Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
After reading this I'm glad I was a teacher instead of a real estate agent with all the hate they get for their salaries.
Realtors have a tough gig, everyone wants to be the big dog but the reality is only handful are killing it.
Then you have soccer moms, bartenders working part time. Then you have people with licenses that don't sell sweat on a hot summer day!
I have a cousin, late 30's, lives at home. She is a first year realtor, loves to brag she sold 6mm in her first year.....at 2% she made 120K. A few "glitches" with her cash flow analysis:
1. Earned $0 in the prior 2+ years, not working (so she is averaging 40K a year)
2. Dad steered (2) 1.5mm+ sales to her. No more friends/family in the pipeline
3. Inventory is tight, she has never gotten a listing to sell, so far just worked with buyers.
We are over 1/2 way through 2021, no more sales on the table for her right now. When realtors run out of friends/family is when their "marketing plan" falls flat.
After reading this I'm glad I was a teacher instead of a real estate agent with all the hate they get for their salaries.
When I was moving to NC in 1997, I met a contractor who could barely read and write.
He said, "Teachers, bah. They have it so easy, and I hear that some of them make as much as $25,000! That's stupid."
I suspected he had not spent enough time in classrooms to gather a well-rounded opinion....
And, if you start at less than $100/hour, you are shorting me.
I would propose a flat rate structure for listing agent:
*Initially $1K for first 8 weeks of listing — list house on MLS, put lockbox on house, take photos, set up on show time apps, take all phone calls from buyers’ agents, pass on all offers to seller, process counters/acceptances thru app
*$1K if listing extends past 8 weeks for up to 6 months doing same as above.
*$1K additionally if house sells and agent processes closing docusigns.
1% if listing agent sells the property
I would propose that selling agents be paid 2% spilt 50-50 buyer and seller.
I would propose a flat rate structure for listing agent:
*Initially $1K for first 8 weeks of listing — list house on MLS, put lockbox on house, take photos, set up on show time apps, take all phone calls from buyers’ agents, pass on all offers to seller, process counters/acceptances thru app
*$1K if listing extends past 8 weeks for up to 6 months doing same as above.
*$1K additionally if house sells and agent processes closing docusigns.
1% if listing agent sells the property
I would propose that selling agents be paid 2% spilt 50-50 buyer and seller.
So, you would eagerly impoverish agents.. Good to know.
Property Exposure #1
Transaction Experience #2
Transaction Project management #3
Closing on time with no surprises #4
Dealing with the emotions of either buyer seller or other broker without exploding the transaction #5
Why do you believe you're paying for time and not the transaction closing for the price and terms you want?
Property Exposure #1
Transaction Experience #2
Transaction Project management #3
Closing on time with no surprises #4
Dealing with the emotions of either buyer seller or other broker without exploding the transaction #5
Why do you believe you're paying for time and not the transaction closing for the price and terms you want?
Because people don't value what they cannot grasp, or cannot put in their hands, or eat, or drive down the street.
Someone approaching me directly will likely get that better deal they seek since I'm not paying commission. Once I list it, that goes out that window because I'll have to pass whatever costs I incur on to a buyer. It really doesn't help the situation. All a buyer needs to do is hire a real estate attorney for a few hundred bucks if they're that worried, but it could save them more in the long-run. I feel when you cut out the middle-man, there's an easier way to come to a mutual agreement which benefits both parties, and both can benefit from savings.
I took a real estate course as one of my electives in college and had the instructor not had health issues, I'd have taken appraisal, had enough hours to sit for the exam, got my license, and put it on inactive. I wanted to learn the business anyway. I'm one of those that's willing to learn to do things if I can save myself significant money.
i understand your point.. but i rather pay 1-3% more to have a realtor do the work.
I would propose a flat rate structure for listing agent:
*Initially $1K for first 8 weeks of listing — list house on MLS, put lockbox on house, take photos, set up on show time apps, take all phone calls from buyers’ agents, pass on all offers to seller, process counters/acceptances thru app
*$1K if listing extends past 8 weeks for up to 6 months doing same as above.
*$1K additionally if house sells and agent processes closing docusigns.
1% if listing agent sells the property
I would propose that selling agents be paid 2% spilt 50-50 buyer and seller.
So hypothetically:
100K place- $1000 to get going and $1000 sale. with $1000 going to the selling broker. You just paid 3%.
In example B- you would only pay each agent $1000 to sell your house.
You do realize they would likely make more if they rented your property!
Lets imagine your sale is the only one they have close that month. They made $1000 in option B but it likely took 2 months from contract to closing (assuming nothing went wrong). So they made $125 a week waiting for that lucrative deal to go through.
Would you take that job for $125 a week? Heck between gasoline and alcohol I'd bet they lose money!
I'm not a realtor fan............car salesman without the cars!
But a great agent is priceless, a dopey agent can actually slow down/ruin the sale.
My biggest objection to hiring a realtor is people are selling their most valuable asset, paying a 4-5-6% gross sale commission and usually feel obligated to use the neighbor, the kid's mom that your kids were in the 3rd grade with or some other goofy connection.
I know a dozen realtors personally, like their cell number is in my contacts. I would not use 10 of them to sell my house for one reason or another. It would literally go down to 1-2 agents. I'd let them pitch me and the one with the best plan would get the listing. I want the highest price, I want them to set a new high for my neighborhood with my sale! Earn the commission!
That being said: Buyers are liars and sellers can be worse! I don't envy a know it all seller or buyer, that is a hassle for even a seasoned superstar agent.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Rubbish
