Realtors = the most incompetent "profession"?
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Date: August 2nd, 2015 9:59 PM Author: Flatulent trump supporter
"selling agents aren't doing anything you can't do yourself"
well they do list it places you can't list, plus if you don't live in the house anymore they arrange key exchanges for people to come inspect the place
but yeah, when my wife and i move, i imagine we'll use a realtor to sell our house, but since we know the neighborhood we want to live in, we'll go without an agent for buying and just make otters and keep the 3% that would otherwise go to a realtor
hell, we might just make otters straight up to owners who aren't even selling if we really want a certain place
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28465409) |
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Date: August 2nd, 2015 5:51 AM Author: primrose office messiness
ljl @ this
so you get more than you would without them, but they don't add value?
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460789)
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Date: August 2nd, 2015 8:46 AM Author: Mauve harsh address ladyboy
I don't think that's true
I think you're underestimating the degree to which people do their own home searches
if there is a house online w/ pretty picture the wife will find it and tell their agent they want to look at it
(I know that's how we did it)
we've listed property with both an agent and a flat fee service, I didn't keep careful stats about it, but if there was a difference in that rate of people coming to see our house, I didn't notice it, we got plenty of buyers with agents who came through our house when we used the flat fee service (we did offer a buyers commission though)
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460921) |
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Date: August 2nd, 2015 10:02 PM Author: Flatulent trump supporter
"The problem is that buyers' agents generally wont even tell their clients about listings that don't have a seller's agent. "
uh what dumbfuck lets their agent pick the houses out for them, my wife and i just knew where we wanted to live, scoped out the shit for sale there, instructed our agent to take us there (it was our first purchase, and bought cheap, so we didn't want to have to navigate the whole thing ourselves)
next time we're going to do it all without an agent
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28465432) |
Date: August 2nd, 2015 7:39 AM Author: charismatic native liquid oxygen
MFCOP
Makes my blood boil just thinking about how these incompetent leaches still exist.
There should be an Uber for home sales that shuts the whole realtor racket down.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460852) |
Date: August 2nd, 2015 7:45 AM Author: Hyperactive area
95% of realtors are functionally retarded or retirees/stay at home moms who treat it like a hobby so they can pretend they have a career. The 5% who are competent and smart make a killing.
When I was looking for my house, several realtors I called about listings never even returned my call. I've often thought that if someone with social skills went from biglaw to realtor and applied the same level of responsiveness and diligence, they could make an absolute fortune.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460855) |
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Date: August 2nd, 2015 12:45 PM Author: Shivering crotch
If your place is in a good location it's easy as fuck to sell without an agent. Most people nowadays check out homes by finding ones they like on zillow and trulia and hitting up open houses or scheduling visits themselves. Yes, some rely on agents to find places but again if your home is located in an in demand city you are still going to get plenty of traffic.
My buddy sold his hoboken apartment without involving any agents. It was listed for a week, resulted in a bidding war and he got significantly over asking.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461953)
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Date: August 2nd, 2015 8:25 AM Author: Mauve harsh address ladyboy
we used a flat fee brokerage last time we sold our house, worked great
https://www.simplechoicerealty.com/
we offered a buyer's agent commission, but people who bought it didn't have an agent, so we wound up not having to even pay that
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460894)
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Date: August 2nd, 2015 8:50 AM Author: purple milk
Realtors have managed to construct both American public opinion and American tax policy in ways that are obscenely favorable to their profession, and often make huge amounts of money doing relatively straightforward work.
Does this make them incompetent, or does it make them in fact one of the most competent professions in America?
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460931) |
Date: August 2nd, 2015 9:30 AM Author: Trip garrison Subject: Why would a buyer's agent show your fucking
house if you aren't paying them the 3%?
Realtors don't want to work for free.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460993) |
Date: August 2nd, 2015 9:32 AM Author: Trip garrison
AT least in MFH many of my friends who all used the same "rockstar" broker (realtor) say that she was invaluable.
Now mind you these are friends who make well into the six figures and just don't want to spend their weekends schlepping around the city.
And this was rentals so maybe different but they gladly paid her 15% commission. Said she took, "all the pain out."
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28460994) |
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Date: August 2nd, 2015 9:40 AM Author: Trip garrison
Let's say I own a condo that I want to rent. Why in hell would I want to deal with the public directly?
