However, when I sold my home the buyers got an agent, but they paid them.
I know he's exceptional because during the process he had several opportunities to work against my interests -- and he didn't. At one point he even recommended that I should not make an offer on a home that was being listed by another agent in his own company.
Landa may not be happy, idk.
Realtors will tell you that sellers without an agent generally lose money despite the 6%. Realtors not only get them better offers, but more exposure and less hassle on the sellers part. Do you really want unqualified slobs lowballing you and demanding that you carry the note?
Pretty much the same way people trade in their cars rather than sell them themselves.
There have always been real estate agents who will agree to less of a commission. I know of some.
I’m a Realtor®. Commission is never set, nor are we allowed to say anything to the effect that a certain percentage is an “industry standard.” In fact, it’s illegal in most states.
My brokerage disclosure states up front that commissions are negotiable. Now, the listing agent does a lot of work up front and a good agent will get your house sold quicker and for more money. Plus, you won’t get the headache of setting up the closing process, contacting the insurance companies, dealing with last minute issues, etc.
Now, if you’re an experienced real estate investor/purchaser/seller, then you probably don’t need an agent and you can save that money.
I have a fiduciary responsibility to my principle (buyer/seller). I cannot refuse to show someone a house even if I don’t receive any commission. The ethics of a Realtor® dictate that I get my client the best house that fits their desires at the best possible price no matter the commission.
If I’m representing the seller, I’m supposed to get them the most money possible based on fair market value regardless of how much they pay. If the seller accepts a lower offer, I cannot advise they refuse it.
The buyer and seller are in charge. Agents do need to be paid for their expertise and work, just as any other profession.
meh. we looked into moving last year, and the realtor we spoke with wanted us to bring a POD on the property and put all our stuff in it so she could show it better.
Nope. She even hinted at us staying in a hotel, and boarding our dogs.
Nope again.
Every house i’ve ever bought was occupied. I knew their pictures and moose heads on the wall would be gone. It’s not difficult.
Any outrage about lawyers getting 35-40% of civil suit awards, plus bill for expenses? Not to mention size of some suit awards.
Broadly, the transition will be like what stocks, investment advice, and the car business experienced over the last few decades. Services and fees will be disaggregated, with a lot more choices for sellers and buyers. On the whole, there will be more competition, better service, and reduced fees and commissions.
Or, to put it another way, the traditional commission arrangement was like only being able to eat out at buffets with fixed per person pricing, with occasional coupons and early bird special. Now, even though there will still be buffets, people will also be able to go to restaurants and order off a menu or to a cafeteria and buy items as they prefer and need.