Realty agents average commission for home sales heads down toward 5 percent
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Realty agents average commission for home sales heads down toward 5 percent

By jvolstad following x   2017 Jan 12, 12:18pm 1,040 views   12 comments   watch   sfw   quote     share    


https://www.yahoo.com/news/m/591f2a3f-3215-3fff-9042-53eb93f13019/realty-agents%E2%80%99-average.html

I'm waiting for 1%. That is about what your average Real Estate Salesperson is worth.

1   APOCALYPSEFUCKisShostikovitch   ignore (26)   2017 Jan 12, 2:17pm   ↑ like (0)   ↓ dislike (0)     quote      

Realtors should pay sellers for a chance to lick the windows clean and blow the buyers for tips.

Outlawing commissions on sales of RE would be a nice first step to restoring civilization.

2   zzyzzx   ignore (1)   2017 Jan 12, 2:30pm   ↑ like (1)   ↓ dislike (0)     quote      

jvolstad says

I'm waiting for 1%. That is about what your average Real Estate Salesperson is worth.

They are not worth that much!

3   Strategist   ignore (1)   2017 Jan 12, 4:19pm   ↑ like (2)   ↓ dislike (0)     quote      

$3,000 flat fee for each house is more than fair. Anything more than that is a ripoff.

4   Quigley   ignore (0)   2017 Jan 12, 4:43pm   ↑ like (0)   ↓ dislike (0)     quote      

As a data point, I sold my house this past year and our realtor (who did a great job) listed it with 5% to realtors fees.
Maybe there is something to this story.

5   Strategist   ignore (1)   2017 Jan 12, 4:50pm   ↑ like (2)   ↓ dislike (0)     quote      

Quigley says

our realtor (who did a great job)

All they do is:
Give you the bullshit
Fill out the forms
Wait for the phone to ring
Collect a big check

6   APOCALYPSEFUCKisShostikovitch   ignore (26)   2017 Jan 12, 5:23pm   ↑ like (0)   ↓ dislike (0)     quote      

Realtors flip properties between each other to pump prices, divert properties to each other and to straws to suppress prices of properties they want to buy and speculate, and help people commit mortgage fraud in collaboration with originators.

They are, per dollar amount committed, the source of most of the crime in the world.

A fee of $10 an hour is more than enough to compensate for the work that allegedly is completed with space for a tip if they don't rape or kill anyone.

7   Quigley   ignore (0)   2017 Jan 12, 6:51pm   ↑ like (0)   ↓ dislike (0)     quote      

We had to sell it fast to satisfy the contingent deal, while getting the best price to satisfy our requirements for he down, and fast is what we got. Four days on market before we entered escrow at $5k over asking. Plus she was our buyers agent with the other deal. Yep she did well for herself but kicked back a few k to us for a thank you.

8   Strategist   ignore (1)   2017 Jan 12, 6:58pm   ↑ like (2)   ↓ dislike (0)     quote      

Quigley says

We had to sell it fast to satisfy the contingent deal, while getting the best price to satisfy our requirements for he down, and fast is what we got. Four days on market before we entered escrow at $5k over asking. Plus she was our buyers agent with the other deal. Yep she did well for herself but kicked back a few k to us for a thank you.

I'm glad it worked out for you.
The key to the realtors monopoly is the MLS. In an internet age, that closely guarded information can be easily penetrated with the internet. I really don't see the value of a realtor beyond doing the paperwork.

9   Strategist   ignore (1)   2017 Jan 12, 7:23pm   ↑ like (0)   ↓ dislike (0)     quote      

Ironman says

Strategist says

The key to the realtors monopoly is the MLS. In an internet age, that closely guarded information can be easily penetrated with the internet. I really don't see the value of a realtor beyond doing the paperwork.

Exactly, the only work is getting it listed on the MLS, after that, the house sells itself.

If a prospective buyer can look in the internet and find the homes that are available for sale, the value of the realtor is greatly diminished.
It's the same when it comes to rentals. Every time i have a vacancy, I put a free advertisement on Craig List, Zillow, Trulia. It mysteriously shows up on other web sites too. And I end up getting call after call from the best potential tenants. The lease agreements are widely available on the internet. I don't need to pay a realtor one month fee for finding a tenant.
I've noticed, i can rent a condo faster than those listed on the MLS. I'm not kidding.
The realtor is soon to be commoditized. Trust me on this.

10   RC2006   ignore (0)   2017 Jan 12, 7:34pm   ↑ like (1)   ↓ dislike (0)     quote      

Its a total sham every person I know used Redfin or similar to find thier house, agents don't do shit but a few hours of work to list the house. A 3k flat fee is more than fair, and would also eliminate 95% of realitors because 3k per house would not sustain the current real estate model.

11   Strategist   ignore (1)   2017 Jan 12, 7:47pm   ↑ like (1)   ↓ dislike (0)     quote      

rpanic01 says

Its a total sham every person I know used Redfin or similar to find thier house, agents don't do shit but a few hours of work to list the house. A 3k flat fee is more than fair, and would also eliminate 95% of realitors because 3k per house would not sustain the current real estate model.

The average agent from what i remember only does 4 transactions a year. There is no way that average agent has the experience or the expertise to do an optimal job.
They spend most of their time doing nothing. A minority of the agents get all the business. The 80/20 rule...where 20% of the agents make 80% of the money.

12   Ceffer   ignore (1)   2017 Jan 12, 7:53pm   ↑ like (0)   ↓ dislike (0)     quote      

The nice thing about Realtors is that you can rely on them to be devious, scheming sociopaths even without a commission.


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