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About Me
.... When I was a kid growing up I can remember being with my great Grand Daddy many times, I can remember running up and down the long hallways of his house and how much fun it was for me as a kid ...
He explained to me that he didn't own the building .. and no, he didn't even own those long hallways I thought were so much fun because he shared it with everyone else .. it just wasn't his house and he had to pay "rent" every month to live there -- when you're only 7, it just doesn't "click" ...
- But the one thing that did "click" when I got older, was a statement he once made:
**.. rent is the penalty you pay for not owning your own home ..**
So I studied the market and looked and listened and spent hours in the court house pulling records...
I would drive around neighborhoods seeing how different streets affected prices, how intersections changed time frames and markets .. distance of schools, zip codes and how colors of houses, different seasons and the number of children and size effected resale ... I would knock sellers doors and just ask them questions, and most of the time they'll tell you "everything" ..
When my buddies and I were watching football games on a Sunday I would sometimes leave at halftime and drive the snowy streets of Cleveland and check-out an open house or two and listen to the clatter of conversations and how different agents would promote, push and prod their product.
I also learned quickly how most folks bought houses -- and how most folks got $old houses with false stories, low tones and high prices ... I also made it a point to know every lender in the area so I wouldn't have to depend on a realtors lender -- this way I saved thousands in closing costs and even more on rate.
The 2 most important items when buying or selling real estate - accurate information and patience .... do your research, do your homework ..
Educate yourself .. taking a very basic community course is an excellent start .. buying real estate isn't rocket science, it's not a mystery, it's only mystical to small children .. but it will be a "very expensive mistake" if you don't spend time and do quality research ..
The more a savvy consumer knows, the less opportunity a realtor has to take advantage of any situations - and the more they will save.
Keep in mind, agents are on a straight commission .... You as the buyer.? you're on adrenalin, emotion and a far flung roller coaster ride that will cost you thousands more if you're not doing your homework 3 or 4 months in advance.
In 1979 I purchased my first home for the unheard of price of $64,500 and then sold it 4 years later for a fair amount, then I knew it was easy -- and the local agent called it "dumb luck" ...
Since then, many things have changed ... we lived in Florida for 20 years, I got lucky and was able to buy my own boat dealership instead of being an employee of one .. I also bought and sold 39 homes there, and then bought, developed and sold 4 separate condominium complexes in three different parts of the Sunshine State ..
In the late 1990's and things were rolling along, there came a feeling that the Carolinas were awakening ...
I bought and sold 12 properties and 7 homes there .. and last year, a 97 acre track that I bought and developed with some guy named Gary Player, which was wonderful because I'm an avid golfer - I play to an 8 handicap and I get to play almost everyday ..
So I know about builders, contractors, agents, brokers and their attitudes and their ways - good and bad ... unfortunately for the consumer, mostly bad .. it's a commission driven business, not a social event.
Since then I've become a consumer advocate .. especially now, after watching many hard working people get sold a bill of goods, instead of a bright future..
-- Getting information from a realtor doesn't always make it "good" information or accurate (or honest) .. and in some situations, they're not even close ... remember, they want the quickest direction between point "A" and point "B" - you just happen to be in the middle.. so be aware.
Always do your research before interviewing your next agent(s), you'd be surprised .. you probably know more about the market then the agent .. especially nowadays.
That all said... I'll never forget what my great Grand Daddy said many years ago:
**.. rent is the penalty you pay for not owning your own home ..**
Well I never did, and either did he .. after I sold the second house in Florida, I bought him his own.
- and the local realtor called that "dumb luck" too. ;^)
-
He explained to me that he didn't own the building .. and no, he didn't even own those long hallways I thought were so much fun because he shared it with everyone else .. it just wasn't his house and he had to pay "rent" every month to live there -- when you're only 7, it just doesn't "click" ...
- But the one thing that did "click" when I got older, was a statement he once made:
**.. rent is the penalty you pay for not owning your own home ..**
So I studied the market and looked and listened and spent hours in the court house pulling records...
I would drive around neighborhoods seeing how different streets affected prices, how intersections changed time frames and markets .. distance of schools, zip codes and how colors of houses, different seasons and the number of children and size effected resale ... I would knock sellers doors and just ask them questions, and most of the time they'll tell you "everything" ..
When my buddies and I were watching football games on a Sunday I would sometimes leave at halftime and drive the snowy streets of Cleveland and check-out an open house or two and listen to the clatter of conversations and how different agents would promote, push and prod their product.
I also learned quickly how most folks bought houses -- and how most folks got $old houses with false stories, low tones and high prices ... I also made it a point to know every lender in the area so I wouldn't have to depend on a realtors lender -- this way I saved thousands in closing costs and even more on rate.
The 2 most important items when buying or selling real estate - accurate information and patience .... do your research, do your homework ..
Educate yourself .. taking a very basic community course is an excellent start .. buying real estate isn't rocket science, it's not a mystery, it's only mystical to small children .. but it will be a "very expensive mistake" if you don't spend time and do quality research ..
The more a savvy consumer knows, the less opportunity a realtor has to take advantage of any situations - and the more they will save.
Keep in mind, agents are on a straight commission .... You as the buyer.? you're on adrenalin, emotion and a far flung roller coaster ride that will cost you thousands more if you're not doing your homework 3 or 4 months in advance.
In 1979 I purchased my first home for the unheard of price of $64,500 and then sold it 4 years later for a fair amount, then I knew it was easy -- and the local agent called it "dumb luck" ...
Since then, many things have changed ... we lived in Florida for 20 years, I got lucky and was able to buy my own boat dealership instead of being an employee of one .. I also bought and sold 39 homes there, and then bought, developed and sold 4 separate condominium complexes in three different parts of the Sunshine State ..
In the late 1990's and things were rolling along, there came a feeling that the Carolinas were awakening ...
I bought and sold 12 properties and 7 homes there .. and last year, a 97 acre track that I bought and developed with some guy named Gary Player, which was wonderful because I'm an avid golfer - I play to an 8 handicap and I get to play almost everyday ..
So I know about builders, contractors, agents, brokers and their attitudes and their ways - good and bad ... unfortunately for the consumer, mostly bad .. it's a commission driven business, not a social event.
Since then I've become a consumer advocate .. especially now, after watching many hard working people get sold a bill of goods, instead of a bright future..
-- Getting information from a realtor doesn't always make it "good" information or accurate (or honest) .. and in some situations, they're not even close ... remember, they want the quickest direction between point "A" and point "B" - you just happen to be in the middle.. so be aware.
Always do your research before interviewing your next agent(s), you'd be surprised .. you probably know more about the market then the agent .. especially nowadays.
That all said... I'll never forget what my great Grand Daddy said many years ago:
**.. rent is the penalty you pay for not owning your own home ..**
Well I never did, and either did he .. after I sold the second house in Florida, I bought him his own.
