Realtors

[HAULASSHENRY]

How many people in here feel that realtors offer a benefit? and how many people in here feel that worthless realtors are the desicretion of higher prices and are completely overpaid for what they do?

[uvindex]

and how many people in here feel that worthless realtors are the desicretion (sic) of higher prices and are completely overpaid for what they do?Nice scientific survey you have going there (not to mention the newly coined word!) Gee, I wonder what your view might be on the subject?

[dicudmore]

obviously there are good and bad ones....
A good realtor IMO is absolutely worth what you pay them.

[jdogginla]

I bought my house with out an agent. I got lucky.....I had leased the house before. He told me he was going to put it on the market, so I told him I'll buy it if we can do the deal betweeen us without agents. I offered him 8 % less than what he said he was going to list it at. Told him if he lists it, he's going to pay 6% to the agents no matter what, and that it was in both of our interests for me to buy the house, so take additional 2% for the no hassle factor. We went back and forth a little, but in the long run got it done without agents and saved myself 30k on the house.
Only because I've dealt with the paper work before would I consider not using an agent in the future, but there is alot of shit they have to know and do! I think they earn their money............also if you feel differently commission's are negotiable.

[Ivan Dan]

You have a total of 12 posts and you've already managed to get -50 to -99 rep points. Keep up the great work pal!

[RiverDave]

LOL... Well obviously Ivan Dan is a realtor. :D
In all seriousness though, I'd use a realtor to purchase something large like that. It's almost like insurance to keep you out of all of the pot holes that your not aware of.
RD

[HAULASSHENRY]

What are rep points Ivan?

[dicudmore]

What are rep points Ivan?
that red dot below your post count...me thinks

[ROZ]

You're a phony online at the marina....

[BIGTYME]

Hey haulass genius
Next time when you need surgery, go over to your friends house and have him take care of you due to the fact that doctors are overpaid!
What an idiot!
Please give me some insight on how REALTORS drive up prices?????
I guess now the realtors not the BUYERS get the loan and write the checks and the realtors get the equity check at closing and not the SELLERS!
Hello captain stupid. Seller sets price - buyer pays price.. What a concept!
PROUD REALTOR

[Slib77]

Lmao!!!!

[Scream]

Hey haulass genius
Next time when you need surgery, go over to your friends house and have him take care of you due to the fact that doctors are overpaid!
What an idiot!
Please give me some insight on how REALTORS drive up prices?????
I guess now the realtors not the BUYERS get the loan now and write the checks and the realtors get the equity check at closing and not the SELLERS!
Hello captain stupid. Seller sets price - buyer pays price.. What a concept!
PROUD REALTOR
You don't hold back do you...lol
Scream

[Unchained]

Realtors have made over 100k in commissions on me in the last 7 years.
I'm a slow learner so it took me a few years to realize the facts.
My conclusion is that my best interest was far down the list of importance for them.
How soon and for how little effort that they could collect their commission was their main focus.
The last four sales I've done myself.
As far as jobs I've done, it's the easiest "no brainer" that a person could do.
The fact is that the title company and the borrowers bank do all the work.
As the seller you just have to have a buy/sell agreement.
When selling a property ask yourself how many actual hours did that realtor work on your sale. Then figure that into the commission, If you only paid the realtor $ 1,000.00 / hr then you got a tremendous deal.

[Starloans]

That brain surgery is not a real comparison. I'm a realtor. I just bought a "flat fee" real estate company. I also do mortgages. I like selling homes for a flat fee, putting it on the companies large busy website and helping the seller sell it. We help review the forms, set up service providers, etc for a flat fee. We offer the option of putting it on the mls so another broker can bring a buyer but it's the seller's option.
There was a house sold in Rancho Santa Fe here in SoCal recently for $14,000,000. That's right, 14 mil. :jawdrop: The agent rep the buyer got 3%. That's $420,000. That's crap! The listing agents commission is not discolsed. I think that's a bit excessive. I would have done it for hundreds of thousands less. That is an extreme case, but hey, it's SoCal!
In Kalifornia, always, always get someone to review the deal, check the paperwork, property etc. if you are not using a realtor unless you are in real estate yourself. Even if it's a friend, relative, attorney, etc. that checks it. It will save you many headaches. And if you shop around you can do it for less than 6% when you do use a realtor. But realtors do have some value. :D

[Scream]

