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I've never said that I don't think some people are capable of buying or selling without representation. I know many people are capable, and it is certainly their right. My argument was against buyers thinking they have a right to any part of a buyer agents, or listing agents commission.
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I don't see where that web site is going to help the people who don't know what they're doing, and who think they will be saving, but will be getting bad comp data. The structure that I saw does not seem workable to me.
I don't see where that web site is going to help the people who don't know what they're doing, and who think they will be saving, but will be getting bad comp data. The structure that I saw does not seem workable to me.
It isn't meant for people that don't know what they are doing. It is mean for people like RESkeptic and Marksmu that would like to run their own transactions and are probably capable.
It is okay if people choose to shoot themselves in the foot. If they don't know what they are doing and elect to engage in a six figure transaction on their own, it is their right to do so. Our job is to protect people in transactions that want protection.
As for buyers thinking they have a right to BAC, it is up to each agent to decide their business practices on that. If the OP asks their friend and their friend is fine with it, there is no issue that I see. I negotiated a discount on videos for my business because of the volume I was going to give him. So am I bad because we renegotiated his fee? My design company gives me a good deal on work because I send them a lot of work. Is it bad that we renegotiated their fee because I give them a lot of business? I just don't see the difference between that and someone that asks to credit the BAC. I don't get offended if they ask. I have a policy on it.
It isn't meant for people that don't know what they are doing. It is mean for people like RESkeptic and Marksmu that would like to run their own transactions and are probably capable.
It is okay if people choose to shoot themselves in the foot. If they don't know what they are doing and elect to engage in a six figure transaction on their own, it is their right to do so. Our job is to protect people in transactions that want protection.
As for buyers thinking they have a right to BAC, it is up to each agent to decide their business practices on that. If the OP asks their friend and their friend is fine with it, there is no issue that I see. I negotiated a discount on videos for my business because of the volume I was going to give him. So am I bad because we renegotiated his fee? My design company gives me a good deal on work because I send them a lot of work. Is it bad that we renegotiated their fee because I give them a lot of business? I just don't see the difference between that and someone that asks to credit the BAC. I don't get offended if they ask. I have a policy on it.
You've never asked for a discount on anything?
Consistently the voice of reason! I would not have gotten a license if there were more agents around here who could think this way!
We already have "Variable Fee" listings which must be disclosed in our MLS. Charging a seller a fee that varies for reasons such as representation of buyers has been around for years.
Many listing agents already have a menu of fees depending on who is represented in a transaction. The seller can use that reduction to help the buyer if so desired.
Nothing new here really.
All my listings are "variable fee" but in my MLS it refers to the fact the total commission is different if the listing agent sells it rather than a 3rd party agent. (I reduce the commission 1% if there is no buyer agent.) It must be disclosed because if there is a multiple offer situation and the listing agent wrote one of the offers it could affect the bottom line.
It isn't meant for people that don't know what they are doing. It is mean for people like RESkeptic and Marksmu that would like to run their own transactions and are probably capable.
It is okay if people choose to shoot themselves in the foot. If they don't know what they are doing and elect to engage in a six figure transaction on their own, it is their right to do so. Our job is to protect people in transactions that want protection.
As for buyers thinking they have a right to BAC, it is up to each agent to decide their business practices on that. If the OP asks their friend and their friend is fine with it, there is no issue that I see. I negotiated a discount on videos for my business because of the volume I was going to give him. So am I bad because we renegotiated his fee? My design company gives me a good deal on work because I send them a lot of work. Is it bad that we renegotiated their fee because I give them a lot of business? I just don't see the difference between that and someone that asks to credit the BAC. I don't get offended if they ask. I have a policy on it.
You've never asked for a discount on anything?
Every business owner should have their own business model. As I've said, many agents have different business models. Buyers and sellers are free to do as they wish, and they can choose among the companies who have various business models that fir their needs.
I have my business model and you have yours. I don't know what your business model is, nor have I ever criticized you or indicated that your model, whatever it may be, is bad; so I really don't know where you're coming from with these remarks.
All my listings are "variable fee" but in my MLS it refers to the fact the total commission is different if the listing agent sells it rather than a 3rd party agent. (I reduce the commission 1% if there is no buyer agent.) It must be disclosed because if there is a multiple offer situation and the listing agent wrote one of the offers it could affect the bottom line.
Ours, at ARMLS, just has a Yes or No field for Variable rate, which discloses that there is a variable rate. The amount is not disclosed.
Every business owner should have their own business model. As I've said, many agents have different business models. Buyers and sellers are free to do as they wish, and they can choose among the companies who have various business models that fir their needs.
I have my business model and you have yours. I don't know what your business model is, nor have I ever criticized you or indicated that your model, whatever it may be, is bad; so I really don't know where you're coming from with these remarks.
I'm just having a conversation. If you read my posts in a matter of fact way, you will always have my tone. Unless I have my snarky voice on, but then I use emoticons for that.
I'm just asking if you ever negotiate services or discounts with people as you have been passionate about buyers feeling they have a right to ask. I think that it can be perceived as hypocritical if you try and negotiate discounts with other service providers and then get offended when people ask you. That's all I'm saying.
