Realtor Commissions

[Rcole1310]

Realtor Commissions

What gets me is the standard 6%, a realtor does nothing extra if your house is selling for 200k or 500k but gets lot more commission. It's still the same paperwork same marketing nothing different. My first wife was a realator so i do have some experience. I don't mind paying for services but why should i pay 30k in commission for not having to do anything special for it.

THIS^^^!! I’m all for folks getting paid for their good work. But I list an $800k house and have to pay $48K??? I’d like for a realtor to justify that. I’m selling one of my rental houses now for $135k and this woman is hustling for that sale. 2 to 3 showings a week. No way an agent could do much more than what she is so how can you with a straight face ask me for $48k for the same effort? There should be a cap on fees. There was a time when high end houses in my neighborhood were on the market for 60 days max. Realtors were lined up to list them for a week, do a couple of showings and then hold their hands out for a fat check. If you listed FSBO they wouldn’t even bring clients to see your property.


Sent from my iPhone using Tapatalk

[JHT]

The tip is already built into the price..

Agreed.

Wait what? Already included in the price?

Was she hot?

[ecallarman]

Wait what? Already included in the price?

Was she hot?

She gets hotter by the shot.

[JHT]

They all do....

[Lungbustr]

How about we all have a shot of whiskey. Whoever is buying be sure to leave a good 10%-20% tip.

I'm thinking we should just buy and pour our own whiskey, it will be much cheaper. Why have to pay the 10-20% to the bartender for doing something we can do?

Does the bartender pouring it raise the market value by 10-20%

[hooligan]

I'm thinking we should just buy and pour our own whiskey, it will be much cheaper. Why have to pay the 10-20% to the bartender for doing something we can do?

Does the bartender pouring it raise the market value by 10-20%

I'll pour for you for a flat fee


But to be fair they do have to have a TABC license so it's a special job

[N.DaWoods]

For sale by owner. Really easy if you have a good market. We did it no problem.

[tigerscowboy]

Ask yourself...

If all realtors are getting as rich, printing money, and as easy as some believe...why isn't there a long line to go out there and be a realtor?

[RiverRat1]

Ask yourself...

If all realtors are getting as rich, printing money, and as easy as some believe...why isn't there a long line to go out there and be a realtor?

There actually was. And there are a ton of realtors. Which is why so many people keep saying to hire a good one.


And I thought when you sold a truck you wrote "4 sell" in the window

[tigerscowboy]

There actually was. And there are a ton of realtors. Which is why so many people keep saying to hire a good one.


And I thought when you sold a truck you wrote "4 sell" in the window

The only way to make a lot of money as a realtor is to work, work, work.

That includes weekends. All of them.

[JHT]

The only way to make a lot of money as a realtor is to work, work, work.

That includes weekends. All of them.

Then play golf all week on empty courses for cheap fees.

[Birddog66]

The only way to make a lot of money as a realtor is to work, work, work.

That includes weekends. All of them.

This right here^^^^^^^^^

[CaptainDave]

There actually was. And there are a ton of realtors. Which is why so many people keep saying to hire a good one.


And I thought when you sold a truck you wrote "4 sell" in the window

There are a lot of realtors out there from time to time, due to the fairly low barriers to entering the profession. Many people try and jump on the train in a hot market; which is never sustainable in the long run.

With that comes massive turnover. Something like 75% of all new realtors leave the business within 2 years. That's why it's important to find a good one. There's too many fly by night ones that come and go.

The good ones that make it for the long haul either have well established networks or have a 2nd job to fall back on during market down turns.

I'm not a realtor. I wouldn't want to be one. Too many ups and downs. Not to mention, you are always on call and picking up the phone is essential. It's not that you are working 24/7; it's that you may have to head out or take care of something at the drop of a hat, no matter what time or day of the week it is. Closing deals is what gets you paid and if that means taking care of something when it's good for your customer as compared to your schedule, so be it. And yes, most folks like to look at homes when not at work, so that means a lot showings after hours or on weekends. Some folks like working like that, others not so much.

[RR 314]

The only way to make a lot of money as a realtor is to work, work, work.

That includes weekends. All of them.

Absolutely untrue. That is like asserting the only way to make a lot of money as a lawyer is to work, work work. I know lawyers and realtors who screw around on websites all day and make a heck of a living. If you specialize in luxury real estate, for example, you can do well without the requirement to work all the time. Same thing with lawyers, consultants etc. who have fine tuned their practice. I have a friend who has a full time job and assists buyers on a (very) part time basis. SHE HAS NEVER WORKED AS A FULL TIME REALTOR/BROKER. In fact, she has never had an office, or advertised her services--merely works for friends/referrals. She likes staying current on the market and enjoys the poker game. She helped us buy a couple properties and even listed a few, for 1% on her side, and averages 15-25MM in purchase prices (aggregate) for her buyer's per year. She makes $400K-800K a year mostly assisting friends/buyers and estimates she spends ten hours a week doing so in a very small geographical area. She also is routinely shocked about how poor many seller's agents are and how little they do for their commission (in the luxury market). She is genuine and is even more shocked at how little she does for her commission!

If you are dealing with volume and low dollar amounts you certainly need to hustle to scratch out a living. However, there are plenty of people out there enjoying a very nice work/life/leisure balance 3% per transaction.

[RiverRat1]

Absolutely untrue. That is like asserting the only way to make a lot of money as a lawyer is to work, work work. I know lawyers and realtors who screw around on websites all day and make a heck of a living. If you specialize in luxury real estate, for example, you can do well without the requirement to work all the time. Same thing with lawyers, consultants etc. who have fine tuned their practice. I have a friend who has a full time job and assists buyers on a (very) part time basis. SHE HAS NEVER WORKED AS A FULL TIME REALTOR/BROKER. In fact, she has never had an office, or advertised her services--merely works for friends/referrals. She likes staying current on the market and enjoys the poker game. She helped us buy a couple properties and even listed a few, for 1% on her side, and averages 15-25MM in purchase prices (aggregate) for her buyer's per year. She makes $400K-800K a year mostly assisting friends/buyers and estimates she spends ten hours a week doing so in a very small geographical area. She also is routinely shocked about how poor many seller's agents are and how little they do for their commission (in the luxury market). She is genuine and is even more shocked at how little she does for her commission!

If you are dealing with volume and low dollar amounts you certainly need to hustle to scratch out a living. However, there are plenty of people out there enjoying a very nice work/life/leisure balance 3% per transaction.

Sounds like an infomercial.

If she makes 400-800k working 10 hours per week doing something she enjoys what the heck does she make at her real job?