the need(?) for a real estate agent?

[lala9999]

I find it telling that those investors with the most experience tend to be the ones who listen best. They're open to knew ideas and leave their egos at home, preferring to make money instead.


The difference between yesterday's investors and today's is in the lastest episode of Property Ladder. I swear I think I saw three of my clients on the show last week.  :-[

That's why I don't negotiate my commission.

[scoathy]

BTW - if you do a 'spell check' of "irregardless" you will find that it is not really a word (one of my wife's pet peeves!)!  

Funny you mentioned that...I was typing up a paper this week and used that word (non-word) in a nutshell if you just say "regardless" you are saying pretty much the same thing...

found this for those interested...

—Usage note Irregardless is considered nonstandard because of the two negative elements ir- and -less. It was probably formed on the analogy of such words as irrespective, irrelevant, and irreparable. Those who use it, including on occasion educated speakers, may do so from a desire to add emphasis. Irregardless first appeared in the early 20th century and was perhaps popularized by its use in a comic radio program of the 1930s.

now back to who pays...already in progress...

[reoconsultants]

This topic again??  INFOWELL WAS RIGHT....

I live in Bailey Colorado. And had a Realtor BEG me to list my house for 1.4% and after her begging for 3 months I decided to let her. Here is the catch NOTHING is moving here and I mean NOTHING. So I told her that if I sell it on my own she gets nothing. She asked my asking price so I told her $398k Now if I did not have her I would sell it for $380k That way I break even. right at the 380k that I want. So that being said if the seller was to knock on my door I would sell it to him for 18k less. So the SELLER pays the Realtor the Buyer just pays a higher price to have them show the house and write out a contract.

P.S. I have a offer on my house with out the Realtor right now for $380k

[Infowell]

"Here is the catch NOTHING is moving here and I mean NOTHING."

I'm getting a better & better feel for why you've such a low opinion of real estate agents...you evidently work with the wrong ones.

An Agent willing to list @ 1.4% has got to be desperate. Even discount brokers know they'll have to offer MUCH more than that to attract Selling Agents.

We don't want to be working with desperate Agents (there's a reason they're desperate), and if you're willing to do all the work yourself & take all the risks (which are substantial)...who needs an agent at all?

80% of Agents DO NOT manage to recertify at the end of their two year renewal period. Of the remaining 20%...only an estimated 19% make enough to feed a family.

It's a very small percentage of Agents indeed, that manage to make a lucrative living, and there's a very good reason for that (brains & staying power).

Those are the Agents one should strive to work with. But sadly...if you bring an attitude...they won't give you the time of day (they can pick and choose & don't need walking migraines waiting to happen).

-Infowell

P.S. The market here leads the country. We have 5 of the top 10 appreciating markets nationwide & 10 of the top 15.

[Infowell]

"That's why I don't negotiate my commission."

There's absolutely NO reason for a successful, proven Agent to lower their commission...especially for problamatic, adversarial people.

I lower my commission for family, friends, or repeat customers who appreciate my expertise.

-Infowell

[bubbarobertson]

An example of how the seller pays the commision.

In new construction often a builder will contract with an agent(Listing Agent) to handle the actual sale of the properties. The listing agent contracts for a certain percentage we'll say 3% for the sake of the example. Now if a buyer is unrepresented( no agent) purchases a house the listing agent is still paid the 3%. If a buyer is represented( has an agent) the purchase price is still the same and both the buyers rep. and the builders rep recieve the 3% commission. The purchase price did not change and yet both agents were paid a commission. Where did the extra 3% buyers commission come from. Did the buyer pay for it? The commission is paid for by the seller. This concept is not hard to grasp. It is people that want to over analyse something that is simple.
I have never heard of any agent inflating the purchase price to cover the 6% commission, or any seller for that matter. If you know of any agent doing that I would seriously question their ethics. In fact in my company we encourage our sellers to price on the low to mid range of their market, very seldom at the high end.