- and the local realtor called that "dumb luck" too. ;^)
-
My Q&A
View all >>
Tman's Questions (1)
Tman's Answers (387)
Tman answered:
Good posts Laurie,
Don't let Patrick bother you ... he's just upset because thousands of folks are very successful without any of his help...
-
Don't let Patrick bother you ... he's just upset because thousands of folks are very successful without any of his help...
-
--->>> OK to violate confidentiality (they've told you too much not to have an agency disclosure signed- even without- it's THEIR situation, and my impression, likely COMPLETELY WRONG, is that the husband is a bit of a dope. Until I re-read the response).
THAT'S the person that I want conducting real estate for me, you know- the one that adheres to a Realtor "code of ethics"?? --- >>>
Bingo..!
THAT'S the person that I want conducting real estate for me, you know- the one that adheres to a Realtor "code of ethics"?? --- >>>
Bingo..!
Meg,
Those agents who make the change in the next 25/35 months will survive .. those who don't will become a faint history of days gone by:
-- Study Offers Provocative Comparison of Selling a Home --
http://www.northwestern.edu/newscenter/stories/2007/06/fsbo.html
EVANSTON, Ill. --- A provocative new study shows that sellers who joined a for-sale-by-owner (FSBO) Web site got at least as much for their homes as sellers who did their real estate business through the use of an agent and the Multiple Listing Service (MLS). Houses sold through the MLS were more likely to sell faster.
-- The recent study shows that the FSBO sellers ended up with a significantly enhanced net sale price because they didn't have to pay the brokerage commission that real estate agents charge sellers, generally six percent of a house's sale price -- $12,000 for a $200,000 home.
-- There was no gain in price in selling a home through MLS vs. by owner, at least when it comes to Madison, Wis., during the relatively strong housing market in the period analyzed, the study concludes. (Though the research suggests national implications, the findings, at this point, cannot be generalized beyond the specific Madison housing market.)
-- While the MLS does not deliver a higher price, it does offer a higher probability of a quick sale, within 60 or 90 days. In addition, roughly 20 percent of FSBO listings end up re-listing in the MLS, which translates into a longer time on the market, roughly 68 more days. Thus, one of the advantages of MLS is a shorter time to sale, which translates into savings (on mortgage, taxes and insurance).
“For most people, the sale of a home is the largest financial transaction of their lives, and, accordingly, the question of whether or not to use a realtor is of great concern,” said Igal Hendel, professor of economics at Northwestern University.
http://www.northwestern.edu/newscenter/stories/2007/06/fsbo.html
But the realtor cost is significant, compared, for example, with using FSBOMadison.com, which charges $150 for its no-frills services and listings for six months.
Hendel, Nevo and François Ortalo-Magné, Robert E. Wangard Chair in Real Estate, University of Wisconsin-Madison, are co-investigators of the study and co-authors of the paper, titled “The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com.”
-- The study was made possible because of rich data provided by the South Central Wisconsin Realtors Association and FSBOMadison.com, as well as data from the City of Madison and Dane County. The merging of these data sets provided a complete history of events that occurred for virtually every single family home listed in Madison between January 1998 and December 2004.
FSBOMadison.com started in 1998, and by 2004 it had a 25 percent share of Madison's listings, by attracting listings from both the MLS and from other more traditional for-sale-by-owner channels.
-- The data offer an unparalleled opportunity to compare outcomes for selling a home by owner vs. through a real estate agent and the MLS. The outcomes compared include price, time on market and probability of sale within a given period after initial listing.
In computing the differences across platforms, the study controls for changes in market conditions over time, differences in house characteristics, differences across neighborhoods (FSBO is much more popular in some areas) and differences across sellers.
-- The research suggests that some sellers seem to be better at getting a favorable price. They might be better at marketing and bargaining or are more patient; they also are more likely to choose to use FSBO.
“Sellers in Madison appear to sort themselves as expected across platforms, the more patient and astute ones going to FSBO, and those who need more help or a quick transaction going to MLS,” said Ortalo-Magné.
“Our results are good news for buyers,” he said. “The price buyers pay appears to be driven entirely by the characteristics of the property and of the seller. Whether the property is sold through FSBOMadison.com or a realtor appears to make little difference in terms of purchase price.”
“Realtors undoubtedly can provide value to sellers,” Nevo concluded. “But our research shows that for-sale-by-owner Web sites increasingly are making selling your own home more appealing and offering a viable alternative to realtors.”
View the full study: “The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com.” (PDF)
Those agents who make the change in the next 25/35 months will survive .. those who don't will become a faint history of days gone by:
-- Study Offers Provocative Comparison of Selling a Home --
http://www.northwestern.edu/newscenter/stories/2007/06/fsbo.html
EVANSTON, Ill. --- A provocative new study shows that sellers who joined a for-sale-by-owner (FSBO) Web site got at least as much for their homes as sellers who did their real estate business through the use of an agent and the Multiple Listing Service (MLS). Houses sold through the MLS were more likely to sell faster.
-- The recent study shows that the FSBO sellers ended up with a significantly enhanced net sale price because they didn't have to pay the brokerage commission that real estate agents charge sellers, generally six percent of a house's sale price -- $12,000 for a $200,000 home.
-- There was no gain in price in selling a home through MLS vs. by owner, at least when it comes to Madison, Wis., during the relatively strong housing market in the period analyzed, the study concludes. (Though the research suggests national implications, the findings, at this point, cannot be generalized beyond the specific Madison housing market.)
-- While the MLS does not deliver a higher price, it does offer a higher probability of a quick sale, within 60 or 90 days. In addition, roughly 20 percent of FSBO listings end up re-listing in the MLS, which translates into a longer time on the market, roughly 68 more days. Thus, one of the advantages of MLS is a shorter time to sale, which translates into savings (on mortgage, taxes and insurance).
“For most people, the sale of a home is the largest financial transaction of their lives, and, accordingly, the question of whether or not to use a realtor is of great concern,” said Igal Hendel, professor of economics at Northwestern University.
http://www.northwestern.edu/newscenter/stories/2007/06/fsbo.html
But the realtor cost is significant, compared, for example, with using FSBOMadison.com, which charges $150 for its no-frills services and listings for six months.
Hendel, Nevo and François Ortalo-Magné, Robert E. Wangard Chair in Real Estate, University of Wisconsin-Madison, are co-investigators of the study and co-authors of the paper, titled “The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com.”
-- The study was made possible because of rich data provided by the South Central Wisconsin Realtors Association and FSBOMadison.com, as well as data from the City of Madison and Dane County. The merging of these data sets provided a complete history of events that occurred for virtually every single family home listed in Madison between January 1998 and December 2004.
FSBOMadison.com started in 1998, and by 2004 it had a 25 percent share of Madison's listings, by attracting listings from both the MLS and from other more traditional for-sale-by-owner channels.
-- The data offer an unparalleled opportunity to compare outcomes for selling a home by owner vs. through a real estate agent and the MLS. The outcomes compared include price, time on market and probability of sale within a given period after initial listing.
In computing the differences across platforms, the study controls for changes in market conditions over time, differences in house characteristics, differences across neighborhoods (FSBO is much more popular in some areas) and differences across sellers.
