Realtor Commissions

[100%TtId]

we haven't settled this yet?

I'm shocked.

x2 I figured by page 3 we'd have at least one 40% contingency fee personal injury attorney post up about how realtors are price gougin' the poor home owners.

Funny how everyone thinks everything else is overpriced except their own stuff.

[Atfulldraw]

About 80% of them are worthless mouth breathers, and the other 20% are very professional, helpful people. Gotta find a good one.

Good luck.

seems like I've heard this 80/20 thing somewhere else....

In my industry, we say that the 20 percent of us get 80 percent of the work.

[Chance Love]

What shocks me is that the TBH realtors haven't stated what I think is the obvious elephant in the room: hardly anyone would complain about paying a great realtor, because the client is getting a better deal. The problem is that lots of realtors suck, and it's hard to know your realtor sucked until after the deal is over.

So what is the obvious elephant?...that some agents are great and actually earn their fee?

Or that most agents "suck"? Well that's no secret. And a big part of the reason I do things the way I do---because I'm bound and determined NOT to be like most agents.

[Chance Love]

Maybe you can explain to some here how long and complicated buying a property over 1 million can be

Shoot man, everyone knows it's easy, fast money! And I've had some others that make that one look like a cake walk...

[mww982]

I saw this thread when it first posted and didn't comment. My wife is a full-time realtor and I do it as a side gig and to help her out when she needs it. We pride ourselves in professionalism and making it a smooth transaction....we deal with the crazy so you don't have to. We have worked with a ton of bad agents, it makes it way more difficult on our end and sometimes do twice the work.

For teachers, police, fire, emts, nurses, and military we cut our commission when listing 25% and will rebate 25% of our commission on the buy side. This is automatic. As for everyone else, it's negotiable on what we will do. Every sale and situation is different.

[topshot]

good agents know how to sniff out a tire kicker, a bad deal before it has legs to take you down a 30-50 day road to nowhere, among many other things. I use one everytime I buy a house, the amount of time, gas, miles on their vehicle makes me feel like i'm stealing from them - even when the deal closes, especially in a sellers market. i must have looked at a hundred homes and put in over a dozen offers before i was able to close...and i wasn't being too picky, the market was a cash buyer only situation during that time...and it cost me and my realtor lots of time and gas.

selling my house, i'm happy to pay 3% to a buyers realtor, because i know what its like to search and search for a home, lots of paperwork, hours, and failed attempts. I however do not use a realtor to sell, but i do hire one to list my home on MLS for the world to see. nobody knows the difference either, i set up the appointments through a listing service and negotiate direct with the buyer realtor, and have the insider info on the home and its history.

most realtors only buy/sell 1-2 homes per year anyway...so i've heard

[mww982]

most realtors only buy/sell 1-2 homes per year anyway...so i've heard

I would agree with this, most people who get their license are no longer in the industry after the first year.

I was almost one of those. However, I stuck with it and every year my production has increased.




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[PondPopper]

good agents know how to sniff out a tire kicker, a bad deal before it has legs to take you down a 30-50 day road to nowhere, among many other things. I use one everytime I buy a house, the amount of time, gas, miles on their vehicle makes me feel like i'm stealing from them - even when the deal closes, especially in a sellers market. i must have looked at a hundred homes and put in over a dozen offers before i was able to close...and i wasn't being too picky, the market was a cash buyer only situation during that time...and it cost me and my realtor lots of time and gas.

selling my house, i'm happy to pay 3% to a buyers realtor, because i know what its like to search and search for a home, lots of paperwork, hours, and failed attempts. I however do not use a realtor to sell, but i do hire one to list my home on MLS for the world to see. nobody knows the difference either, i set up the appointments through a listing service and negotiate direct with the buyer realtor, and have the insider info on the home and its history.

most realtors only buy/sell 1-2 homes per year anyway...so i've heard

Its sad that people waste realtors time.. It happens often..
You are a smart man using a qualified realtor.....

[35remington]

So what is the obvious elephant?...that some agents are great and actually earn their fee?

Or that most agents "suck"? Well that's no secret. And a big part of the reason I do things the way I do---because I'm bound and determined NOT to be like most agents.

I probably shouldn't have said "most" agents suck. But the barrier to entry to your industry is so low that there are an unfortunate number of low-performers. Many people have had a bad experience with such an agent, and they're voicing that in this thread.

I'm glad you strive to be different.

[Throwin Darts]

I have my realtors license and just hired a realtor to sell my house. Tells you how much I want to mess with the crazies!

[waffles]

You can list it on zillow, and realtor for free, that's what I did when I sold my house, saved the commission

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[Wits_End]

MLS system and buyers not paying their own realtor fees is what keeps the racket going.

Trying to sell mine myself now but put in at tail end of summer market, recently took off to wait for spring. 3 offers so far but not exactly what I want. Nonstop realtors calling to sell it and not a single one can explain how they will do it different. One said he would start calling people, since when has anyone sold a house by calling random people. Several have said they could sell it immediately, then gave me the price which was 20k lower than offers I received, no poop sherlock. One said she could sell it, but then in same conversation said she had several just sitting.

I cant get over the ridiculous fees the seller has to pay.
Pay the flat fee to list on MLS, rent the key box, these are huge in getting looks, over time this will change, but for now it is what it is. Showing realtors dont want an ounce of hassle, so they have to have access the minute they want it Support showings, receive offer, agree on price and terms, send to title, collect your money.

Maybe they can sell in faster, but it isn't going to be for the price you want. A house will sell for the price it's worth. Unless your realtor is a contractor performing free work on your house they arnt going to add 6% to sell price.

[DFWPI]

Here is why some people shouldnuse a GOOD Realtor.

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[mpotts]

How did you get past the sticker shock of realtor commissions?

We’ve had our house up FSBO for a couple of months now and the wife is really wanting to hire a realtor. I just refuse to. We have no reason to move other than the fact we are looking for acreage. Therefore, my motivation isn’t extremely high. (I want acreage, but not for the price of Realtor commissions).

You just chalk it up and say alright, I’ll pay it, or did you just stick it out and wait for a FSBO transaction to come along?


Disclaimer: I know realtors have to make money too. I’m just opting out at the moment.

list it on Zillow or some of the other sites My Uncle and Aunt sold there house in less than two months and paid ZERO in COMMISSIONS

[Hix]

Realtor Commissions

I sold my first home on Zillow FSBO to the first offer with in a few days of listing it with cell phone pics.
Sold it for $50k more than i paid for it 7 years prior and above average for the neighborhood.

Zero commissions paid, the buyer had an agent but she found my house online herself. I refused to pay her agent to help her buy my house and i set up my on contract and closing at the local title company. I didn’t pay any closing cost either.

Stand your ground and sell what is yours.




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