I'd much rather give the listing to a trusted real estate agent and let them meet you, qualify you, and rent you.
Just send me the lease to counter-sign and the rent check.
What's so hard to grasp?
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461019) |
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Date: August 2nd, 2015 9:57 AM Author: Trip garrison
Typically, if the renter has his own agent he'll still pay the same fee (15%) it'll now just be split 50/50 between the lessor's agent and the lessee's.
Let's assume I make 300K a year in NYC working 80 hours a week. Rather than calling landlords (good luck actually reaching the real owner) or lessor's agents to check out properties. Wasting lot of time here. Cancelled appointments. Less than honest pics/descriptions.
Why not call a trusted broker and say, "I want to live below 14th street. One bed. Walkup on top floor. Lots of light and character. I'm available this tuesday from 6-7. 5K budget"
Assuming my broker comes through I'd gladly pay the 15%. Huge time saver.
And the lessor's agent provides a lot of service to the tenant. Mainly by competently renting them.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461095)
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Date: August 2nd, 2015 10:09 AM Author: Trip garrison
I think that's a great idea. I'm just saying that most don't have the knowledge or inclination to do that.
In practice I don't think seller's agents actively work against a renter. Lots of information is already out there and that wouldn't be wise for the long term. (Like lease renewal)
And yes it is priced in. Plenty of buildings in midtown west (like silver towers) where you can just walk in, rent a unit, without paying a broker fee.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461150) |
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Date: August 2nd, 2015 10:16 AM Author: Trip garrison
I have some sympathy for you in this case. Let me guess: Mercedes House? (Read your post wrong. Oh you live in MiMA--nice building!)
I wonder if he double dipped? Building and you paid him a fee?
I think brokers are less valuable in that instance. But let's say he showed you 10 places. Some like MiMA but some mom/pop places. I think that provides value especially if he educated you on the market.
Let's assume he took you out multiple times, listened to you carefully and forcefully acted on your feedback would you think it right if you said, "thanks for educating me and helping me. I'm gonna undercut you by just going to MiMA directly."
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461175) |
Date: August 2nd, 2015 9:53 AM Author: razzle cheese-eating hell
sites like streeteasy have been making it easier and easier to bypass brokers in certain cities (and some brokers have tried to adapt by acknowledging that they don't do shit and will split their commissions with clients)
too bad millennials are so fucked because once more and more of them are in a position to buy properties they will rely more on resources like streeteasy and brokers will hopefully be fucked
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461076) |
Date: August 2nd, 2015 10:19 AM Author: lilac school
Agree 100% - the hotter the market the shittier and more blasé their attitude
One friend who is an experienced investor told me that his strategy is to use the sellers agent (dual listing??) and negotiation to shave a few % off of the fee structure. If you are doing something all cash it's also easier and same with premium properties.
Most realtors are fucking scum pieces of shit though - fuck them
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461183) |
Date: August 2nd, 2015 10:26 AM Author: Walnut marketing idea
we used a "rockstar" realtor to buy in a booming (non-NYC/Cal) market. she:
- consistently tried to show us houses 20-35% above our budget
- was constantly pushing the deal (out of the few dozen places we looked at, I don't think there was a single one where she said "no don't buy that one")
- recommended we use her husband as our attorney (we openly LOLed in her face)
- got frustrated and left the room when I said I was going to read all the shit I had to sign at closing (which I had repeatedly asked for in advance)
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461224) |
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Date: August 2nd, 2015 10:37 AM Author: lilac school
I had to deal with this recently - I made a mistake telling a friend who JUST got his realtors license that I was begining to look for properties at X price.
Queue a constant barrage of properties that were priced sometimes at 2x in neighborhoods I had zero interest of looking in or buying in.