-- The research suggests that some sellers seem to be better at getting a favorable price. They might be better at marketing and bargaining or are more patient; they also are more likely to choose to use FSBO.
“Sellers in Madison appear to sort themselves as expected across platforms, the more patient and astute ones going to FSBO, and those who need more help or a quick transaction going to MLS,” said Ortalo-Magné.
“Our results are good news for buyers,” he said. “The price buyers pay appears to be driven entirely by the characteristics of the property and of the seller. Whether the property is sold through FSBOMadison.com or a realtor appears to make little difference in terms of purchase price.”
“Realtors undoubtedly can provide value to sellers,” Nevo concluded. “But our research shows that for-sale-by-owner Web sites increasingly are making selling your own home more appealing and offering a viable alternative to realtors.”
View the full study: “The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com.” (PDF)
---- Realtors Actually Losing Ground to FSBO and Alternative Real Estate Models..
http://www.forsalebyownercenter.com/blog/2007/01/realtors-ac…
The NAR is often quoted as stating the FSBO's are going down and losing market share but the reality, is that they are really gaining a huge market share.
Many realtors will quote the 2006 (NAR) Home Buyer and Seller Survey there is a downtrend in For Sale by Owner transactions but you must actually read the report to quote it properly.
Here are the favorite facts of the NAR report:
"We find that the level of for-sale-by-owners is on a sustained decline and is now at a record low..."
- 12% of real estate transactions were FSBO in 2006 (down 1% from previous year)
- 13% in 2005.
- The record high was 20% in 1987
- the cyclical peak of 18% in 1997.
But, what they've conviently leave out:
- 12% sellers successfully completed FSBO transactions - (proudly made public)
- 8% sellers successfully used minimal "MLS only" listing (this is really just a FSBO who paid $300 to get it on the MLS) - not shown in press release.
- 9% of sellers used a "limited service agent" i.e. alternative, discount, ala carte... call it what you want, it's not a traditional agent and not a traditional commission. - not shown in press release.
So when you do the math, that is 29% of the estimated 6,180,000 real estate transactions where NOT completed by a full service 6% agent.
Lets see...
- 29% of 6,180,000 is 1,792,200 transactions.
Now to me that seems like a SIGNIFICANT increase alternative / fsbo real estate transactions from the often quoted 20% high of 1987 when only a total of 3,526,000 transactions were done.
- 20% "all time high" of 3,526,000 is 705,200 "FSBO / alternative" transactions.
Maybe it's just me but **1 million MORE transactions** seem like an increase?
-
http://www.forsalebyownercenter.com/blog/2007/01/realtors-ac…
The NAR is often quoted as stating the FSBO's are going down and losing market share but the reality, is that they are really gaining a huge market share.
Many realtors will quote the 2006 (NAR) Home Buyer and Seller Survey there is a downtrend in For Sale by Owner transactions but you must actually read the report to quote it properly.
Here are the favorite facts of the NAR report:
"We find that the level of for-sale-by-owners is on a sustained decline and is now at a record low..."
- 12% of real estate transactions were FSBO in 2006 (down 1% from previous year)
- 13% in 2005.
- The record high was 20% in 1987
- the cyclical peak of 18% in 1997.
But, what they've conviently leave out:
- 12% sellers successfully completed FSBO transactions - (proudly made public)
- 8% sellers successfully used minimal "MLS only" listing (this is really just a FSBO who paid $300 to get it on the MLS) - not shown in press release.
- 9% of sellers used a "limited service agent" i.e. alternative, discount, ala carte... call it what you want, it's not a traditional agent and not a traditional commission. - not shown in press release.
So when you do the math, that is 29% of the estimated 6,180,000 real estate transactions where NOT completed by a full service 6% agent.
Lets see...
- 29% of 6,180,000 is 1,792,200 transactions.
Now to me that seems like a SIGNIFICANT increase alternative / fsbo real estate transactions from the often quoted 20% high of 1987 when only a total of 3,526,000 transactions were done.
- 20% "all time high" of 3,526,000 is 705,200 "FSBO / alternative" transactions.
Maybe it's just me but **1 million MORE transactions** seem like an increase?
-
Excellent post Laurie, again thank you for your honesty....
--->>> To expect, with the availability of just about everything that a consumer needs at their fingertips, to maintain a "we're worth it" position without exploring the common sense of buyers and their growing concern that we are getting paid too much is a stalwart position that further deteriorates the limited credibility that Long Island Realtors "enjoy" with the public.
Buying and selling houses isn't about commission, it's about a huge consumer investment that is undergoing a change that some of us are willing to look at, and work with.
--->>> To expect, with the availability of just about everything that a consumer needs at their fingertips, to maintain a "we're worth it" position without exploring the common sense of buyers and their growing concern that we are getting paid too much is a stalwart position that further deteriorates the limited credibility that Long Island Realtors "enjoy" with the public.
Buying and selling houses isn't about commission, it's about a huge consumer investment that is undergoing a change that some of us are willing to look at, and work with.
Thanks for being honest Laurie:
->>>For heaven's sake, it's a fair question. If real estate agents aren't viewing it as such, they are going to find themselves replaced by lawyers (let them do the "fee" battle). Either the RE contingent improves in all areas, adapting and being flexible, or consumers will eliminate them. Those that don't adapt will become extinct- leaving the creme de la creme (not a bad outcome).
.. honesty is the residual of hard work..
-
->>>For heaven's sake, it's a fair question. If real estate agents aren't viewing it as such, they are going to find themselves replaced by lawyers (let them do the "fee" battle). Either the RE contingent improves in all areas, adapting and being flexible, or consumers will eliminate them. Those that don't adapt will become extinct- leaving the creme de la creme (not a bad outcome).
.. honesty is the residual of hard work..
-
I happen to get 6%
I give
I am
I accept
I
I
I
You've used the letter "I" so many times, that one might think you're the poster child for Lasik surgery...
Bragging about getting 6% in this market is much like the car dealer bragging about getting full price for a giant SUV that gets 10 miles to the gallon ... it's few and far between and it's future is less than dim.
-
I give
I am
I accept
I
I
I
You've used the letter "I" so many times, that one might think you're the poster child for Lasik surgery...
Bragging about getting 6% in this market is much like the car dealer bragging about getting full price for a giant SUV that gets 10 miles to the gallon ... it's few and far between and it's future is less than dim.
-
A superb written article, by realtors for realtors ....
-- “This Is Customer Money“
"“Every paycheck, for every employee, from the busboy to the chef, from the picker to the packer, from the trainee to the CEO, must literally or figuratively be stamped: THIS IS CUSTOMER MONEY!”
http://www.realestateradiousa.com/blog/2008/06/02/11520/
Read it and enjoy it.... it's a great article.
