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Old 04-09-2024, 01:00 PM
 
Location: Cary, NC
43,264 posts, read 77,043,330 times
Reputation: 45611

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Quote:
Originally Posted by Silverfall View Post
No. I don't think so. It is all about the math.

Brokerages just need to be mindful about not overhiring for the market. You can't have agents spreading their business costs over so few clients. Fees can come down if agents do more transactions per agent.

Agents need to stop wasting time taking out buyers who aren't ready to buy and that they haven't properly vetted. Buyer agency is very time-consuming because agents let it be that way. It will shift and become more streamlined to keep fees down AND buyer agents will stop being on call 24/7. You can still make good money, but there is a price to pay for a drop in fees and being on call all the time is one of them.

The volume of agents is seriously problematic in terms of affordable fees for consumers.
This seems a very generic statement, but I would be interested in seeing numbers that back it.

My work or income almost never felt impacted or based on the number of agents.
I never believed in the 24/7 stuff, but I do believe that an agent working a 9-5, M-F, was generally far out of step with most buyers' needs.
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Old 04-09-2024, 02:48 PM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659
Quote:
Originally Posted by MikeJaquish View Post
This seems a very generic statement, but I would be interested in seeing numbers that back it.

My work or income almost never felt impacted or based on the number of agents.
I never believed in the 24/7 stuff, but I do believe that an agent working a 9-5, M-F, was generally far out of step with most buyers' needs.
I support capitalism and the free market, but boy if all this happens, I would sure be happy if they went after attorney fees next. Unfortunately, most of the politicians are lawyers, so they aren't likely to eat their own.
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Old 04-09-2024, 03:27 PM
 
Location: Salem, OR
15,572 posts, read 40,409,288 times
Reputation: 17468
Quote:
Originally Posted by MikeJaquish View Post
This seems a very generic statement, but I would be interested in seeing numbers that back it.
I don't have numbers; I just know how some coaching work. So for agents that do the Zillow FlexAgent program, the training tells you to schedule a showing that day for the house they contact you about. Then you ask if they want to see any other homes. There is no request to show they are preapproved by a lender.

I always ask if buyers are preapproved (with agents I haven't worked with before) when agents want to show my listings. If the house is vacant, I let the showing happen without preapproval. For occupied homes, it is an automatic rejection.

Agent training programs tell agents to get the showing first to start to build a relationship, and then ask the other questions after that.

Quote:
Originally Posted by MikeJaquish View Post
My work or income almost never felt impacted or based on the number of agents.
I never believed in the 24/7 stuff, but I do believe that an agent working a 9-5, M-F, was generally far out of step with most buyers' needs.
It didn't impact me personally, but I do it impacts the overall agent group. Not all consumers need real estate agents, but those that need us, need us to be good. You can't have 80% of agents leave in two years and have consistently good agents. We can disagree on this point. Too many agents is a bad thing for consumers and inflates costs, in my opinion.

I don't get people that hire M-F 9-5 brokers, but we have a couple of them here and they do just fine. I don't think there is huge demand for that though.
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Old 04-09-2024, 05:25 PM
 
Location: Cary, NC
43,264 posts, read 77,043,330 times
Reputation: 45611
Quote:
Originally Posted by Silverfall View Post
I don't have numbers; I just know how some coaching work. So for agents that do the Zillow FlexAgent program, the training tells you to schedule a showing that day for the house they contact you about. Then you ask if they want to see any other homes. There is no request to show they are preapproved by a lender.

I always ask if buyers are preapproved (with agents I haven't worked with before) when agents want to show my listings. If the house is vacant, I let the showing happen without preapproval. For occupied homes, it is an automatic rejection.

Agent training programs tell agents to get the showing first to start to build a relationship, and then ask the other questions after that.



It didn't impact me personally, but I do it impacts the overall agent group. Not all consumers need real estate agents, but those that need us, need us to be good. You can't have 80% of agents leave in two years and have consistently good agents. We can disagree on this point. Too many agents is a bad thing for consumers and inflates costs, in my opinion.

