A Real Estate agent can not pay a referral fee to a person who does not have a real estate license except if the property is commercial or over 4 units.
A life insurance agent would have to check in their licensing board and Code of Ethics to find out if they can pay a referral to a person who does not have an insurance license. I have heard that it is not legal either.... more
Zillow probably goes a bit too far in controlling things, but Trulia is way too lax. They've made their site virtually worthless by allowing just about anything to be posted, including material which is a clear violation of copyright law and blog pieces which are nothing more than a link to another site or an advertisement for an open house or new listing.
Also, why do they need to have such complicated spam filter passwords? Half the time you can't even read one of the two words. Zillow seems to get by just fine with three numbers.... more
Well Dan, I guess you good ole boys down South just have a difficult time changing your tudes about progress. But might I suggest you start doing some serious homework about the Factory Built Housing Industry overall. It could have a positive or negative effect on your ROI.... more
Bill, life's just too short to put yourself out there too far as far as I'm concerned. Unfortunately I must have spent a little too much time in Auto Sales in my younger years as I've bought into the "Buyers are Liers" philosophy as I've hardened throughout my sales career no matter what the product.
In my 68 years on this planet I've sold, cars, trucks, designed, manufactured and sold my own line of go fast boats, sold yachts, RV's, aircraft, Factory Built Housing, Homes, Land and myriad businesses. Overall I've retained a reasonable amount of clientele who probably wouldn't do business with anyone but me.
That stated, it has taken me decades to arrive at this plateau and not without a lot of disappointment and even heart ache. If you want to save yourself a lot of frustration, distraction and finding yourself just plain in a bad mood do yourself a favor and give a little of yourself to your buyers but don't over extend.
There's always a time to pull the trigger. Don't be afraid of that EBA. That's what it's there for. If you find yourself showing more than one or at most two properties I'd definitely go for some sort of commitment before getting too strung out.
Just my 3 cents worth. (Adjusted for inflation)... more
We used to work on calling expired listings to convert them into customers. We stopped pursuing it because we saw two distinctive things that were inconsistent with our business:
1. Agents would call home owners as early as 6:30 in the morning to be the first to call. This practice is in violation of the national telemarketing laws that allow home owners to be called from 8:00 AM to 9 PM only.
2. When we did reach someone, 50% would hang up as soon as they knew we were agents. 45% answered and were upset and maybe 5% would talk to us.
We agree with Bill, visibility and success speak for themselves.
We hope this helps.
Best to you,
Mark & Kari Shea
Shea Real Estate
Serving Greater San Diego
@Janet - We use the lock boxes so it seems like it is a little less onerous than being at every single showing. I couldn't imagine the amount of time involved with that and wouldn't consider flat rate with that service level. Thanks for stopping by!
@John - You touched on what I have been thinking about - full service for a fee with options to add more or less. I am wondering if the problem becomes that the type of person you attract with that type of arrangement is more of a taker and will want the base fee with all the bells and whistles thrown in. Thanks, I appreciate your perspective.
@Raschel - I wasn't even considering my experiences with REO listings when I was describing listing agents - that is a whole other story! Maybe I should spend so more time with expireds and see what they have to say... Thanks!
@Louis - From Help U Sell to RE/MAX - I'd say that is a trade up! I'm not thinking about the $500 and I'll sign you up on the MLS deal. And I don't want to carry a stigma as a "discount broker", which is a term I fundamentally disagree with simply because a commission rate is negotiable and not a standard - so what is a negotiated commission fee discounted from? Anyways, I guess I am just trying to look realistically where we are going and be ahead of the curve. I do find it interesting that no flat fee brokers have jumped on this thread and talked about how great it is.... Thanks for your insights!
@Jerry - at least you had black and white flyers at the big brokerage listings you have been too!!! I have seen big brokerage, none-REO listings with no flyers at all. The clients I work with appreciate the service I provide as well and because I love what I do, it is generally easy and enjoyable. I am not talking about taking their money and sending them on their way to sell their house. I fully want to make sure they are taking care of.
I was just thinking as a way to differentiate, going to a fee for service model while still providing over the top service could help increase my volume and exposure. Stuff I would cut out and add as additional items would mostly be print ads like Raschel was talking about and out of pocket stuff that doesn't have a lot of direct benefit to the seller (my opinion). I feel that so much of what agents do is putting money toward building image to gain more prospects and it seems with the internet, their are other alternatives that don't require client subsidies via higher commissions to get huge results.
But, on the other hand - I agree with Louis' observation that many people feel that something is more valuable if it costs more. Thanks - got anything coming up in the Rancho San Pasqual area? I am looking with a client behind the gates there.
J R - The listing agent you describe I will never be, even for free! And I don't want to be even remotely labeled in the group of agents you describe....so your experience is very helpful. Thanks!... more