Just an endless torrent of shit properties that were overpriced - and then when I showed him properties I thought looked halfway decent at a price that was BARELY acceptable he showed those to OTHER clients
There was a month where he was sending me random listings that I had already seen and I asked him point blank if he had access to any types of listings that I didn't through Redfin/Zillow - his answer? No.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461293) |
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Date: August 2nd, 2015 1:00 PM Author: razzle cheese-eating hell
so make it by appointment only which cuts down on those who are not serious or just have limited open house hours
if agent is handling everything, i don't care if 5 people come through or 500
with street easy, comps and "knowledge of market" is a week of casual browsing
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28462047) |
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Date: August 2nd, 2015 1:09 PM Author: razzle cheese-eating hell
maybe true at high-end of market where there's going to be a very limited number of potential buyers and they are the types that won't put nay independent effort into looking, but i do not think this is at all true in nyc for most price ranges
when my wife and i were buying our place, we tried looking through a number of agencies/brokers, and not a single one was able to show us anything that wasn't already on streeteasy. you honestly think streeteasy only shows "the bottom 50% of properties"?
and listing can create bidding wars. if you look at uptown 2-bedroom market, for example, you'll see a ton of bidding wars over places that were initially listed as slightly below market and thereby enticed ton of people
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28462096) |
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Date: August 2nd, 2015 1:27 PM Author: razzle cheese-eating hell
why do i see agents at both of those firms listing stuff on streeteasy all the time?
somewhat dated article but: http://therealdeal.com/blog/2010/09/01/after-losing-ground-online-rebny-plays-catch-up/
Brokers in the secretive New York real estate market once had a monopoly on listings information here — in order to find out what was for sale, customers had no choice but to come to them. Yet over the last few years, the pendulum has swung far in the other direction. Indeed, as it struggles to enforce its rules and enact new initiatives that all members agree on, REBNY — and by extension, the industry itself — appears to be losing the battle for consumer eyeballs to outside aggregator websites like StreetEasy.com and PropertyShark.com.
At first, these sites were shunned by brokers, but now the majority of the city’s firms — including the two largest, the Corcoran Group and Prudential Douglas Elliman — feed their listings directly to StreetEasy several times a day. Meanwhile, REBNY’s searchable public website, ResidentialNYC, still only has about 70 percent of the city’s listings. And while Corcoran joined earlier this year, Elliman still has not signed on.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28462192)
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Date: August 2nd, 2015 1:44 PM Author: razzle cheese-eating hell
was focusing also on that everyone seems to use streeteasy these days and seem to be using it right from start of listing process
as more and more buyers and sellers begin to rely on sites like streeteasy, i don't see why any seller would tolerate their agents playing bullshit games like the ones you describe
if my wife and i were selling our place and decided to use an agent who tried telling us that we shouldn't list publicly, i would tell them to gtfo. even if they had ready buyers i would still do a market check to see if i could do better even if buyer were coming in with a good number
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28462286)
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Date: August 2nd, 2015 10:32 AM Author: Shivering crotch
Yep realtors represent an unnecessary transaction cost that it necessitated by their control of the market and (now less so) withholding of information. The Internet has made realtors completely useless.
What makes them worse is that once an offer has been accepted the realtors interest is actually different than the party they represent. Realtors are shit. It's a job for a bored housewife who can no longer justify sitting around all day doing nothing.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28461265) |
Date: August 2nd, 2015 7:06 PM Author: Soul-stirring Twinkling Uncleanness
Protip: In NY an attorney can register as a licensed real estate broker by completing an application and paying a small fee to the state.
Getting a 40k+ purchase price adjustment at the closing of my apartment while watching the Corcoran sellers broker stew at ONLY getting a 40k+ check was a PEAK life experience.
You really have to feel for the attorneys who put a decent amount of work in and get like $800 but that's the game I guess.
In NYC having a sellers broker is probably worth the money given all the stupid foreign buyers who use agents who won't buy from anyone who doesn't have an agent. But LOL @ the people ITT suggesting that a buyers broker adds any value at all. They run the same street easy searches as you do and end up just being another adverse party in the room trying to pressure you into paying as much as possible so they can get paid off.
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28464159) |
Date: August 2nd, 2015 7:35 PM Author: maize marvelous stead telephone
Why don't the great minds of our bort get together and make an app/service to pwn these leeches? I'm fully on board
Realtors are scum
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28464340) |
Date: August 3rd, 2015 12:59 PM Author: Talented blood rage kitty cat
everyone thinks it can be done for less than 6%
it's often attempted
when attempted, it fails for whatever reasons. always.
if you can't beat them, join them
(http://www.autoadmit.com/thread.php?thread_id=2951770&forum_id=2#28469171) |
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