All of this is just in response to your comment about a friend asking his friend to give him half his pay (comment #3). That is a judgmental comment about a situation that says something about what you value. If you never try and negotiate discounts then you are on solid footing because you never ask so it makes sense that you wouldn't want others to ask you. Your values are consistent with your actions at that point which is awesome. I don't need to have people agree with me nor am I putting you down for doing things differently than me. I do expect people to live what they believe though and ask questions if it seems inconsistent to me. I was just trying to clarify if your values are consistent with your actions.
it's a slippery slope,,,
you can't be knocking commissions around like a ping pong ball, the more you hit the ball, the smaller the table gets
when I bought my first house, I had the "suspect" angst against the listing broker, because I knew the commission and couldnt believe she was making x amount for -what I saw was paperwork,,,
quite a few years later I got licensed, and what an education I got- I saw the other side, of showing 25 houses to a buyer that "thinks" she's going to buy but doesnt, or getting caught in the crossfire of two lawyers and not sleeping for 4 nights- the buyer and seller are sue-ing each other
or having to testify in court, because of completely fraudulant accusations
or having 5 contracts and watching them fall apart, because they have to sell to buy, and there house didnt sell
very few people can do a good job representing themselves, without getting too emotional - that will lead to a deal breaker.
the next 4 fsbo's you see, look the owner right in the eye and offer him half of what he wants,,,,nothing wrong with a lowball offer right?? see how much "sport" there is in knowing how to dicker and negotiate, with an owner that is so offended, he wants to shoot you..
most of the wise developers ....I know,,,,,,,"protect" there brokers,,, because they know brokers will more than protect them..
I'm just having a conversation. If you read my posts in a matter of fact way, you will always have my tone. Unless I have my snarky voice on, but then I use emoticons for that.
I'm just asking if you ever negotiate services or discounts with people as you have been passionate about buyers feeling they have a right to ask. I think that it can be perceived as hypocritical if you try and negotiate discounts with other service providers and then get offended when people ask you. That's all I'm saying.
All of this is just in response to your comment about a friend asking his friend to give him half his pay (comment #3). That is a judgmental comment about a situation that says something about what you value. If you never try and negotiate discounts then you are on solid footing because you never ask so it makes sense that you wouldn't want others to ask you. Your values are consistent with your actions at that point which is awesome. I don't need to have people agree with me nor am I putting you down for doing things differently than me. I do expect people to live what they believe though and ask questions if it seems inconsistent to me. I was just trying to clarify if your values are consistent with your actions.
I don't ask for discounts.
Sometimes I go to garage sales if I'm looking for something I need that doesn't have to be new. I furnished a vacation rental with some items from a garage sale from an upscale home that was selling very high quality items and the prices were a steal. When I see a bargain at a garage sale, I can't bring myself to ask the seller to lower the price more. It doesn't make sense to me.
When I do rehabbing I use the same contractors that I've used for a long time because they do a good job at a competitive fee. I do not try to cut them down. I want them to make money and be happy working for me.
If I have to go out to bid for something, I'm going to get three bids and except the best bid considering quality and the integrity of the bidder. That may not be the lowest price bidder.
When I use regular contractors I expect them to be available to me in a reasonable amount of time. And when I refer them to clients I expect them to treat my clients fairly. And the contractors expect to be paid appropriately and on time.
If a paint job I need is for a 1200 sf house, I expect them to work me in their sequence, do a good job, and not delay me so they can do a 5000 sf house that called after I did. If they give me a price for a job and I tell them I want a 30% discount (which is typically what buyers who ask for rebates want, according to what I'm hearing on C-D) then I would probably be told where to go, or if he happened to be in need of work and gave me the discount, then the next time I need him to come do a 2 hour paint over a patch, he would most likely not be available. But if I'm paying him well, then he will break away and do the 1 or 2 hour job for me.
When you find good contractors that are skilled and reliable they deserve to be paid well. If, on the other hand, their prices are out of line with the going rates, I go out to bid.
I do a lot of mailing of postcards, and use a service in California. They provide a high quality product with quantity discounts shown on their price list. I mail every 4-6 weeks and get good results from them. Even though I mail often I pay their structured quantity prices without asking for further discounts because they have a quality product, and get the card out on schedule.
Why should I try to cut them down when they already have a fair price for a great product? Perhaps if I tried to cut them down then my mailings could get delayed if they had a much larger order they wanted to get out in front of me.
If I buy a car, I negotiate for a fair price because I know they are pricing the cars high expecting negotiation; so to pay full sticker price for a new car is to overpay.
You mentioned the op. Notice that the op was not looking out for his agent friend. He stated that he was looking to "sweeten the deal" for himself.
I don't think I have ever said that I never offer a discount. If I am selling a house for a client and they are buying another one from me, I will offer them a discount on the second transaction. I have several clients who do multiple deals with me, and I offer them a discount. These are people well educated in real estate, and very low maintenance. I still provide them excellent, 110%, service.
If a buyer comes to me expecting a rebate for a one home purchase, the answer is no. They have no right to my earnings. There are discount brokers who are set up with that business model.
Sorry I didn't respond to your post earlier, but I'm in the process of writing a book and I have to discipline myself to write a minimum of 1,000 words per day. So until I complete the book I have to reduce the amount of time on forums so I can keep on schedule.
Sorry I didn't respond to your post earlier, but I'm in the process of writing a book and I have to discipline myself to write a minimum of 1,000 words per day. So until I complete the book I have to reduce the amount of time on forums so I can keep on schedule.
Depending on what type of book you're writing, I'll buy a copy of your book when your done.
Is it autobiography, motivational, your business model, or kitty cats? (some humor)
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