made mock calls to be sure that is not happening.
There is absolutely no reason that you have to pay any commission at all.
Just find your own buyer.
It looks like you think you've figured out the entire listing agent side of the transaction, shouldn't be that hard for you to figure out the buyer's agent side and find a buyer on your own and pay out no commission.
I find it OUTRAGEOUS and DISCRIMINATING and UNETHICAL that a Realtor would purposely overlook a home that isn't offering the standard %. We are selling privately on ISMH.com, and are also listed on the MLS (which cost us quite a bit of money to do). We were highly encouraged to offer at least 3% or we would be overlooked by the Realtors and Buyer Agents. How incredible is that? Isn't that illegal? We have done all the footwork, taken our own photos, wrote our own ad, posted our own sign, there is nothing for a broker to do but bring a prospective client to show the house, which btw is move-in condition. We are offering 2% on $309K and also have to put in a new septic system which has brought our profit margin down, waaaay down. We would like to make some money too - is that too much to ask? Why is it expected that the Realtor make the most commission in the sale of a home, and the seller walks away with next to nothing?? I think this day and age, in our smoldering economy, where real estate isn't moving that well and folks are scrambling for jobs and paychecks, I would be thrilled to make money ANY way possible. If one home is offering a smaller percentage than another, it is still a paycheck, it's still money, and fast money for them. I sense that people are getting tired of paying out exorbitant fees and percentages to the Realtors. I mean, how can you justify some of these outrageous commissions with just having to show a house? I realize that the commission is split/shared but still, even half a commission is still A LOT of money on a house that required no work on their part.
At any rate, if I find a Realtor purposely trying to veer prospective clients away from our house there will be consequences! We have actually made mock calls to be sure that is not happening.
Brena, I'm going to tip toe in here to point out one thing and that is the highlighted part of your post. Being a BA, or LA for that matter, is sooooo much more than just showing a home - would be nice if that was all there was to it, but alas it's not. There are the negotiations, drafting offers/counters, in some areas dealing with attorneys who are such a joy to work with, lenders who can be just pain in the you-know-what, inspections and then get through a successful closing, which can be very challenging. I just wanted to point out that it's a heck of a lot more work involved than just showing the house.
I find it OUTRAGEOUS and DISCRIMINATING and UNETHICAL that a Realtor would purposely overlook a home that isn't offering the standard %. We are selling privately on ISMH.com, and are also listed on the MLS (which cost us quite a bit of money to do).
For a valid reason, the system that the Brokerages have put in place work in successfully bringing the buyer and seller together.
Quote:
Originally Posted by Brena16
We were highly encouraged to offer at least 3% or we would be overlooked by the Realtors and Buyer Agents. How incredible is that? Isn't that illegal?
No. Advising on real estate matters is what we do, taking that advice or not, is up to you.
Quote:
Originally Posted by Brena16
We have done all the footwork, taken our own photos, wrote our own ad, posted our own sign, there is nothing for a broker to do but bring a prospective client to show the house, which btw is move-in condition.
Doing a third of the work (getting the house to market) doesn't meant you get all the pay either.
Quote:
Originally Posted by Brena16
We are offering 2% on $309K and also have to put in a new septic system which has brought our profit margin down, waaaay down.
Yes, because selling with a broken septic system will reel in the buyers.
Maintaining the home is the owners responsibility.
Quote:
Originally Posted by Brena16
We would like to make some money too - is that too much to ask? Why is it expected that the Realtor make the most commission in the sale of a home, and the seller walks away with next to nothing?? I think this day and age, in our smoldering economy, where real estate isn't moving that well and folks are scrambling for jobs and paychecks, I would be thrilled to make money ANY way possible.
Yes, it's harder to make a decent living, that's why we work off of commissions, higher risk of not getting paid means higher reward if we do. There is no money in finishing second.
Quote:
Originally Posted by Brena16
If one home is offering a smaller percentage than another, it is still a paycheck, it's still money, and fast money for them.
