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another realtor rant...

Discussion in 'General' started by Tristan, May 3, 2022.

  1. auminer

    auminer Renaissance Redneck

    Clearly you haven't looked into the silver market.

    As of May 6th, there are 141,193 open silver futures contracts. (linky: https://www.cmegroup.com/markets/metals/precious/silver.volume.html ) Each represents the promise to deliver 5000 ounces of silver to the holder. That's 705,965,000 ounces, which is over 70% of the annual global supply. Most of those contracts will be settled for the cash value of the difference between purchase and expiry, which is what has allowed the 'paper' market for silver to become so detached from the (dare I say) REAL market.

    As of the latest available data, approximately 400 days worth of global silver production has been sold short. You may or may not be aware of the shenanigans in the nickel market a few weeks back. That 3x overnight spike was the result of one guy who had a 20 day supply short position in the nickel market and will likely result in the demise of the London Metals Exchange market.


    Yeah... the goons are aware. When that tide turns, there will be significant flooding.
     
  2. pickled egg

    pickled egg Tell me more

    Silly me, I thought you were talking about REAL shiny metal and not just pieces of paper that said you had some shiny metal you’ve never seen, held or touched.
     
  3. auminer

    auminer Renaissance Redneck

    I used to have some.

    I'm still wondering why the hell I took it (and all of my firearms) fishing with me that day. :(

    [​IMG]

    Don't get me wrong, I have some PSLV as well, but certain events in relation to funding websites and 18wheelers honking their horns, and certain events at the intersection of the Venn diagram of the two have me somewhat less trusting of the security of deposits in the Royal Canadian Mint...
     
    pickled egg likes this.
  4. auminer

    auminer Renaissance Redneck

    You could look at it that way.

    Or you could look at it as further evidence of the disconnect between the paper and physical markets.

    The two must reconcile somewhere.
     
  5. Dave Wolfe

    Dave Wolfe I know nuttin!

    I cant wait for the paper markets to blow up. Its going to be spectacular.
     
  6. Dave Wolfe

    Dave Wolfe I know nuttin!

    And talking bout real estate agents, the standard commission around here is 7%. U see lots of fsbo.
     
  7. JCP636

    JCP636 Well-Known Member

    I’m really not sure how you think the industry should work. You want realtors to show and sell your house for free? You can list it on Zillow as a FSBO home and someone who is like you and doesn’t feel like they need a realtor can buy it. The issue is that most people aren’t going to buy a home without a realtor, because they don’t know shit about houses and want to make sure they don’t get screwed over. I get requests to see FSBO homes all the time. I call the home owner and ask if they’re willing to pay me a commission to sell their home. If they say no, I tell my client that they will have to pay me a fee themselves for me to facilitate a deal on the house. If the price is good enough, it’s no problem. I’m really not sure what your issue is here. Nobody is getting black balled. But also, people don’t work for free…
     
  8. JCP636

    JCP636 Well-Known Member

    I’ll also add that FSBO homes are a pain in the ass, because usually the home owners think they know what they’re doing, but really have no idea. So you wind up having to do double the work as a realtor, but only getting half of a normal commission.
     
    L8RSK8R and cpettit like this.
  9. auminer

    auminer Renaissance Redneck

    I'm not sure either... But $13200 in commissions on the house I'm closing on tomorrow is too damn much in my mind.

    [​IMG]
     
  10. JCP636

    JCP636 Well-Known Member

    Pay $100 to have someone list it on the MLS and offer a 2-3% commission to a buyer’s agent then. And you do all the legwork on the selling side. Look at that, I just saved you a bunch of money for next time.
     
  11. motion

    motion Nihilistic Member

    Escrow company does all the work. I bought a FSBO years ago and it was a piece of cake. Seller and I agreed to price and terms over a handshake, then off-handed everything to the escrow company. Closed in 30 days.
     
  12. auminer

    auminer Renaissance Redneck

  13. JCP636

    JCP636 Well-Known Member

    Golden goose livelihood?!?!?! I wish homie. I have a pretty good life, but it’s not because I’m rich, or because I’m a real estate agent. I wouldn’t be doing this if it were about the money. I do this for the flexibility. I work hard when I want to, and then fuck off whenever I want. I could be making a lot more money in various other fields.

