When are we going to get rid of Real Estate Agents

[HMFIC_BROWSIN]

Agreed.

Biggest brainlet profession.

Pulling down $100k for a part time job that a downloadable app could do.

[Winston56432]

lots of dumb phuck bimbo enter the proffession

[Krackerjacked]

i thought I did pretty well, but I don't make 90k an hour.

6% of 1.5 mil is 90k

The individual realtor isn’t getting 6%
6% is thrown around like crazy but that’s generally the overall commission that is then split 3% between the agents.
That 3% is then split with their broker. Typically 80/20 with the 20% going to the realtor but that all depends on the brokerage.

[TuskV]

car salesman get the worst rap but real estate agents are truly the scum of the sales world srs

this

yeah real estate agents are worthless (srs)

and this

[Winston56432]

In my area they get insider advantage of things coming onto the market, they have faster and more access to information. These are critical and key in a market like mine, as everything here sells immediately and over asking, quite often hundreds of thousands over asking.

Source: friend is an agent and personal experience



Just lol at paying full price for an agent though, Id never do that. I just pay a fee for his access ability and do most of the leg work.

Actually considering getting a license myself

in vancouver

to be a realestate agent

you need to learn chinese

thanks Trudeau

[Dan_S]

Idk what it is but it seems to be the go to for middle aged women who have no career, women who failed at becoming a model or those who didn't like nursing.

I can see the value in some but the commission seems a bit out of control depending on how much the house is. Two can be putting in the same work but one that got lucky can make hundreds of thousands more.

This is the actual problem with real estate agents. It's the same concept as tipping.

Why are either of these based on the total dollar amount spent, and not a flat fee like just about every other profession?

[Dan_S]

Poor people can't afford "flat fees" for things like that

Imagine a poverty restaurant that costs like $5 for a meal and you have to give a $10 tip lol

Same with properties

They can't afford 6% of the sales price, either. But it comes off the equity. Same as a fee would.

[CanuckGame]

why did you agree to the commission they proposed? shoulda told em here's 5k and fk right off

When you step out of your mommy's basement and join the real world, that's when you can talk chit.

[jamalfudge]

Blockchain and smart contracts will solve this, srs.

[basedcap]

When I rented my apartment the real estate agent just met me outside the building and handed me the keys. He didn't even come inside "because of covid". I saw the place myself and then he just emailed me a standard lease form and was done.

He made $2000 easier than an onlyfans sloot.

[MisterDiapers]

When I rented my apartment the real estate agent just met me outside the building and handed me the keys. He didn't even come inside "because of covid". I saw the place myself and then he just emailed me a standard lease form and was done.

He made $2000 easier than an onlyfans sloot.

tbh you're an idiot for agreeing to a broker fee, but not you're fault entirely for this sht system these people have created

[r32gojirra]

so you sell a 1 million dollar house and the REA makes like 5k/hr

mirin

Lol at thinking you can get top dollar for a house in 4 hours

It’s almost as if you’re a poorcel who only has 1 house

It’s 2 per cent

Closer to 1.5 percent depending on capital gains taxes

Who cares

Idiots be like “I saved myself $20k in commission”

Yeah cool but you sold the house $50k under market

Well done retart

[blissful88]

Actually lol'd because it seems like 1/4 girls I've known became real estate agents, and they're all turbo sloots

[DstryEvrytng]

30mm?

That would be the one.
I know she seemed OK in the supp logs but fml that was brutal times.
Appreciate you remember bro. Srs.

[ApeMode666]

So your argument is that real estate agents who are bad at their job and don’t do anything are not adding value

Earth shattering revelation

worthless "professionals" in every profession

[SamIAm1892]

Starting to see many in my area that a lot of people are becoming real estate agents. No different then mopping up the floors at Mcdonalds. Everyone and their grandma is starting to become a real estate agent.

[DstryEvrytng]

Nah these are knock-down rebuilds

Renovating old houses is a losing game

Buy a block zoned for multi-unit, knock down the house and put up 3 or more in a desirable location

Slum lord millionhairs?

I think i watched half of that movie when i was a kid.

[lockdev]

I've been pondering this for a while now, but can't really seem to find a solution.

The only viable option would be to create an "Airbnb" type of listing site that instead of 6% fee takes like 1% and it's a DIY solution. They walk you through listing, title, etc etc but it's all automated.

I don't think there's a platform like this yet and remax and all those trash brokerages lobby against it.

Certainly RIPE for disruption to anyone who can figure it out.

Redfin and Zillow are trying.

