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follow Strategist 2018 Jan 10, 8:20am
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Despite strong numbers, there are actually very few buyers who can qualify for $750K loans, especially in the pricier areas. The feedback I got was that in San Diego, those markets are flat and starting to drop. In another post, I made the observation of houses in foreclosure for just a little more than I priced my house for.
And this is different from Redfin how?
3% buyer side
This is the problem. Why the fuck should you pay someone that is technically trying to screw you and get their client a cheap place? Whether you're using a flat fee broker or Bob from Remax down the street. This has always made zero sense to me and I'm kind of in the industry. Buyer brokers have zero skill at anything in almost 95% of the cases. They fucking schedule it and open the door. That's it.
Flat fee agents have been around as long as I remember. I sold my house in 2006 for $400 seller side and 3% buyer side.Def the way to go if you're listing a home.
Buyer brokers have zero skill at anything in almost 95% of the cases. They fucking schedule it and open the door. That's it.
Listing agents to some extent have some value.
pass around contracts and some other stuff
Both are skimming money off while adding very little value to the transaction.
Both are skimming money off while adding NO value to the transaction.
The buyer's agent work for you (the seller).
Otherwise, you can put an ad in the paper for a few bucks.
I suppose options 1 or 2 are worth about 2%, right?
Booger saysBoth are skimming money off while adding NO value to the transaction.Generally agree with this. Most service businesses are this way though. They just try and get your business/money and that's it. The actual service is at the bottom of the list for them, so it's not real estate exclusive. Brokers just get a massive percentage (as a dollar amount) of one of the biggest purchases/sales you'll ever complete in your lifetime. Out of the two evils, a listing agent has more value for any money you may pay them if you ask me. That's all I'm getting at. Not saying it's a necessary evil. Knowing what I now know, I'd never enlist the services of a buyer agent. I'll call the listing agent directly on my own and get into the property. Buyer agents are not needed and seller's should stop paying them today.
WookieMan saysListing agents to some extent have some value.How so, what do they do to earn their commission?
Sniper saysWookieMan saysListing agents to some extent have some value.How so, what do they do to earn their commission?All they do is put it on the MLS and wait for the phone to ring. Here are a couple of quotes I have heard over the years:"When you put it on the MLS, it sells itself""I will never allow another agent to sell my listing"
A buyers agent really does nothing except act as a chauffeur.
In each of the cases the consumer was left better off. Real Estate with it's ridiculous commissions has been surprisingly resilient to change, though it's just a matter of time before they join the cemetery of the travel agents.
Strategist saysIn each of the cases the consumer was left better off. Real Estate with it's ridiculous commissions has been surprisingly resilient to change, though it's just a matter of time before they join the cemetery of the travel agents.When though? I want it to happen sooner then later. I'm just not seeing it right now. The achilles heal of the real estate brokerage industry is the buyer agent. You eliminate that and it starts to crumble and quickly. Until that happens, brokers will be your best friend ;)
EASY. Give buyer 1.5% discount if they drop their agent.