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Thread summary:

Sell house fast: commission, haggle, real estate agents, realtors, realtor.

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Old 08-05-2008, 03:57 AM
 
Location: Michigan
29,391 posts, read 55,399,350 times
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Consumer Reports study showed 71 percent who bargained got lower rates.

NEW YORK - Don’t be shy about haggling over what you pay your real estate agent.


Home sellers can haggle over commissions - Real estate - MSNBC.com
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Old 08-05-2008, 11:19 AM
 
Location: Columbia, SC
10,894 posts, read 21,851,140 times
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Quote:
Originally Posted by John1960 View Post
Consumer Reports study showed 71 percent who bargained got lower rates.

NEW YORK - Don’t be shy about haggling over what you pay your real estate agent.


Home sellers can haggle over commissions - Real estate - MSNBC.com
The agents who will reduce their commission probably aren't worth it anyway. The best agents know their worth and command a certain price. I've always felt that if an agent can't even negotiate their own commission, they probably can't negotiate the sales price of a home on the owners behalf. Keep that in mind too.

It sounds good to save money, but you will really save money in the end? Probably not. Whatever you save on the front you give away on the back and and then some.
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Old 08-05-2008, 11:52 AM
 
Location: Central Texas
20,958 posts, read 45,182,148 times
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This isn't news, either. Commissions have always been negotiable. However, I agree with Brandon - if your agent rolls over and gives up on his own paycheck, how well do you think he or she will negotiate on your behalf?
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Old 08-05-2008, 12:13 PM
 
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Home Sellers Who Haggle To Lower Broker's Commission Usually Win (http://www2.tbo.com/content/2008/aug/05/bz-home-sellers-who-haggle-to-lower-brokers-commis/?news-money - broken link)

I guess it similar to this one! So it isn't only this area....good news so probable the commissions will go down and the people only in the business for the quick money will leave and the good once stay and will perform better to secure their clientele.
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Old 08-05-2008, 12:20 PM
 
27,206 posts, read 46,537,403 times
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Quote:
Originally Posted by TexasHorseLady View Post
This isn't news, either. Commissions have always been negotiable. However, I agree with Brandon - if your agent rolls over and gives up on his own paycheck, how well do you think he or she will negotiate on your behalf?

The same as they are doing now. The client has to do their due diligence is the words realtors like to use.
The market is changing if you like it or not. Just like in the flight industry and the travel agencies are almost history....this can happen to this business as well if nothing will change to the education of realtors, license of realtors, mortgage brokers that aren't checked very well or not at all.....if realtors not stand up and take action they have to blame them self in the future.

The good realtors will always find a way to get work, the rest will weed out sooner than later, since people have way more and easier knowledge and know after what has happened in the last 2 years, that they can't trust just any one in the profession.
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Old 08-05-2008, 12:50 PM
 
Location: Central Texas
20,958 posts, read 45,182,148 times
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Originally Posted by bentlebee View Post
The same as they are doing now. The client has to do their due diligence is the words realtors like to use.
The market is changing if you like it or not. Just like in the flight industry and the travel agencies are almost history....this can happen to this business as well if nothing will change to the education of realtors, license of realtors, mortgage brokers that aren't checked very well or not at all.....if realtors not stand up and take action they have to blame them self in the future.

The good realtors will always find a way to get work, the rest will weed out sooner than later, since people have way more and easier knowledge and know after what has happened in the last 2 years, that they can't trust just any one in the profession.
But "stand up and take action" does not equate to "lower your rates" - in fact, I think that's pretty much the last thing it does, and should, mean, if you're a professional. It can mean many things. It DOES mean many things, actually.
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Old 08-05-2008, 03:56 PM
 
Location: Los Angeles Area
3,306 posts, read 4,132,607 times
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The whole commission thing makes little sense. It doesn't take much more effort to sell a 400k vs a 300k home so why get paid more for the former? Realtors should be paid by the hour and thats that. Hopefully the real estate websites will change the way real estate is bought and sold.

And the idea that only bad Realtors will haggle on commission....give me a break. Its pretty obvious to any seasoned Realtor which properties are going to be a quick and easy sell and which are not. If someone ask you to lower your commission and you believe that the house will be a easy sell then it makes sense to lower it. It totally depends on the situation.
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Old 08-05-2008, 06:30 PM
 
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What do real estate agents do that is worth that kind of money, anyway?

it seems like you only need real estate agents to deal with other real estate agents, if there were none, you wouldn't need one
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Old 08-05-2008, 06:45 PM
 
3,459 posts, read 5,757,673 times
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Originally Posted by deep-blue-water View Post
it seems like you only need real estate agents to deal with other real estate agents, if there were none, you wouldn't need one
Reps for that...
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Old 08-05-2008, 07:07 PM
 
27,206 posts, read 46,537,403 times
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Quote:
Originally Posted by deep-blue-water View Post
What do real estate agents do that is worth that kind of money, anyway?

it seems like you only need real estate agents to deal with other real estate agents, if there were none, you wouldn't need one
Even if there is one you can deal with them.... I rather have the control in my own hands than leave others negotiate my money (It is all my money since I always paid cash)
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