-
-- “This Is Customer Money“
"“Every paycheck, for every employee, from the busboy to the chef, from the picker to the packer, from the trainee to the CEO, must literally or figuratively be stamped: THIS IS CUSTOMER MONEY!”
http://www.realestateradiousa.com/blog/2008/06/02/11520/
Read it and enjoy it.... it's a great article.
-
Myke,
You've made some excellent points ...
1.) ->>>>> "Many agents waste time, energy, and resources - and if they simply took advantage of some of the tools available to them - could reduce their overhead considerably..."
2.) ->>>>> "Nobody seems to want to sit down, look at their day, look at the work they put in - and say "how can i do this better?" You have these tools that you use, that create more work for you. That's not a help, that's a liability...."
-
You've made some excellent points ...
1.) ->>>>> "Many agents waste time, energy, and resources - and if they simply took advantage of some of the tools available to them - could reduce their overhead considerably..."
2.) ->>>>> "Nobody seems to want to sit down, look at their day, look at the work they put in - and say "how can i do this better?" You have these tools that you use, that create more work for you. That's not a help, that's a liability...."
-
John,
"They see it as their last bastion of defense, the last control handle on the wheel of life ... "
See what I mean...?
-
"They see it as their last bastion of defense, the last control handle on the wheel of life ... "
See what I mean...?
-
John the Bruce,
You have an entertaining name, I tried to look up the meaning .. I got zip ; ^)
They see it as their last bastion of defense, the last control handle on the wheel of life ...
What they don't -or won't- understand, is the pure convenience of it all - and more market penetration.
Who wants to stand on rainy Brownstone steps or 102 degree heat looking at the neighbors shrubs waiting for the agent who is tied up in traffic .. this could be the first house on the list, this could be the very last ... especially in the late fall and those very short winter days, it's a godsend.
I've looked at dozens of homes on straight old lock boxes .. that said, they were all vacant .. I've had folks interested in a property, the agent is busy on a closing or has 3 showings in a row and these potential buyers are flying out in 4 hours .. I call, flip the key .. it's sold 6/7 homes that way.
The hand buys what the eye see's ... and timing is everything.
: ^)
You have an entertaining name, I tried to look up the meaning .. I got zip ; ^)
They see it as their last bastion of defense, the last control handle on the wheel of life ...
What they don't -or won't- understand, is the pure convenience of it all - and more market penetration.
Who wants to stand on rainy Brownstone steps or 102 degree heat looking at the neighbors shrubs waiting for the agent who is tied up in traffic .. this could be the first house on the list, this could be the very last ... especially in the late fall and those very short winter days, it's a godsend.
I've looked at dozens of homes on straight old lock boxes .. that said, they were all vacant .. I've had folks interested in a property, the agent is busy on a closing or has 3 showings in a row and these potential buyers are flying out in 4 hours .. I call, flip the key .. it's sold 6/7 homes that way.
The hand buys what the eye see's ... and timing is everything.
: ^)
You seem to be a very interesting person Al,
That's odd, you're new to the board by one day and you have only 2 posts ... interesting.
1.) your first inquiry yesterday was about some Phoenix investment .. which, you haven't answered.
2.) then, you "just happen" to stumble on this particular topic and decide to defend the rights of all the fallen angels in the world.? .l.o.l..
I find this curious to so say the very least ... experienced investors (especially Canadians), are asking about zoning laws, tax bases, liability concerns, building constraints, currencies, CTX mortgages, etc, etc ... (you are an experienced investor, aren't you.?)
Funny, none of that has even popped up .. the last 3 homes I sold in Florida went to Canadians, realtors and agents are the very very last thing they want to discuss on their long and precise lists ... they would jimmy a patio door before calling a realtor .l.o.l..
But, your spending your time doing.....? .. golly gee, you sound like JR with tone and attitude ... or perhaps, you're just another shill.
PS: It's wireless to wireless, it's click and send, agents can be 10 miles away - and swoosh, the potential buyers is standing in a marble bathroom.
Lie, we save that for folks that pretend to be elvis and fabricate endorsements.
-
That's odd, you're new to the board by one day and you have only 2 posts ... interesting.
1.) your first inquiry yesterday was about some Phoenix investment .. which, you haven't answered.
2.) then, you "just happen" to stumble on this particular topic and decide to defend the rights of all the fallen angels in the world.? .l.o.l..
I find this curious to so say the very least ... experienced investors (especially Canadians), are asking about zoning laws, tax bases, liability concerns, building constraints, currencies, CTX mortgages, etc, etc ... (you are an experienced investor, aren't you.?)
Funny, none of that has even popped up .. the last 3 homes I sold in Florida went to Canadians, realtors and agents are the very very last thing they want to discuss on their long and precise lists ... they would jimmy a patio door before calling a realtor .l.o.l..
But, your spending your time doing.....? .. golly gee, you sound like JR with tone and attitude ... or perhaps, you're just another shill.
PS: It's wireless to wireless, it's click and send, agents can be 10 miles away - and swoosh, the potential buyers is standing in a marble bathroom.
Lie, we save that for folks that pretend to be elvis and fabricate endorsements.
-
Deborah,
Your licenses are in NJ and FL and you don't use el's....?
http://www.gesecurity.com/portal/site/GESecurity/menuitem.11…
http://www.freepatentsonline.com/4914732.html
http://www.allbusiness.com/media-telecommunications/telecomm…
http://www.allbusiness.com/real-estate/real-estate-agents/53…
http://illinoishousehunter.blogspot.com/2008/03/lock-boxes-w…
http://www.geindustrial.com/ge-interlogix/supra/agents/what_…
http://realtytimes.com/rtpages/20031205_supra.htm
http://buyingandsellingahome.myguidesusa.com/answers-to-my-q…
The simplier the better I always say ...
-
Your licenses are in NJ and FL and you don't use el's....?
http://www.gesecurity.com/portal/site/GESecurity/menuitem.11…
http://www.freepatentsonline.com/4914732.html
http://www.allbusiness.com/media-telecommunications/telecomm…
http://www.allbusiness.com/real-estate/real-estate-agents/53…
http://illinoishousehunter.blogspot.com/2008/03/lock-boxes-w…
http://www.geindustrial.com/ge-interlogix/supra/agents/what_…
http://realtytimes.com/rtpages/20031205_supra.htm
http://buyingandsellingahome.myguidesusa.com/answers-to-my-q…
The simplier the better I always say ...
-
Deborah,
Have you tried looking into your own office....?
-
Have you tried looking into your own office....?
-
>>>>I spit my commission with my brokerage firm because I am in my second year and haven't earned enough to change production levels>>>
Bay, good morning...
I understand what you're saying, but I agree with Myke ... your issue isn't with the consumer, it's with your broker ..
The real estate business is now going through "exactly" the same moves and motions as the Car dealers did from 1999 - 2004 ... it's the mirrored image, it's the exact twin.
When the first automobile sites came out in 98/99 .. the information was a little rough and sketchy, maybe 50% accurate and most consumers tried and mostly failed ..
But when better sites came out like Edmunds, Carpoint, etc .. consumers then knew what invoicing was, holdback, dealer cash (that was held secret for 100 years), incentive money,etc ..... then, the entire automobile landscape changed forever - same with Trulia and others.