I don't get people that hire M-F 9-5 brokers, but we have a couple of them here and they do just fine. I don't think there is huge demand for that though.
I never took paid coaching for about a million reasons.
You've given me a couple more reasons to feel fine with that choice.
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Old 04-10-2024, 08:07 AM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659
Quote:
Originally Posted by Silverfall View Post
I don't have numbers; I just know how some coaching work. So for agents that do the Zillow FlexAgent program, the training tells you to schedule a showing that day for the house they contact you about. Then you ask if they want to see any other homes. There is no request to show they are preapproved by a lender.

I always ask if buyers are preapproved (with agents I haven't worked with before) when agents want to show my listings. If the house is vacant, I let the showing happen without preapproval. For occupied homes, it is an automatic rejection.

Agent training programs tell agents to get the showing first to start to build a relationship, and then ask the other questions after that. ...
I despise that zillow showing request feature. The buyer goes to the website, selects a day and time to see the home (usually same day and about 1-3 hours out), and the agent is expected to schedule the showing with the seller and just show up to meet the buyer. It's a terrible business model and I don't work that way. Plus I stay pretty busy so I'm not often able to just go take a random meeting with 1-3 hours notice. When I work with buyers, they are clients that are qualified and not customers that I've never met.

Z really thinks an agents time and value is very low IMO based on how they expect Realtors to just be yes men and jump at random showing opportunities with unqualified strangers. If I were selling, I wouldn't want unqualified people that may or may not be actual buyers being given access to my home
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Old 04-10-2024, 08:09 AM
 
Location: Cary, NC
43,264 posts, read 77,043,330 times
Reputation: 45611
Quote:
Originally Posted by Brandon Hoffman View Post
I despise that zillow showing request feature. The buyer goes to the website, selects a day and time to see the home (usually same day and about 1-3 hours out), and the agent is expected to schedule the showing with the seller and just show up to meet the buyer. It's a terrible business model and I don't work that way. Plus I stay pretty busy so I'm not often able to just go take a random meeting with 1-3 hours notice. Z really thinks an agents time and value is very low IMO based on how they expect Realtors to just be yes men and jump at random showing opportunities with unqualified strangers. If I were selling, I wouldn't want unqualified people that may or may not be actual buyers being given access to my home.
"Thinks?"
You give Z too much credit. It's all about clicks, and Z won't care if the agent(s) look bad.
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Old 04-10-2024, 09:06 AM
 
5,581 posts, read 2,304,086 times
Reputation: 4804
Quote:
Originally Posted by Brandon Hoffman View Post
... If I were selling, I wouldn't want unqualified people that may or may not be actual buyers being given access to my home
I am a buyer in today's market. Not once has an agent ensured that I was qualified before showing me a home.
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Old 04-10-2024, 09:30 AM
 
Location: Cary, NC
43,264 posts, read 77,043,330 times
Reputation: 45611
Quote:
Originally Posted by Variable View Post
I am a buyer in today's market. Not once has an agent ensured that I was qualified before showing me a home.
How many agents?
How many homes/showings?
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Old 04-10-2024, 10:22 AM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659
Quote:
Originally Posted by Variable View Post
I am a buyer in today's market. Not once has an agent ensured that I was qualified before showing me a home.
Qualified can also mean different things at a different stages in the process. It doesn't have to mean pre-approved for a mortgage, but before I show multiple homes and commit a bunch of time to a buyer client, I still want to make sure everything is green light. To do otherwise is irresponsible as I could be wasting my time, the buyers time, and the sellers time.
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Old 04-10-2024, 10:25 AM
 
Location: Columbia, SC
10,966 posts, read 21,972,507 times
Reputation: 10659
Quote:
Originally Posted by MikeJaquish View Post
How many agents?
How many homes/showings?
Location may also be relevant. Different locations have different customs and laws. West coast seems to be more fly by the seat of your pants w/o agency agreements vs. many states in the SE with customer/client agency agreements required by law.
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