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FollowBefriend21 threads4,670 comments
So my question is, do all real estate agents have to sign some sort of non-competing clause in order to hold their own unfair market up?
If one had such info and presented as evidence to say the FTC, it would certainly break the oligopolies that exist. Such agreements may not be written but oral amoung agents.
FollowBefriend10 threads213 comments Pasadena, CA
Redfin is as good as it gets right now for "near self serve" clients like yourself.
As you found out, most FSBO listings are looney sellers who have such unrealistic expectations that no listing agent will even bother wasting their time with them.
5% split commission is fair for most of the country where median homes cost less than $200k, but it's ridiculous for an $1 million 2,000 sq foot ranch-style home in a desirable California neighborhood. It takes the same amount of work to sell either one.
A Broker here...
there are plenty of alternatives out there. Help-U-Sell is the cheapest out there, I think, but you really don't get much help. If you can do it on your own...they're for you.
I started a company on the Peninsula, @listings, that offers 50% rebates to buyers and a flat-fee structure for sellers...all in all, everyone saves about half off commissions.
There are plenty of other companies that offers reduced commissions, 1% listing side commissions, etc. They just don't get a lot of publicity. Because agents for larger companies like Coldwell banker hate them.
FollowBefriend (13)123 threads4,445 comments
Here is a short version of house buying in 3 steps:
- from county clerk get a list of foreclosures [houses in default, and date of auction - its public record]
- research which property you like.
- show up at the public auction and bid.
This is big business apparently.
FollowBefriend (2)68 threads876 comments
Do what I did. Get an RE license. It's not hard at all. Even a middle school drop out can do it. As long as you are literate.
Go look at homes yourself, and make offers yourself and save yourself the commission. You'll also bump into a few people trying to piggy back into the home you're trying to look at. Then they'll also ask you to make an offer for them. If you're lucky, some will bid high and beat out the others.