Here's my plug for a good realtor. 4 years ago or so we sold our house in Fontucky and bought one in Alta Loma. When we listed, we did so with a couple of realtors from Claremont. They didn't do anything for us, and all they were working for was the commission and not the sale or the satisfaction of the client (me). After thier 90 days we fired them. They were really put out about that, but they had thier listing and lost it. We tried a friend of mine that I knew had the ability to do a good job. She got us up and running right away and shopping for a new home immediately. We got lots of bites and interest right away.
About 30 days into this listing we got an interested party during an open house. She worked this guy for days trying to schmooze him for the deal. She had him going for about a week when he came in with a real low ball offer...from another realtor. This boob used her and then screwed her. We denied the offer based soley on the $ amount, but it felt good to send him packin because he was a louse...
A week later we got an offer close to full price. The buyers realtor said the buyers were qualified and ready, and should have no problems with funding, yada yada yada. We accepted the offer. We went back to several of the homes we looked at and offered on the home we now own. The clock is ticking and we're getting excited and antsy. It was supposed to be a 30 day escrow. It turned into 45 days when we find out that the buyers cannot get funding because they lied about thier income on thier credit app...assholes. So were standing in our living room, all of our belonging in boxes, a deposit on our house to be whose previous owners now live in Wisconsin and are waiting for our $$$...It's a mess.
So our realtor, after chewin out the buyers and thier realtor and the realtors broker, relists and starts callin in favors, when all of the sudden guess who shows up? The asshole who lowballed us before. The dick gave us a real reasonable offer and we had no choice but to take it.
By the time the deal is done, this dipshit bleeds the realtor dry, squeezing all of the commission from the sale she would have made out of her making her promise to all sorts of special things. She made absolutely zippo on my house, even though she was the buying and selling realtor. To make a short story long, she went way out of her way to get the deal done, she earned every cent and then some and I don't think it was because she was known to me, but because that's what it takes to be a good realtor...
Scream <-- kinda long winded tonight.

[Hallett19]

I'm a realtor and I feel that people that try to sell their homes by themselfs are doing themselfs and injustice. Too many times, in my area especially, I see so many for sale by owners, or fisbos to realtors, have a real estate agency sign infront of their house after a few weeks of no response from buyers. In the long run, what we spend for advertising, what time we spend representing our clients while they are at work, the amount of risk we take every day putting deals together, we are worth every penny in most situations. Now, granted, some people that move constantly and are paying 100's of thousands of dollars every 10 yrs in commisions should stick with a personal realtor who has an agreement worked out with them. I have no problem helping out return clients in any way I can. And those who represent sellers or buyers of extremley high end homes who are making close to 500k in one transaction, are they worth that much money, probably not, but these usually arent some wet behind the ears real estate agent who "ran into" a deal like that. People I know who put deals together like that have been in for many many years, worked with many high end buyers and know how to work with them. If you have a bad real estate agent, dont hesitate to fire him as fast as you hired him, I have been told to my face when I first started that I had no idea what the hell I was doing, now every client I have had in the last 2 yrs has praised my efficiency, my effort to make it as easy on them as possible and have since had many referals from happy clients. This is a guy who got burned by an incompetent agent and has formed a negative opinion and is throwing out blankent statments.

[That Guy]

You're a phony online at the marina....
Everyone needs to remember that this henry dude really doesn't want to do anything but stir up trouble. For those of you who missed it, just check the Marina noise threads. He has at least 3 identities and hasn't said anything remotely intelligent yet.....Now, lets go back to what is important on a boating thread.....Pamela Anderson. :D :D :D

[BIGTYME]

Hey Star,
Congratulations on the purchase. I think those companies are a joke personally. Realisticly your doing half the work for half the price. I mean the seller shows the home, holds the open houses, does all the leg work, while the broker shuffles through the paperwork and however " gives a good deal". I think all these companies ( Assist - 2 - Fail and HelpUFail ) wil be a distant memory once it becomes a buyers market and agents actually have to use marketing and sales skills to sell a home.
However, good luck with everything. I am definetly a fan of success and wish you the best of luck. The surgery comment may not be 100% accurate however it does give an analogy on the whole situation.
If people knew the expences a REALTOR has it would be quite suprising. Saying as just to be titled a " REALTOR " costs quite a bit of money.

[Kilrtoy]

the amount of risk we take every day putting deals together,
Im curious what are the risk,
Severe paper cuts, callous's on the tip of your fingers, a sore ass from sitting all day.
Not poking fun at you, but what risk does an agent take.....

[j-rod]

I (Mrs. J-Rod) am a realtor and I think we are worth our weight in gold. There are soooo many realtors in So Cal that just do NOT "do their job" and believe me, I run across then everyday in this business. Part of the problem is that so many people think they can get into real estate and do it "part time". This is totally false. This is a full time career with an average work week of between 60-70 hours. If you do not have a full time realtor working for you, you are doing yourself a huge injustice. I know that I always make an effort to act in the best interest of my client, whether I am representing a buyer or a seller. With respects to the 6% commission, I haven't known many people paying 6% commission in the sellers market we have been in for the past 4 years. The average commission is now ranging from 4.5%-5% total GROSS commission. Keep in mind that you have to split that 50/50 with another agent and then you have a split with your broker and then a split with Uncle Sam. So whoever thinks that all realtors are making too much money for what we do is sooooo wrong. The liability that comes along with a real estate transaction is quite large and I don't know about the rest of you realtors, but the E & O Insurance Companies have raised their rates and for CENTURY 21 our deductible went from $5,000 to $15,000. Just for the deductible. A good agent is someone that is going to advertise your property through the proper channels as well. This is not cheap. Print advertising is quite expensive and paid for 100% by the realtors NOT CENTURY 21 or REMAX or COLDWELL BANKER..... by us personally.My monthly advertising costs are $2,500 per month just for print ads. So for everyone that has hired an agent that did not work for them, this is my suggestion to you....... When looking for an agent to represent you, start looking into the local newspapers and real estate magazines and look for the agents that are consistent in their advertising. Then interview at least 3 of them and then choose who you are most comfortable with and who you feel will work the hardest for you and represent you in the manner in which you expect to be represented. I guarantee you that there are alot of hard working agents like myself that would change the way you feel about realtors.
www.jodibreneman.com