    Also, I was you. I got involved in rentals and flips, and used realtors to do my transactions, then I quit my job and said I might as well become a realtor and do my own transactions to save the money. So, go do that instead of bitching about it. But also, I don’t regret a single penny a realtor ever made off of me. I either didn’t know what I was doing, or didn’t have time to deal with any of the bullshit. I was grateful to have them, even if it was just to have a professional to bounce things off of. If it’s so easy, be like me, quit your job and go do it instead of whine about it.

    P.S. Some transactions are simple and the agent really does do minimal work, but even the simplest transactions, can quickly become a nightmare.
     
  14. JCP636

    JCP636 Well-Known Member

    Also, you don’t need to go get your real estate license to sell your own house. So if that’s all you want to do, don’t waste the time and money on getting your license. Just pay the $100 fee to get it in the MLS.
     
  15. auminer

    auminer Renaissance Redneck


    I know enough to know that I don't know enough about the various things that can come up.

    F'rinstance. The first "bidding war" (I hate the term, but no 3/2 in Lubbock is actually selling for list) we 'won' (another term I hate) was a house that had a renter in place who had a lease through next year. I was stoked to get such a situation, and I applied the formula I've already outlined in other threads to come up with my bid, which was highest by 1000 bucks. SWEET!!! But then the seller disclosed after the fact that it was a 1031 Exchange. I was like. "What does that mean?" When I found out, I said, OK, cool... have the seller agree to escrow the $650/month I estimated I'd gross after taxes, insurance, and management fees and apply that to the final wire transfer when they got their other properties sold & were ready to finalize all the transactions and buy their new property. They hemmed & hawed on that, but went with the second highest bid because of it. Now that I know what a 1031 exchange is, I think it was chickenshit not to disclose that in the listing. But, there's an example of something that I didn't know I didn't know. It did let me know that my formula was pretty spot on for the market, though, when my realtor was telling me I was overpaying.

    That's what the license is for.

    Plus, hey, I need something cushy for when I get tired of shit-scooping... :D
     
  16. JCP636

    JCP636 Well-Known Member

    Haha, why would you give up such an honorable profession? I think you’ve just had some poor experiences. Which is common unfortunately. Too many part time realtors and people not willing to put the work in because they “think” being a realtor is easy money. And yes, they should disclose if there’s a 1031 exchange going on, but it doesn’t necessary have to change the terms of the contract. Onus is on the seller to get all of his ducks in a row and time it right. Seems they were trying to shift that responsibility onto you which they can do in a seller’s market I guess.
     
  17. Tristan

    Tristan Well-Known Member

    3 weeks in... the buyer backed out. Re- listed and got an even higher offer that day. Fingers crossed...

    Oh... the listing is still crap and I still hate realtors
     
  18. This old Rz

    This old Rz Well-Known Member

    I'm Small potatoes but I will never use a realtor again fuck them t.....not there for you.
    they're like a coworker who's always there in the shadows waiting to stab you in the back...lol

    Unless you're forced to sell or you're desperate..

    There is absolutely no reason to lose money ...lots of it.

    No bullshit no you pay this I'll pay that you just have a straight up deal and offer....

    I have two friends that fired their Realtors waited a little bit both sold their houses for approximately 30,000 more than what they were asking and on their first and third offers.
    One homeowner after agreeing, came back at him, complaining there airwas no air conditioning , and wanted reduced price to have it installed.

    I love it my friend said hey I wanted air conditioning too but I couldn't afford it and it's NOT in the house so the (deals off and hung up) and sold it to somebody else.


    The buyers here think they have some traditional or perceived leverage.. they have so much money

    It's Calif.
     
  19. ClemsonsR6

    ClemsonsR6 Well-Known Member

    Says the guy who makes a six figure salary picking up dog shit.
     
    auminer likes this.
  20. auminer

    auminer Renaissance Redneck

    It's high fives, to be clear, but I'm sure that's going to take a hit if inflation hangs around for a bit. We were at an all-time record high customer count about a month ago, May 1st is historically our high point for the year, but this year's drop off is pretty steep so far.
     

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