Real estate commissions: This may be the end to them as we know them
mxk3 z5b_MI
2 months ago
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Lars
2 months agobb_capecod
2 months agoRelated Discussions
Do you know anything about real estate staging courses?
Comments (15)Several years ago I took a four-class staging course at the local community college. The person who taught the class had her own business staging and was teaching this class for folks interested in selling their own houses, I believe. The course probably did not teach me anything I couldn't have learned by reading books, watching HGTV, etc., but I consider it worthwhile anyway because it was really fun. An added bonus was that some specific ideas did stick in my mind so that when I ended up having to sell in a hurry, I could. The teacher had a certification through one of the organizations that offers the more costly courses for professionals---so if you were to take a course, teaching DIY folks in classes like the one I took might be another source of income :)...See Moreshould we have a real estate agent look at our house?
Comments (3)My neighbor/realtor was of great value to us as we remodeled. I wanted to put tile in kitchen and a rear hall and bathroom. She said we'd never get the money back in our neighborhood. (The vinyl ended up looking great.) We hadn't really planned to sell at that point, but took her advice. Smart realtors LOVE to be asked questions. They hope you will remember them when you do decide to sell -- or recommend them to friends. As things turned out, we got top dollar (record for our neighborhood) when we sold, and the buyers...did a teardown!...See MoreReal Estate Commissions Increasing
Comments (25)SD’s posted article was stating the fact the average commission paid has increased over the years when most expected with the advent of the internet it would decrease. I do find this fact curious, good for the RE industry, bad for consumers. The internet has radically changed RE, but not the RE commission as was expected. The internet has helped me tremendously, I’ve found many houses online, perused the listing, seen aerial views. I can also see the listing history, what the seller paid and view previous listing pictures to see improvements, all done from the comfort of my desk. Right now I’m considering buying in an area that I hadn’t thought of, but searching on redfin showed me additional areas with the house size and lot size I want. I need the agent to get me in the door once, negotiate the offer and bring it to closing. I never tour around in the car with an agent, hate that. I don’t begrudge any agent whatever commission he can earn as it takes a person hiring that agent for him to earn his commission I respect many realtors, I know many are professional, earning their high income. Right now I’m interviewing listing agents, the agents have not agreed to list for less than 5%, even though he will earn about $200,000 in commission. If I find this the going rate I’ll gladly pay it to the right agent as I want a quality agent. I’ve known I’d be listing so I’ve closely watched several of the local agents learning who I want to interview. I’m aware I can use redfin or another discount company, that doesn’t interest me as I want the service of a knowledgeable full service agent. For that matter I can list FSBO, again doing this is not in my best interest. Palimpsest – you appear to be emotionally connected to the profession – commissions can be discussed and defended without making negative comparisons to other professions. Also an experienced agent learns when to cut a client loose. If a buyer is wasting an agent’s time, or a seller has unrealistic expectations it’s time to move on to another client, knowing when to do this is a part of successful agent’s learned skills....See MoreDo real estate agents get commission for buying homes for themselves?
Comments (28)I sold my house to an agent and here’s what happened. We went into escrow and she asked for a reduction in the price by 2.5% instead of being paid a commission from my realtor. It was the same out of my pocket so I did it. The realtor then didn’t have to pay a broker fee because she is representing herself in the deal and she didn’t pay taxes on the commission because she didn’t earn one. I could have said no, then she would’ve taken her commission, paid her broker and paid her taxes. In retrospect, I should not have dropped the price the entire 2.5%, only an estimation of what she would net in the deal. So realtor buyers do have an advantage in any deal!!! All these realtors don’t want to admit it on this thread. “Why should her job matter” bc a realtor can manipulate the system. And this is exactly why NAR and Keller Williams lost a class action lawsuit recently - requiring that sellers pay a buyers agent. It inflates home prices and allows realtors to get personal advantages. Things will be changing. https://www.cbsnews.com/amp/news/nar-lawsuit-verdict-real-estate-agent-commissions/...See Moremxk3 z5b_MI
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2 months agoElmer J Fudd
2 months agoLars
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2 months agoToronto Veterinarian
2 months agolast modified: 2 months agomxk3 z5b_MI
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2 months agoToronto Veterinarian
2 months agoElmer J Fudd
2 months agoArchitectrunnerguy
2 months agoElmer J Fudd
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