Unfortunately they keep getting hit by corruption and a fukked up system. Realtors are a nasty bunch. They have powerful lobbyist and basically have partial ownership of a lot of politicians.

Instead of engaging in fair competition, they engage in the same game patent trolls and other large corporations play, by pushing for laws that enable them to sue the fuark out of competition. Zillow is constantly being hit will bogus multi-milliion dollar lawsuits from real estate agents and firms.

[r32gojirra]

Slum lord millionhairs?

I think i watched half of that movie when i was a kid.

Can’t believe people are so salty over some other people making a few bucks

Gees nobody tell this guy about crypto

[basedcap]

tbh you're an idiot for agreeing to a broker fee, but not you're fault entirely for this sht system these people have created

I didn't pay chit. It was paid by the landlord.

[MuscleXtreme]

Redfin and Zillow are trying.

Unfortunately they keep getting hit by corruption and a fukked up system. Realtors are a nasty bunch. They have powerful lobbyist and basically have partial ownership of a lot of politicians.

Instead of engaging in fair competition, they engage in the same game patent trolls and other large corporations play, by pushing for laws that enable them to sue the fuark out of competition. Zillow is constantly being hit will bogus multi-milliion dollar lawsuits from real estate agents and firms.

I was unaware of the lawsuits. I don’t see how they have any standing.

[punter16]

My problem with many realtors is that they are overseeing the biggest purchase of your life (in many cases) and most don't take proper responsibility for this. This is either due to a lack of professionalism, a lack of knowledge about what the hell they are selling, a lack of sales skills or they are just unethical. Individuals shouldn't be able to have this much impact on your life without the chops to do so effectively.

Examples:

1) Guy earlier in this thread that didn't get the washer/dryer. When it is your first house...you don't know that this is an option. The realtor should provide advice and work to get you everything possible. In this instance, the realtor should have said "Want the washer/dryer?" This is Realtor 101...ask about the appliances.

2) 50/50: "I know you offered $470,000 but the bank came back with $500,000. Let's split the difference." This is the line by many lazy realtors aren't working for you. They just want to close the deal and are trying to get it done as quickly as possible without working for you. You just lost $15K by agreeing to this. Hey lazy realtor, why don't you work for me and say "Hey bank...let's try $474,000". That is working for your client. Instead, most bust out the 50/50 rule.

3) "Sure it's 2000 square feet...the tax rolls say it is": This doesn't happen as much any more but 20 years ago, you could get screwed on this. Tax roll includes the garage for some reason, your realtor sucks and doesn't realize that you're walking in a 1500 square foot house instead of a 2000 square foot one. His tumorish inspector doesn't check, you buy the house and bang, you just lost 500 X average $ amount per square foot of the neighborhood when you resell.

4) Most realtors don't know construction: Bad add-ons, selling the house from 1946 with a giant tree next door that will invade your cast iron pipes, 5 layers of roof (can't resell that one), etc.

I could go on-and-on. The importance of a GOOD realtor is paramount for many transactions but unfortunately there might be 2% that are actually professionals and that also work in your best interest. The hard part is finding that right human as you don't figure out a lot of this stuff until you've gone through it.

Good ones are worth keeping as they point out all the above and can find you homes that you want before they hit the market.

[katya422]

Zillow is working on a product to basically remove real-estate agents. So I think a change is underway.

If your agent is just sending you listings you can find online and performing a walk-thru telling you they like the colors of the room, you have a bad agent.

My experience. Used a buyer's agent once and a seller's agent twice. First seller's agent the house was on the market forever; sold at a loss. Second seller's agent was reasonably competent. Buyer's agent was mostly worthless and had to do my own legwork to find a place.

You can find more information about a neighborhood on your own than you can through an agent. Agents will not supply demographic information as it can be interpreted as illegal.

If I want to find out by a neighborhood, I can look up crime stats, voting patterns, education stats, demographics, average home value, and if I want more detail, I can post up in City Data or Nextdoor.

I’ve never worked with an agent that provided me with anything of value outside of access to MLS. From which, I found my own house.

^^^
My experience w/the newb buyer's agent we were palmed off on.

Couldn't disagree more. Just lol if you believe govt statistics on crime in a neighborhood/city/state.

