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this is all very true, except one point - she probably still knows the neighborhoods, areas, and schools better than you can possibly research on the internet.
I would be interested if someone found actual lawsuits or complaints to RE Boards from consumers about neighborhoods, areas, and schools. In addition to your link, I found 2 others readily that state almost the same info, but none point to an actual incident.
But yes, I certainly answer the "are there a lot of kids in the neighborhood?" question with (essentially) "you'll have to find out for yourself". And I'm fully aware that we are advised to avoid anything that might be seen as a violation of Fair Housing
My reason for that comment was not to slam agents. Clearly it helps to have an agent with tastes and interests similar to your own but one agent can't be like you in every way, nor can he or she know everything.
People want specialist knowledge and opinions from people similar to themselves in the areas they are asking about. I want to check google maps and online trail maps to study the trails that I can access directly from the neighborhood and then I want to go to a mt biking forum to get opinions on the trails from people with similar (feeble) mt biking abilities to my own.
Then I want to read opinions from people who live in the neighborhood and walk everywhere. Maybe my agent drives everywhere and can't relate to walking to grab a bite or pick up some groceries.
Some people want specialist school information and opinions from people similar to them - e.g. a mixed race couple, someone with child with special needs wanting info on schools, how snobby is the neighborhood really, how good is the hospital for [fill in your obscure affliction].
So my opinion is that even on topics that your agent can legally talk about, it's often better to research things yourself because you can get information tailored to your specific needs.
Not a slam on anyone, just the way the world has evolved.
It is a flawed concept. The agent has minimal control at best over what a seller will accept. What about a market with low inventory and everything is multiple offers? Would there not be some reward for merely helping the agent close on the house? Or is this a bonus for a lower price?
No, I reject this proposal out of hand. On the surface it sounds good but it doesn't actually improve anything when digging deeper. There will still be issues. Different issues but still issues.
The agent's job is to assist the person with the transaction. If we can help save a little money for them along they way that's great but at the end of the day it still comes back to the agent has limited control over final sales price.
It sounds like you're saying there is no way to compensate a buyer's agent for negotiating the best price for his client but I believe all would agree that some agents are better than others at negotiation. Do you believe the guy who saves me $20,000 or more should not get more compensation than the one who can't, or doesn't make the effort, in fact the successful negotiator will lose money himself?
Many agents claim that negotiating the best price is part of the job, with which I wholeheartedly agree, but here you're saying your job is only to "assist with the transaction." Do you believe most agents, for purposes of comparison, would be willing to supply prospective buyers with a list of properties they have closed as a buyer's agent including asking price, days on market and terms of sale? Would you?
It sounds like you're saying there is no way to compensate a buyer's agent for negotiating the best price...
I didn't say there wasn't a way, I said there wasn't a good way that didn't create other issues.
Quote:
Originally Posted by kokonutty
Do you believe the guy who saves me $20,000 or more should not get more compensation than the one who can't, or doesn't make the effort, in fact the successful negotiator will lose money himself?
Not necessarily. If you love a new listing in a hot market and have to bid over asking to get it, but you do get the house, did the agent do a bad job of negotiating? After all, you paid over asking but you DID get the home.
Quote:
Originally Posted by kokonutty
Many agents claim that negotiating the best price is part of the job
It is, but best price doesn't always equal a stellar deal. Sometimes it's just doing the best you can with the situation - see the above example.
Quote:
Originally Posted by kokonutty
Do you believe most agents, for purposes of comparison, would be willing to supply prospective buyers with a list of properties they have closed as a buyer's agent including asking price, days on market and terms of sale? Would you?
This will vary by individual. If it were up to me agent sales histories would be public information but most MLS's have rules against sharing such data publicly because they don't want to put the agents with a lesser resume at a disadvantage.
Followup - why does the days on market matter if you're the buyers agent? Is it take into consideration that the less days on market usually results in higher sales prices?
It sounds like you're saying there is no way to compensate a buyer's agent for negotiating the best price for his client but I believe all would agree that some agents are better than others at negotiation. Do you believe the guy who saves me $20,000 or more should not get more compensation than the one who can't, or doesn't make the effort, in fact the successful negotiator will lose money himself?
