6% seller's fees. Good riddance.

Yes indeed. A prudent realtor would, for sure, @gixxerboy55 .
I was attempting to point out that someone selling FSBO without a realtor or attorney may accept the first offer they receive, and the contract might be written in a way that does not allow them time and options to void this contract for higher offers.

 

That works the other way too...where as the buyer you need to beat the shit out of your realtor for showing you houses above your budget...or doing the fear tactics that you need to put in a bigger offer to secure the property....

Fuckers should be paid based on how much they knock the price down when working for a buyer...

 

Okay Arnold

 

Just like sales in other markets: some will try to make $$ on volume, some will try to make $$ on higher % profit.

 

A couple things here.

First for those who are buying a house, you’re not doing yourself any favors by not having an agent. The sales commission is already agreed upon when the seller signs the listing contract. If you don’t have an agent, the seller’s agent just keeps all of it.

Second, I’ve been an agent on around 50 transactions. I would venture to guess that somewhere in the neighborhood of half of those would never have made it to closing without my representation. There’s a lot more than just signing the contract and moving on. Lots of things come up with inspections, appraisals, financing, etc that require skill and knowledge to navigate. Also in those bidding wars, a good agent can make all of the difference. It’s not always just the biggest number that wins. Tactics and negotiation go into all of that.

With all that being said, I’d bet that 90% of people with real estate licenses don’t know jack shit about buying and selling houses. The licenses are too easy to get and most of the people I deal with are morons. Many many times I’ve had to do the work of the other agent to get a deal done. That’s probably why this lawsuit happened and why so many people have a bad opinion of realtors. I am fortunate enough to have been an investor myself, and an attorney as well. Nothing I learned from a bullshit online real estate class made me a good realtor. Experience did that. So an experienced realtor is worth a lot for most people. But to each their own…

Oh, and if you’re selling FSBO, I’m not doing all of the work for both sides for free.

 

If there's one profession I hate more that RE agents, it has to be lawyers! And attorneys are lawyers with a fancy piece of paper that has their name on it!

[j/k!]

 

You know that was said by the wannabe tyrants in Henry IV, right? It's sarcasm or, at minimum, a warning that civil society dies when the rule of law does. https://lithub.com/what-did-shakespeare-mean-when-he-wrote-lets-kill-all-the-lawyers/

Lawyers charge a pretty penny, but at least they do so based on time spent. Try to get a real estate agent to work on an hourly-fee basis, and you'll soon learn their lack of worth.

 

I have seen both sides of the listing agent. My first one was worthless and gave bad advice on an inspection issue. Our last one was amazing and included professional staging, photographer and an excellent listing description. The photographer came with a pro level SLR at the right time of day for the best light. Our house never looked so good. They made the remote closing go smooth as butter. Worth every penny.

 

We get it, you talk to the customers so the engineers don't have to...you're a people person

 

surprised it took this long. At least the monopoly seems to at least being addressed FINALLY.

Now the industry needs a website that really changes the game, where FSBO and agent listing are all together, and not fractured. Something almost like uber did with taxis, something that will change the game. Heck home auctions website like ebay.

 

You sir are the exception by a mile. 99% of realtors are BS artists.

 

You’ll get no argument from me! I wish I would have chosen a different profession, but it is what it is at this point…

 

Find someone willing to pay by the hour for a real estate agent… I would be totally fine working on an hourly fee basis.

 

I agree that the new rules are more fair to both parties.

But there's one thing that is not being considered.....A good majority of youngsters getting their first house don't have 20% to put down and end up with PMI. Or they do fannie loans. These same people are not going to have 6K in cash laying around for their first 200K house + new furniture and appliances.

Basically what I am saying is I think you'll slow down growth in the market in the lower level starter houses a bit. I don't see banks financing that into the sales price, but heck ya never know. This whole country runs on debt and money it doesn't even have..... maybe it'll sort itself out just fine.

On my island, we have lots now selling for 600-700. It's nuts.

Sell a million dollar waterfront home and the listing agent gets 60K. That's bananas.

 

My buddy at deer camp had never seen that movie. We only have a dvd player there so I always buy up used dvds when I see them at garage sales. He was laughing hysterically.

 

This is the issue far and away

 

What the hell is wrong with you people?

I love that movie.

 

The commission percentages were negotiable before. It's funny how media is presenting this as some "industry game changer" ruling. More people may start to negotiate with their agents, but ultimately it will still all be the same.

BTW Boat broker fees are 10%, but boat market is not as active as housing.