My agent would walk me thru each and every listing and list the pros and cons of the house. He'd take one look at a pipe, HVAC system, power panel and know what is original, what isn't, what's illegal, what isn't. When I saw a sump pump for a house on a hill, I was initially alarmed and he knew it was standard for the neighborhood. He knew building codes and where I should negotiate and why. He pointed out steps that were an inch too low, which allowed me to negotiate more. He even found mold hidden under a sink in a basement bathroom that I never would have noticed, so we walked. He knew which school districts parents preferred and why. He paid for himself a few times over.

^^^
My experience w/the agent we first met with.

Went through this w/my divorce attorney too. Initial meeting was w/the principal of the firm who I paid a retainer to. Then after one meeting w/my ex the work was delegated to other staff that dragged their feet while my living expenses, interest on debt, and legal fees ate up the small settlement I had been originally told I could expect.

I did a quick search and I'm not seeing it as a product yet on their website, but from my understanding yes, they would play an intermediary role. You can view the home online and walk-thru online.

I have a family member that does this for realtors already with a virtual walk thru taking tons of 360 photos or video. I obv. would still hire an inspector for the property if I were to use this method, and I can't imagine buying a house unseen personally, but the virtual walk thru is rather good. It would make it easier to do a side by side comparison of properties as well.

It's also one of the reasons I might be buying Zillow stock. For the most part, I can't figure out why consumers do what they do, but a recent WSJ article points out how terrible people are at buying homes right now and some consumers didn't even walk around the property before buying and end up selling a week later after finding problems.

Seems a little crazy that an in person walk through by the buyer (or a person designated by the buyer) isn't built in to the purchase process prior to closing. Swear I've always had a final walk through.

would zillow just be the online intermediary platform for this type of thing? would showings, etc people just be paid minimum wage to walk people through homes? (as they should)

Now you're cooking with gas. I can totally see an a la cart/fee for service type platform competing w/traditional agents.

- listing fee

- photography service (directory of local photographers)

- staging service (directory of local stagers)

- marketing service
* sign installed/removed (flat fee)
* lock box installed/removed (flat fee)
* scheduling service (monthly fee)
* showings (fee per showing, bonded showers paid a flat rate)
* open house (fee per open house, bonded showers paid a flat rate)

- negotiation service (professional who reviews offers for you, advisor/hourly rate)

- inspection service (directory of local home inspectors)

- appraisal service (directory of local appraisers)

You would want the people showing the property to be reasonably well spoken and presentable, to have a background check/bond, and to be safe themselves. It could totally be a gig type job for retirees and SAHMs equipped w/cell phones and a body cam. They could work through an app, use the app/cam to verify the photo ID of the person viewing the property before accessing the key box and letting them in the house, and then check in showing they locked up and left the property safely.

Most of it would be optional outside of the listing fee really. Upload your own pictures if you want to. Do your own staging if you want to, etc. etc.

To be ethical (and to avoid legal hassle and keep customers happy) there should be strong recommendations with the pros and cons of using a professional vs. DIY though.

Could be up and running PDQ I think.

Feel free to send me a check if you make this happen. :P

I think that good realtors would stay in business because their customers would recommend them as good value, while lousy ones would be less likely to make it.

[MuscleXtreme]

My experience. Used a buyer's agent once and a seller's agent twice. First seller's agent the house was on the market forever; sold at a loss. Second seller's agent was reasonably competent. Buyer's agent was mostly worthless and had to do my own legwork to find a place.



^^^
My experience w/the newb buyer's agent we were palmed off on.



^^^
My experience w/the agent we first met with.

Went through this w/my divorce attorney too. Initial meeting was w/the principal of the firm who I paid a retainer to. Then after one meeting w/my ex the work was delegated to other staff that dragged their feet while my living expenses, interest on debt, and legal fees ate up the small settlement I had been originally told I could expect.



Seems a little crazy that an in person walk through by the buyer (or a person designated by the buyer) isn't built in to the purchase process prior to closing. Swear I've always had a final walk through.



Now you're cooking with gas. I can totally see an a la cart/fee for service type platform competing w/traditional agents.

- listing fee

- photography service (directory of local photographers)

- staging service (directory of local stagers)

- marketing service
* sign installed/removed (flat fee)
* lock box installed/removed (flat fee)
* scheduling service (monthly fee)
* showings (fee per showing, bonded showers paid a flat rate)
* open house (fee per open house, bonded showers paid a flat rate)

- negotiation service (professional who reviews offers for you, advisor/hourly rate)

- inspection service (directory of local home inspectors)

- appraisal service (directory of local appraisers)

You would want the people showing the property to be reasonably well spoken and presentable, to have a background check/bond, and to be safe themselves. It could totally be a gig type job for retirees and SAHMs equipped w/cell phones and a body cam. They could work through an app, use the app/cam to verify the photo ID of the person viewing the property before accessing the key box and letting them in the house, and then check in showing they locked up and left the property safely.