The "early" consumers would go into a dealership and show their research and their information, and make an offer based on the quoted car dealer 63 miles away .. of course, they would get the normal ballyhoo - "nobody will sell you that model for that price, come back when you're tired of driving" ..
Well .. Mr Consumer did just that .. he drove the 63 miles there, bought the same exact vehicle for $1,800 less, then drove 63 miles back, the original dealer thought it was a fluke ...
It was a fluke .. until Mr Consumers brother bought one there, then his Uncle, and his golfing buddy down the street .. pretty soon, they only had to drive 12 miles to get a much lower discounted price because the landscape of competition changed "oh-so quickly..." .
Cash is King, but positive cash flow is even better...
Brokers are paying for agents, computer time, air conditioning, electric, lease/mortgage payments, fax, etc .... if they want to survive in business, they would rather have 6 agents walking through the door with $7,200 each in contracts, then 2 agents walking in with $14,000 each.
-- Or, they can follow the history of the car dealers, most were sold or bought out by 2004 ... common sense isn't common, we'll see.
-
Bay, good morning...
I understand what you're saying, but I agree with Myke ... your issue isn't with the consumer, it's with your broker ..
The real estate business is now going through "exactly" the same moves and motions as the Car dealers did from 1999 - 2004 ... it's the mirrored image, it's the exact twin.
When the first automobile sites came out in 98/99 .. the information was a little rough and sketchy, maybe 50% accurate and most consumers tried and mostly failed ..
But when better sites came out like Edmunds, Carpoint, etc .. consumers then knew what invoicing was, holdback, dealer cash (that was held secret for 100 years), incentive money,etc ..... then, the entire automobile landscape changed forever - same with Trulia and others.
The "early" consumers would go into a dealership and show their research and their information, and make an offer based on the quoted car dealer 63 miles away .. of course, they would get the normal ballyhoo - "nobody will sell you that model for that price, come back when you're tired of driving" ..
Well .. Mr Consumer did just that .. he drove the 63 miles there, bought the same exact vehicle for $1,800 less, then drove 63 miles back, the original dealer thought it was a fluke ...
It was a fluke .. until Mr Consumers brother bought one there, then his Uncle, and his golfing buddy down the street .. pretty soon, they only had to drive 12 miles to get a much lower discounted price because the landscape of competition changed "oh-so quickly..." .
Cash is King, but positive cash flow is even better...
Brokers are paying for agents, computer time, air conditioning, electric, lease/mortgage payments, fax, etc .... if they want to survive in business, they would rather have 6 agents walking through the door with $7,200 each in contracts, then 2 agents walking in with $14,000 each.
-- Or, they can follow the history of the car dealers, most were sold or bought out by 2004 ... common sense isn't common, we'll see.
-
>>>>You forgot one critical component........the key>>>>
Al,
I'm sorry to upset your morning - but ....
This is 2008 .. the new electronic keys are already being used with consumers ... in another 20/30 months, it will be nationwide.
I'm quite certain Canada can't be that far behind ...
And as far as the old lock box keys, they're handed out like Doritos ...
There's many times a consumer would prefer "not" having an agent hovering around their every move when looking at a home.
-
Al,
I'm sorry to upset your morning - but ....
This is 2008 .. the new electronic keys are already being used with consumers ... in another 20/30 months, it will be nationwide.
I'm quite certain Canada can't be that far behind ...
And as far as the old lock box keys, they're handed out like Doritos ...
There's many times a consumer would prefer "not" having an agent hovering around their every move when looking at a home.
-
Myke,
You and your shadow..... ; ^)
-
You and your shadow..... ; ^)
-
I've always loved this part: >>>>and they get a negtiator>>>> (spelled negotiator)
Actually, it's one of the worst systems on the planet ...
How does a consumer know what, if and how anything was really negotiated.?
Keep in mind, the easiest person to work is the ~ "buyer".
The real estate "negotiation" system is very flawed - and always has been .. it's just that things are just finally catching up to a system that was obsolete 10 years ago.
Stop and think about for a moment ... you the buyer, is hiring a stranger to do the negotiation .. the offer is going to be transported via a 2 minute phone call and a fax -- where's the negotiation part.?
The listing agent receives it and will send it, and discuss it with the seller over another 2 minute phone call ... and the seller will make a quick decision based on all of the information that was gathered by him through the listing agent 30 days ago - and 30 minutes ago ...
Where's the negotiation part.? .. it's either yeah or neh, but, the buyer wants another $79,000 - but you weren't there, so you don't know what was said .. or how it was said.
This, all coming off a 7 year stint in California and Florida were agents just haggled over the "highest" offers on a Sunday .. getting a $3,000 discount on a $380,000 home was like finding the Holy Grail, or so consumers were led to believe ... plus, you had lenders that were buying dead people with a pulse -- certainly no negotiation there ....
- and we now know those days are over - way over.
Think about it ... would you send your golfing buddy, or your uncle or your dad to your next job interview at Cisco Systems or Adobe Systems or the Mayo Clinic .. I don't think so.
So .. why would send a perfect stranger (thats on straight commission) into a situation to negotiate *your* largest, most expensive purchase and monthly payment in your life. ...?
Scary, ain't it....?
-
Actually, it's one of the worst systems on the planet ...
How does a consumer know what, if and how anything was really negotiated.?
Keep in mind, the easiest person to work is the ~ "buyer".
The real estate "negotiation" system is very flawed - and always has been .. it's just that things are just finally catching up to a system that was obsolete 10 years ago.
Stop and think about for a moment ... you the buyer, is hiring a stranger to do the negotiation .. the offer is going to be transported via a 2 minute phone call and a fax -- where's the negotiation part.?
The listing agent receives it and will send it, and discuss it with the seller over another 2 minute phone call ... and the seller will make a quick decision based on all of the information that was gathered by him through the listing agent 30 days ago - and 30 minutes ago ...
Where's the negotiation part.? .. it's either yeah or neh, but, the buyer wants another $79,000 - but you weren't there, so you don't know what was said .. or how it was said.
This, all coming off a 7 year stint in California and Florida were agents just haggled over the "highest" offers on a Sunday .. getting a $3,000 discount on a $380,000 home was like finding the Holy Grail, or so consumers were led to believe ... plus, you had lenders that were buying dead people with a pulse -- certainly no negotiation there ....
- and we now know those days are over - way over.
Think about it ... would you send your golfing buddy, or your uncle or your dad to your next job interview at Cisco Systems or Adobe Systems or the Mayo Clinic .. I don't think so.
So .. why would send a perfect stranger (thats on straight commission) into a situation to negotiate *your* largest, most expensive purchase and monthly payment in your life. ...?
Scary, ain't it....?
-
Excellent posts "Concerned Citizen" & Myke ...
Some of these agents would argue in an empty house..