Fast? Who are you kidding? Easy? Not with you.
Quote:
Originally Posted by Brena16
I sense that people are getting tired of paying out exorbitant fees and percentages to the Realtors. I mean, how can you justify some of these outrageous commissions with just having to show a house? I realize that the commission is split/shared but still, even half a commission is still A LOT of money on a house that required no work on their part.
Uninformed people usually lose more than they gain.
Quote:
Originally Posted by Brena16
At any rate, if I find a Realtor purposely trying to veer prospective clients away from our house there will be consequences! We have actually made mock calls to be sure that is not happening.
How ethical is that? Fake calling Brokerages. You are not only wasting people's time....you are wasting their life!
Get over yourself. If you want to win at the game of real estate, play by the rules. It's worked for millions of people and properties. It's not a brokers fault you want or need to sell.
When I'm being told that Realtor's will LIE to avoid showing a home that doesn't give them their standard oodles of $$ you bet your bippy I'm doing mock calls to check and see if they are proceeding in good faith. Who on earth wouldn't?? It's nothing short of bully tactics. Some realtor's today have not adjusted accordingly to our current economy and still want the old standard percentages. That's greedy. Oh, and where did I say that I should get all the pay??? Um...... NO WHERE!! Thanks for getting so passionate about my blog, but there is no need to make personal attacks on me. Just sharing.
She wanted me to sign for an additional year, I refused. It's only for another 3 months, but as soon as I get a mortgage on the next house we are buying, I have something up my sleeve. I already have a buyer. That was good advice about putting it on the MLS yourself. Then, as you indicate you would have to pay the buyers agent, and that I would not mind at all since they are the one getting the house exposed. Thank you for an intelligent answer.
OK - while I did agree with your OP about the conduct of the agents you were working with, I'm going to step into it big time here and probably upset you. Posting that you already have 'something up your sleeve' and that 'you already have a buyer', well, really isn't right - even if you felt there were ethic issues where you were going to file a complaint with the local BOR or whatever - 2 seperate animals. In most states there is a hold over clause and if the brokerage gets wind of the fact a buyer was procured during the time the listing contract was in force you could be opening a can of worms that could very well come back and bite you in the butt; as well as possibly cause problems closing with this buyer. Just giving you my honest opinion, which I've done all along, but hold over clauses were specifically put in contracts (in the majority of states) just for instances like this. Now hopefully no one rips me a new one, because I'm not pro 'anyone' - just call things as I see them, whether IMO an agent has dropped the ball, whether a buyer is off base or a seller.
Last edited by JustJoy; 08-09-2009 at 10:32 AM..
Reason: typo
When I'm being told that Realtor's will LIE to avoid showing a home that doesn't give them their standard oodles of $$ you bet your bippy I'm doing mock calls to check and see if they are proceeding in good faith. Who on earth wouldn't?? It's nothing short of bully tactics. Some realtor's today have not adjusted accordingly to our current economy and still want the old standard percentages. That's greedy. Oh, and where did I say that I should get all the pay??? Um...... NO WHERE!! Thanks for getting so passionate about my blog, but there is no need to make personal attacks on me. Just sharing.
What do you mean Realtor's will lie to avoid showing a home?
If you show no interest in being pre-approved for a loan, have little (no immediate) motivation to buy, and "aren't nice" I will rarely get you in my car or meet you for the first time at a property.
When I'm being told that Realtor's will LIE toavoid showing a home that doesn't give them their standard oodles of $$ you bet your bippy I'm doing mock calls to check and see if they are proceeding in good faith. Who on earth wouldn't?? It's nothing short of bully tactics. Some realtor's today have not adjusted accordingly to our current economy and still want the old standard percentages. That's greedy. Oh, and where did I say that I should get all the pay??? Um...... NO WHERE!! Thanks for getting so passionate about my blog, but there is no need to make personal attacks on me. Just sharing.
Who is telling you this?
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