Most of it would be optional outside of the listing fee really. Upload your own pictures if you want to. Do your own staging if you want to, etc. etc.

To be ethical (and to avoid legal hassle and keep customers happy) there should be strong recommendations with the pros and cons of using a professional vs. DIY though.

Could be up and running PDQ I think.

Feel free to send me a check if you make this happen. :P

I think that good realtors would stay in business because their customers would recommend them as good value, while lousy ones would be less likely to make it.

Did your agent refer an inspector and appraiser?

I found and hired my own inspector. The bank sent their own appraiser out.

In reference to Zman’s earlier post. It doesn’t really matter if a real estate agent can identify housing issues, that should be caught with a competent inspector. Maybe it’s different in the market now where houses are being bought “as-is” without an inspector.

[Holyfenix]

Property developer

I’ve paid $80k to agents in commissions so far this year alone

I’m a repeat customer so I pay around 2%

Lol at thinking I’m going to give up weekends to do showings

Lol at paying someone 2% to "show a house"

Some minimum wage pleb could do that job

[katya422]

Did your agent refer an inspector and appraiser?

I found and hired my own inspector. The bank sent their own appraiser out.

In reference to Zman’s earlier post. It doesn’t really matter if a real estate agent can identify housing issues, that should be caught with a competent inspector. Maybe it’s different in the market now where houses are being bought “as-is” without an inspector.

Actually now that you mention it the one time I used an inspector I looked for him and hired him. Bank assigned the appraiser.

The inspector pointed stuff out much like the agent in the quoted post. We didn't buy that house.

The house we did purchase we waived inspection after doing our own walk through. Experienced home owner though, and not completely unaware. That house was very clean and in good repair vs. the house that I got inspected which had been sitting empty a minute and looked a bit rough. Could have potentially bit us in the ass. It was a little bit of a gut feel thing about people who keep up their place and people who don't.

[_zman]

It doesn’t really matter if a real estate agent can identify housing issues, that should be caught with a competent inspector. Maybe it’s different in the market now where houses are being bought “as-is” without an inspector.

I'd rather have two competent people reviewing a house (agent and inspector) for first time buyer (me in this case). We walked away from many houses before having to call an inspector because of the agent's competence.

Have you ever bought a house or know the process? I'm not going to make an offer pending inspection and pay $4-500 dollars to inspect every potential house. In a good housing market, most people are paying cash with mom and dad's money...around here anyway. Good luck in your process though and feel free to hire an incompetent agent and get everything you look at inspected before hand and miss out on every house you look at.

You'll eventually end up like the buyers in the WSJ article, who become so desperate to find a place and you'll end up outbidding the value of the home and buying it before even inspecting.

[Victarion]

RE brah checking in. Most of us are scumbags, this is correct. Rarely will you find someone that actually treats the situation like one of the buyers/sellers biggest moments of their lives. Please though for the love of god if you are buying a home always pay for an inspection (and a title search/title insurance).

[MuscleXtreme]

I'd rather have two competent people reviewing a house (agent and inspector) for first time buyer (me in this case). We walked away from many houses before having to call an inspector because of the agent's competence.

Have you ever bought a house or know the process? I'm not going to make an offer pending inspection and pay $4-500 dollars to inspect every potential house. In a good housing market, most people are paying cash with mom and dad's money...around here anyway. Good luck in your process though and feel free to hire an incompetent agent and get everything you look at inspected before hand and miss out on every house you look at.

You'll eventually end up like the buyers in the WSJ article, who become so desperate to find a place and you'll end up outbidding the value of the home and buying it before even inspecting.

Yep, bought my own place. It’s fairly easy to look at a place and get an understanding of the condition it is in. It’s no big deal to spend $400 as insurance on a $400k house.

Not to mention, a real estate agent is motivated to make a sale as quickly and easily as possible. That’s like me putting my trust in a car salesman on the condition of a car rather than a mechanic.

[r32gojirra]

Lol at paying someone 2% to "show a house"

Some minimum wage pleb could do that job

Yes which is why they only get like $20k for up to 4 weeks of work

Our most recent listing sold right away but I’ve seen them sit on the market for months with showings week after week

Of course they can manage the risk by agreeing a sensible price with the seller up front but they can’t know precisely when the right buyer is going to come along and how much time they’ll have to invest to get the property into contract