Sandra,
>>>>Statistics show that you more likely got 21% less>>>>
Really...? do you have any figures (besides the NAR) that your statistics are even in the same universe of reality.?
Everything certainly proves different: http://www.fsboprimer.com/fsboforseller.html
You're losing all of your court cases .. I'd be looking for a way to right the ship -- not sink it.
http://www.americanhomeowners.org/AHF/Home%20Base/June08.htm
Certainly some food for thought: http://finance.yahoo.com/education/real_estate/article/10145…
: ^)
Some of these agents would argue in an empty house..
Sandra,
>>>>Statistics show that you more likely got 21% less>>>>
Really...? do you have any figures (besides the NAR) that your statistics are even in the same universe of reality.?
Everything certainly proves different: http://www.fsboprimer.com/fsboforseller.html
You're losing all of your court cases .. I'd be looking for a way to right the ship -- not sink it.
http://www.americanhomeowners.org/AHF/Home%20Base/June08.htm
Certainly some food for thought: http://finance.yahoo.com/education/real_estate/article/10145…
: ^)
Thank you "Concerned Citizen" for the update.!
Bay,
I always find it fascinating when agents call it anti-realtor bashing every time the American consumer gets informed and something falls in their favor --- why is that.?
Actually, it's more like consumer bashing than anything else ... did you have a bad experience with a consumer.?
I understand your story about making $9,000 the first year ... but lets just be *very honest* here, you can no longer use the mask "got into the business to help people" .. if so, you would have given the commission back to the buyer and the seller, or the church or the school .. or.. back to Heather Mills because of the divorce ; ^) ...
Just because your industry is changing on a daily basis doesn't mean buyers had a bad experience ... right now you're in a sinking ship, I'd be looking for ways to keep it afloat ... not for ways to slap the consumer who is making your mortgage payment...
: ^)
Bay,
I always find it fascinating when agents call it anti-realtor bashing every time the American consumer gets informed and something falls in their favor --- why is that.?
Actually, it's more like consumer bashing than anything else ... did you have a bad experience with a consumer.?
I understand your story about making $9,000 the first year ... but lets just be *very honest* here, you can no longer use the mask "got into the business to help people" .. if so, you would have given the commission back to the buyer and the seller, or the church or the school .. or.. back to Heather Mills because of the divorce ; ^) ...
Just because your industry is changing on a daily basis doesn't mean buyers had a bad experience ... right now you're in a sinking ship, I'd be looking for ways to keep it afloat ... not for ways to slap the consumer who is making your mortgage payment...
: ^)
Good post Concerned Citizen,
Of course they're scared ...
You just had 15 different agents from Seattle to Alabama to NY trying to trump your sale ... if they weren't worried, they wouldn't be posting.
Every consumer that posts a sale or a purchase here gets the very same treatment on Trulia from the agents ... they could have done better, they market quicker, their insight is further, they negotiate better, etc, etc, etc ..
Scared...? .. I don't think so, the word is rolling towards "panic"... 20/25% of them won't even be here this time next year .. read a few of the postings from Inman News, that should pretty much give folks a pretty good idea.
: ^)
Of course they're scared ...
You just had 15 different agents from Seattle to Alabama to NY trying to trump your sale ... if they weren't worried, they wouldn't be posting.
Every consumer that posts a sale or a purchase here gets the very same treatment on Trulia from the agents ... they could have done better, they market quicker, their insight is further, they negotiate better, etc, etc, etc ..
Scared...? .. I don't think so, the word is rolling towards "panic"... 20/25% of them won't even be here this time next year .. read a few of the postings from Inman News, that should pretty much give folks a pretty good idea.
: ^)
Tman answered:
--- Do NAR Statistics of “For Sale by Owner” Sales Mislead People...???
Oh, not much.....
You’ve heard it quoted hundreds of times…"The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200;”
This figure comes from the NAR 2005 Buyer and Seller Profile. This figure is quoted religiously by the real estate and the media.
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
"Don't Try This At Home", targets unrepresented sellers (the FSBO market). The commercial features a hard-hitting message: REALTORS® have the experience to price your home effectively, so it can sell for up to 16% more than selling it yourself.
--- This is a pretty bold claim. 16% is a big number so let’s analyze this a little more using different figures. Here is what a home buyer would be led to believe hearing this statistic.
FSBO $300,000 / REALTOR $348,000 – 16% would be $48,000 more
FSBO $400,000 / REALTOR $464,000 – 16% would be $64,000 more
FSBO $500,000 / REALTOR $575,000 – 16% would be $75,000 more.
These numbers would make everyone consider selling with an agent… but how true are they.??
-- What is interesting to me is that the data set used to make this claim is not available anywhere. I have looked for it and cannot find it. If you have it great, let’s make it public so we can see how the NAR arrived at this statisic.
--- Everyone seems to believe this number and no one seems to want to question it? At the same time no one appears to understand what it really means. Could it be a fairly creative use of a statistic created to try to protect millions in real estate commissions?
Here is why. The report states that the “median” price is 16% higher not the “average” (or mean) price. Most people don’t understand the difference between a “median” and “mean”. Here it is:
*Median - the middle number in a sorted list.
*Mean - The value obtained by dividing the sum of a set of quantities by the number of quantities in the set. Also called average.
The difference between median and mean can be significant.
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
Here is two random data sets of 5 numbers to demonstrate the difference of median and mean why it’s important for the NAR to release the data set used to calculate this statistic. These are grouped by FSBO and REALTOR.
FSBO - 129,000, 156,000, 198,200, 297,000, 345,000
REALTOR – 121,000, 154,000, 230,000, 290,000, 330,000
So let’s view the “median” value of each of these data sets. Remember “median” is the middle number in a sorted list. Therefore the “median” numbers would be the third numbers in the above data sets.
FSBO median = $198,2000
REALTOR median = $230,000
(It’s no coincidence that there is a 16% difference between the two and these are the same numbers quoted by the NAR for display purposes)
So all the other numbers in the data set don’t matter, just whatever the “middle” number of the data list is. Does this seem to give an accurate estimate?
--- ***(It’s no coincidence that there is a 16% difference between the two and these are the same numbers quoted by the NAR for display purposes)***
--- Possibly, look at Federal Trade Commission Act, Section 5 that pertains to interest of all consumers to prevent deceptive and unfair acts or practices. The Commission has determined that a representation, omission or practice is deceptive if it is likely to:
- mislead consumers and
- affect consumers' behavior or decisions about the product or service.
In addition, an act or practice is unfair if the injury it causes, or is likely to cause, is:
- Substantial
- not outweighed by other benefits and
- not reasonably avoidable
Now you be the judge if this fits under the bill…
A) Does the 16% mislead consumers?
B) Does it affect the consumers decision to sell using an agent?
C) Is the cost substantial?
***Let’s see how common this statistic really is. If you actually know of a property that sold FSBO for 16% less then other REALTOR listed properties, please send the address and date sold?***
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
-
Oh, not much.....
You’ve heard it quoted hundreds of times…"The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200;”
This figure comes from the NAR 2005 Buyer and Seller Profile. This figure is quoted religiously by the real estate and the media.