[OutCole'd]

the amount of risk we take every day putting deals together,
Im curious what are the risk,
Severe paper cuts, callous's on the tip of your fingers, a sore ass from sitting all day.
Not poking fun at you, but what risk does an agent take.....
LMAO!!

[BIGTYME]

J-Rod, Well said. However one place I do not agree is that all good realtors work 70 - 80hrs/week. I have done 4 transactions in 1 month and while having 4 satisfied clients, still managed to work much less than 40hours.
90% of steady top producers work less that 40hrs a week.
With effective time management 4-5 deals per month can be easily maintained in less than 40 hours a week. Anything more than 5/month, It's time for an assistant.
However you hit the nail on the head with what you said. Good job!

[j-rod]

I don't know any successful agent that is sitting on their ass all day. Here's some examples of "risk".....
The business of buying and selling real estate is becoming more complex. Rapid technological improvement and its application in the real estate industry, as well as changing state and federal laws are making it difficult to buy or sell real estate without the help of a professional. For the seller, consumer protection laws bring a high degree of liability into the transaction. It is worth noting that the seller's liability is not diminished by ignorance of applicable laws.
When buying a home, a realtor leads you through the contract negotiation and insures that your rights are protected and your liability minimized as contracts and agreements are prepared. They advise you of financing options and coordinate the inspection and appraisal processes. Furthermore, they make sure the inspection process is handled properly and subsequent negotiations concerning any repairs are completed within the specific time frames required in the contract. Finally, a realtor leads you through the lengthy closing process and protects your interests.
Mrs. J-Rod

[mbrown2]

How many people in here feel that realtors offer a benefit? and how many people in here feel that worthless realtors are the desicretion of higher prices and are completely overpaid for what they do?
So you don't like realtors? :confused:

[Kilrtoy]

Jody,
Very well put. I was just busting that guys balls. The thought of making such a high priced transaction without the security of a knowledgable agent is mind boggling. You can't buy a car without a sales person and trust me YOU DO PAY FOR THAT and alot more than you do for a realtor.

[j-rod]

LOL.... I'll drink to that Kilrtoy! :smile:

[switchin'addiction]

How many people in here feel that realtors offer a benefit? and how many people in here feel that worthless realtors are the desicretion of higher prices and are completely overpaid for what they do?
Looking to make friends are we??

[Hallett19]

I dont think my ENO insurance covers paper cuts, callosous or sore ass, however it does cover if I get hit by one of the many 100+ yr old female real estate agents in the parking lot on my way to my car :D
Its the risk of mis-representing someone, writing contracts wrong, there is alot involved. My partner Ralph has a client who went past her contingency period and the sellers wanted to keep her deposit money. Well, she did not want to burn 22k, but also did not want to buy the property. If this goes to court, Ralph could be out some serious money if he did anything wrong, insurance pays for that stuff. I pay over one thousand a year to insure myself as an agent (and to keep my license on the wall) :cool:
I think agents do a great service. I have seen people who try to do this themselfs pull their hair out, leaving work early to show their homes just to have somone say they dont like it and have to drive back to work, and doing this several times a day. I could not imagine how long someone could take that kind of stress before saying "we need a real estate agent" !!! I love what I do, I wish it was more consistent, but I enjoy helping people out, letting them live their lives while I handle one of the biggest investments they will make.

[Starloans]

Hey Star,
Congratulations on the purchase. I think those companies are a joke personally. Realisticly your doing half the work for half the price. I mean the seller shows the home, holds the open houses, does all the leg work, while the broker shuffles through the paperwork and however " gives a good deal". I think all these companies ( Assist - 2 - Fail and HelpUFail ) wil be a distant memory once it becomes a buyers market and agents actually have to use marketing and sales skills to sell a home.
However, good luck with everything. I am definetly a fan of success and wish you the best of luck. The surgery comment may not be 100% accurate however it does give an analogy on the whole situation.
If people knew the expences a REALTOR has it would be quite suprising. Saying as just to be titled a " REALTOR " costs quite a bit of money.
Hey BT,
Thanks for the kind words. You sound like a "traditional" Realtor. Or someone in your family is. How many time do Realtors go in to a listing appointment and the seller beats the agent up for a "discount". Almost everytime. I give em one but they have to do some of the work. They also have the option to get "full service".
It is a lot of money to be in real estate. Realtors have value.
I think fee for service Realtors will do fine. Good luck in your business. :D