Many agents claim that negotiating the best price is part of the job, with which I wholeheartedly agree, but here you're saying your job is only to "assist with the transaction." Do you believe most agents, for purposes of comparison, would be willing to supply prospective buyers with a list of properties they have closed as a buyer's agent including asking price, days on market and terms of sale? Would you?
And, again:
How would you specifically propose to reward an agent based on contract price?
That you might decline to propose "a way" to further your concept would be clearly indicative of the purely rhetorical basis of the question you pose.
Last edited by MikeJaquish; 01-30-2018 at 05:39 AM..
And, again:
How would you specifically propose to reward an agent based on contract price?
That you might decline to propose "a way" to further your concept would be clearly indicative of the purely rhetorical basis of the question you pose.
No. I asked the "professionals" here if any of them could find a way to do it. It's okay if you either can't, or don't want to because the status quo works for you. I have actually proposed the outline of a compensation plan in the past that would reward an agent for saving his client money. The agents did not seem to like anyone rocking the boat.
No. I asked the "professionals" here if any of them could find a way to do it. It's okay if you either can't, or don't want to because the status quo works for you. I have actually proposed the outline of a compensation plan in the past that would reward an agent for saving his client money. The agents did not seem to like anyone rocking the boat.
"I have actually proposed the outline of a compensation plan in the past that would reward an agent for saving his client money."
Maybe I missed that?
Repost?
But, in this thread, recently, I clearly showed you how a professional gains rewards for a job well done, and I, too, was shot down for corrupting it with a quaint and offensive notion of "integrity."
Well that's a crazy blanket statement. Are you saying that I'm greedy and don't care about people or just other agents?
The state mandates requirements to achieve a license. The requirements to get a license are quite different than the knowledge and time invested to become a competent agent. Perhaps you should do a better job interviewing potential agents and you'll have a better experience.
I would never say you are greedy , I don't know you, and this is the internet!
But, many real estates agents are only after commission and your money. I experienced this first hand at a new community subdivision with the sales agents. They care nothing about you once they get that contract signed and get their money. I just don't like them. Rather deal with a used car salesman!
I didn't say there wasn't a way, I said there wasn't a good way that didn't create other issues. Do you also not think it would be possible to create one or is there simply no desire to do so?
Not necessarily. If you love a new listing in a hot market and have to bid over asking to get it, but you do get the house, did the agent do a bad job of negotiating? After all, you paid over asking but you DID get the home. I don't live in an area where houses sell for over the listing price but certainly an agent negotiating ability could have an influence on how much over one would need to go to get a deal.
It is, but best price doesn't always equal a stellar deal. Sometimes it's just doing the best you can with the situation - see the above example. Yes, see the above example.
This will vary by individual. If it were up to me agent sales histories would be public information but most MLS's have rules against sharing such data publicly because they don't want to put the agents with a lesser resume at a disadvantage. Is the MLS there to protect sellers and buyers or incompetent agents? Wouldn't the MLS be in a better position allowing such information to be disseminated to support the better agents?
Followup - why does the days on market matter if you're the buyers agent? Is it take into consideration that the less days on market usually results in higher sales prices?
Well, there you go - yes, it is to consider that, and also the opposite, that more days on the market usually results in lower sales prices.
I'm sure there must be a formula that could save a buyer money and at the same time increase the compensation for the better agents; if the less capable agents lose out is it anyone's fault but their own?
I would never say you are greedy , I don't know you, and this is the internet!
But, many real estates agents are only after commission and your money. I experienced this first hand at a new community subdivision with the sales agents. They care nothing about you once they get that contract signed and get their money. I just don't like them. Rather deal with a used car salesman!
"I experienced this first hand at a new community subdivision with the sales agents."
???
Were you talking to the builders' agents, or was this your buyers agent?
You know that the builder hires people whose sole function, and duty, is to get the best price and terms they can for the builder, within legal limits, right?
And, that some builders don't even use licensees to sell product, but use in house "sales agents" with no license?
"I have actually proposed the outline of a compensation plan in the past that would reward an agent for saving his client money."
Maybe I missed that?
Repost?
But, in this thread, recently, I clearly showed you how a professional gains rewards for a job well done, and I, too, was shot down for corrupting it with a quaint and offensive notion of "integrity."
A rough proposal was made probably a couple of years ago in a similar thread. I understand what you've said all along about your "rewards" but that is still not responsive to my question.
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