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
"Don't Try This At Home", targets unrepresented sellers (the FSBO market). The commercial features a hard-hitting message: REALTORS® have the experience to price your home effectively, so it can sell for up to 16% more than selling it yourself.
--- This is a pretty bold claim. 16% is a big number so let’s analyze this a little more using different figures. Here is what a home buyer would be led to believe hearing this statistic.
FSBO $300,000 / REALTOR $348,000 – 16% would be $48,000 more
FSBO $400,000 / REALTOR $464,000 – 16% would be $64,000 more
FSBO $500,000 / REALTOR $575,000 – 16% would be $75,000 more.
These numbers would make everyone consider selling with an agent… but how true are they.??
-- What is interesting to me is that the data set used to make this claim is not available anywhere. I have looked for it and cannot find it. If you have it great, let’s make it public so we can see how the NAR arrived at this statisic.
--- Everyone seems to believe this number and no one seems to want to question it? At the same time no one appears to understand what it really means. Could it be a fairly creative use of a statistic created to try to protect millions in real estate commissions?
Here is why. The report states that the “median” price is 16% higher not the “average” (or mean) price. Most people don’t understand the difference between a “median” and “mean”. Here it is:
*Median - the middle number in a sorted list.
*Mean - The value obtained by dividing the sum of a set of quantities by the number of quantities in the set. Also called average.
The difference between median and mean can be significant.
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
Here is two random data sets of 5 numbers to demonstrate the difference of median and mean why it’s important for the NAR to release the data set used to calculate this statistic. These are grouped by FSBO and REALTOR.
FSBO - 129,000, 156,000, 198,200, 297,000, 345,000
REALTOR – 121,000, 154,000, 230,000, 290,000, 330,000
So let’s view the “median” value of each of these data sets. Remember “median” is the middle number in a sorted list. Therefore the “median” numbers would be the third numbers in the above data sets.
FSBO median = $198,2000
REALTOR median = $230,000
(It’s no coincidence that there is a 16% difference between the two and these are the same numbers quoted by the NAR for display purposes)
So all the other numbers in the data set don’t matter, just whatever the “middle” number of the data list is. Does this seem to give an accurate estimate?
--- ***(It’s no coincidence that there is a 16% difference between the two and these are the same numbers quoted by the NAR for display purposes)***
--- Possibly, look at Federal Trade Commission Act, Section 5 that pertains to interest of all consumers to prevent deceptive and unfair acts or practices. The Commission has determined that a representation, omission or practice is deceptive if it is likely to:
- mislead consumers and
- affect consumers' behavior or decisions about the product or service.
In addition, an act or practice is unfair if the injury it causes, or is likely to cause, is:
- Substantial
- not outweighed by other benefits and
- not reasonably avoidable
Now you be the judge if this fits under the bill…
A) Does the 16% mislead consumers?
B) Does it affect the consumers decision to sell using an agent?
C) Is the cost substantial?
***Let’s see how common this statistic really is. If you actually know of a property that sold FSBO for 16% less then other REALTOR listed properties, please send the address and date sold?***
http://www.forsalebyownercenter.com/blog/2006/10/do-nar-stat…
-
Tman answered:
Dan,
Bingo .. you're right on target.!
--->>>it's always more about THEIR commission than it is about you finding a home for you and your family and making one of the most important decisions of your life. And real estate agents wonder why they have such a bad "rap" with most of the public--->>>
There's nothing wrong with a commission driven business ... but the commission is first and foremost and the buyer and seller are in 2nd place -- just be honest about it.
-
Bingo .. you're right on target.!
--->>>it's always more about THEIR commission than it is about you finding a home for you and your family and making one of the most important decisions of your life. And real estate agents wonder why they have such a bad "rap" with most of the public--->>>
There's nothing wrong with a commission driven business ... but the commission is first and foremost and the buyer and seller are in 2nd place -- just be honest about it.
-
Sandra, a superb post.!
-->>>"I know there are people who don't want to hear this, because it seems there is a new answer posted on trulia every minute with a Real Estate Pro explaining that it is impossible to buy without an agent representing you. This is a myth! ...
Your absolutely right, it's a myth .... unfortunately, some agents just wont let consumers see it that way.
-
-->>>"I know there are people who don't want to hear this, because it seems there is a new answer posted on trulia every minute with a Real Estate Pro explaining that it is impossible to buy without an agent representing you. This is a myth! ...
Your absolutely right, it's a myth .... unfortunately, some agents just wont let consumers see it that way.
-
Tman answered:
Lori Alden fails terribly and miserably with her analysis...
Really.....?
--- Lori Alden has a B.A. in Political Science from the University of California at Berkeley, and a Ph.D. in economics from the University of California at Davis. She taught college-level economics for almost twenty years before becoming a licensed real estate broker.
--- She's developed several public interest websites, includinghttp:// www.econoclass.com, an online resource for economics teachers, www.foodsubs.com, which describes cooking ingredients and recommends substitutions, andhttp:// www.equalshares.com, which suggests ways for heirs and divorcees to divide personal property fairly and efficiently, and auctiontipsheet.com, which explains how to save money at real estate auctions.
--- She's bought and sold several FSBO properties, and is the co-owner, with her daughter, of several local FSBO website businesses, including FSBOSonoma.com, FSBOSolano.com, FSBONapa.com, FSBOAlameda.com, FSBOContraCosta.com, FSBOSac.com, FSBOSantaClara.com, and FSBOSanMateo.com.
--- She's been a guest on Real Estate Today, a nationally syndicated radio talk show. FSBOPrimer.com has been cited in The Wall Street Journal and The Washington Post as a useful reference for home sellers.
You can reach her at alden@sonic.net.
http://www.fsboprimer.com/
-
Really.....?
--- Lori Alden has a B.A. in Political Science from the University of California at Berkeley, and a Ph.D. in economics from the University of California at Davis. She taught college-level economics for almost twenty years before becoming a licensed real estate broker.
--- She's developed several public interest websites, includinghttp:// www.econoclass.com, an online resource for economics teachers, www.foodsubs.com, which describes cooking ingredients and recommends substitutions, andhttp:// www.equalshares.com, which suggests ways for heirs and divorcees to divide personal property fairly and efficiently, and auctiontipsheet.com, which explains how to save money at real estate auctions.
--- She's bought and sold several FSBO properties, and is the co-owner, with her daughter, of several local FSBO website businesses, including FSBOSonoma.com, FSBOSolano.com, FSBONapa.com, FSBOAlameda.com, FSBOContraCosta.com, FSBOSac.com, FSBOSantaClara.com, and FSBOSanMateo.com.
--- She's been a guest on Real Estate Today, a nationally syndicated radio talk show. FSBOPrimer.com has been cited in The Wall Street Journal and The Washington Post as a useful reference for home sellers.
You can reach her at alden@sonic.net.
http://www.fsboprimer.com/
-
Good evening NJ Home,
Commissions are like anything else right now - it's very negotiable .. especially in todays market.
You as a consumer shouldn't take any sides -- just take your own side.
Take the side that will give you the best results and save you the most amount of money..
This is a great article from Clark Howard:
--- Before the internet, the only way to know which homes were for sale was to find an agent with a Multiple Listing book, a monthly publication that listed all the available properties in a particular market. It was like a closely guarded secret. But the internet broke open that secret. Non-traditional players jumped into the game and began offering discounted services, or menus of services, letting the consumer pick only those which were necessary.
--- The NAR did all it could to shut down these non-traditional companies. But very soon, real estate commissions will be allowed to float with the free market, and you as a consumer will be empowered. Sellers will be able to pick and choose the specific services they need to sell a property, and buyers will have online access to all available listings - regardless of commission rate. This is a long overdue victory.
Whats in the here and now for consumers from 60 minutes:
http://www.cbsnews.com/stories/2007/05/11/60minutes/main2790…
Lori Alden writes a wonderful "how to" .. it's called "Saving Money on Real Estate Commissions.."
http://www.fsboprimer.com/
I hope this helps.!
Commissions are like anything else right now - it's very negotiable .. especially in todays market.
You as a consumer shouldn't take any sides -- just take your own side.
Take the side that will give you the best results and save you the most amount of money..
This is a great article from Clark Howard:
--- Before the internet, the only way to know which homes were for sale was to find an agent with a Multiple Listing book, a monthly publication that listed all the available properties in a particular market. It was like a closely guarded secret. But the internet broke open that secret. Non-traditional players jumped into the game and began offering discounted services, or menus of services, letting the consumer pick only those which were necessary.
--- The NAR did all it could to shut down these non-traditional companies. But very soon, real estate commissions will be allowed to float with the free market, and you as a consumer will be empowered. Sellers will be able to pick and choose the specific services they need to sell a property, and buyers will have online access to all available listings - regardless of commission rate. This is a long overdue victory.
Whats in the here and now for consumers from 60 minutes:
http://www.cbsnews.com/stories/2007/05/11/60minutes/main2790…
Lori Alden writes a wonderful "how to" .. it's called "Saving Money on Real Estate Commissions.."
http://www.fsboprimer.com/
I hope this helps.!
Pay attention, there's going to be a test...
->> At the beginning of World War I, Germany had ten zeppelins. During the war, Hugo Eckener, a German aeronautical engineer, helped the war effort by training pilots and directing the construction of zeppelins for the Germany navy. By 1918, 67 zeppelins had been constructed - and only 16 survived the war.
-
->> At the beginning of World War I, Germany had ten zeppelins. During the war, Hugo Eckener, a German aeronautical engineer, helped the war effort by training pilots and directing the construction of zeppelins for the Germany navy. By 1918, 67 zeppelins had been constructed - and only 16 survived the war.
-
NJ home,
Amazing isn't it....?
Wow.! .. that took all of 2 seconds on the internet, and there you are ... a high quality realtor that will do a full complete service for $4,350 .. they ask for a commission to be paid to the buyers agent that can be a negotiated flat fee, or a negotiated 2 or 3% ...
http://www.carolpyfrom.com/
So .. other than a consumer saving $10,000 on a $350,000 home, what would be the point...?!? ..l.o.l...
How many of these quality agents are doing this between Atlanta and Charlotte - 150, 250..? .. how many of these quality realtors are doing this between Charlotte and Washington - 250, 550, 750..? .. how many of these high quality agents are doing the same type of discounting between Baltimore and Paterson -- 750, 950, 1,500...?
Wake up Deborah, most agents have seen a good paycheck since Easter .. and the brokers are finding it very hard to keep the lights, gas, air conditioning, fax, computer time, etc, still running -- and that doesn't count their own personal expenses, like a mortgage ..
.. The smart ones are taking a piece of the pie instead of starving to death -- next.!
-
Amazing isn't it....?
Wow.! .. that took all of 2 seconds on the internet, and there you are ... a high quality realtor that will do a full complete service for $4,350 .. they ask for a commission to be paid to the buyers agent that can be a negotiated flat fee, or a negotiated 2 or 3% ...
http://www.carolpyfrom.com/
So .. other than a consumer saving $10,000 on a $350,000 home, what would be the point...?!? ..l.o.l...
How many of these quality agents are doing this between Atlanta and Charlotte - 150, 250..? .. how many of these quality realtors are doing this between Charlotte and Washington - 250, 550, 750..? .. how many of these high quality agents are doing the same type of discounting between Baltimore and Paterson -- 750, 950, 1,500...?
Wake up Deborah, most agents have seen a good paycheck since Easter .. and the brokers are finding it very hard to keep the lights, gas, air conditioning, fax, computer time, etc, still running -- and that doesn't count their own personal expenses, like a mortgage ..
.. The smart ones are taking a piece of the pie instead of starving to death -- next.!
-
NJ,
It's always been negotiable .. and it's even more negotiable now.
Keep in mind, agents and their brokers have been slow now for 8/10 months and closings have been even slower... some full service agents are doing 2 or 4% and some are doing "flat fee's" ...
It's a buyers market, interview 4 or 5 agents, then negotiate their commission...
-
It's always been negotiable .. and it's even more negotiable now.
Keep in mind, agents and their brokers have been slow now for 8/10 months and closings have been even slower... some full service agents are doing 2 or 4% and some are doing "flat fee's" ...
It's a buyers market, interview 4 or 5 agents, then negotiate their commission...
-
Tman answered:
Excellent post Jim Carson...
--->>>As the market sinks he is finding more and more desperate realestate agents sinking thier morals and bending the rules. His advice contact an attorney(surprised?) and don't listen to others hearsay about laws. He finds more often than not there is a good case in matters such as yours but most people just don't follow through with what should be done.--->>>
Like you've just stated: "most people just don't follow through .."
Most people get caught up in the next looking phase, then buying and then the moving aspect of their new home, then this becomes secondary at best ...
Aread, check with a quality real estate attorney ... if you would have had one at the time, we wouldn't be having this conversation right now ...
Keep in mind, the broker business is structured just like car dealerships ... any grievances are looked at and internalized, then get very muted not to gain any bad press... if nothing else, file your grievance with the Attorney Generals office..
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--->>>As the market sinks he is finding more and more desperate realestate agents sinking thier morals and bending the rules. His advice contact an attorney(surprised?) and don't listen to others hearsay about laws. He finds more often than not there is a good case in matters such as yours but most people just don't follow through with what should be done.--->>>
Like you've just stated: "most people just don't follow through .."
Most people get caught up in the next looking phase, then buying and then the moving aspect of their new home, then this becomes secondary at best ...
Aread, check with a quality real estate attorney ... if you would have had one at the time, we wouldn't be having this conversation right now ...
Keep in mind, the broker business is structured just like car dealerships ... any grievances are looked at and internalized, then get very muted not to gain any bad press... if nothing else, file your grievance with the Attorney Generals office..
-
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