Realtor House Warming Gifts

[max_boost]

Lol it's not fair. They shouldn't make so much because they aren't skilled and add no value to the process. Hilarious. Wtf.

Anyone with half a brain can see how the top tier realtors excel vs the other 99%.

[mazdavirgin]

Originally posted by max_boost
Lol it's not fair. They shouldn't make so much because they aren't skilled and add no value to the process. Hilarious. Wtf.

Anyone with half a brain can see how the top tier realtors excel vs the other 99%.

I'm just pissed at how crooked the whole gang is over at the CREB. Bullshit statistics and blatant lies published in the news papers some of the stuff advertising posing as news articles. At the end of the day it's a giant crooked enterprise being run unethically since they have managed to corner the market on real estate transactions and there is no proper oversight of their organization. Hence why we get statistics that tell you it's always a good time to buy and housing is always going up

[killramos]

Honestly where did all this realtor hate come from?

Do people honestly think that Jordan doesn't work his ass off to sell a house for 5% above list in one day?

I know people who have their houses listed forints with price drop after price drop.

[/////AMG]

^It has always been there hasn't it? Even the realtor's in the UK are branded as scum and commission is usually at 1.5% if they're lucky, most negotiate down to 1%.

[sputnik]

Originally posted by killramos
Do people honestly think that Jordan doesn't work his ass off to sell a house for 5% above list in one day?

I guess some are just questioning the definition of "work his ass off".

[Sugarphreak]

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[Strider]

Originally posted by Cos
Now sell two or three houses which is what I hear is slightly above average and take off personal taxes. That is ~80 grand a year. Not bad but not great.

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I've heard from reliable sources that most realtors dont make much more than 35-40k a year. Very few make 6 figures, and very very few do the level of business Jordan does.

Not to pick on your post specifically, but whenever there's a debate about Realtor commissions, "average salary" always gets brought up, along with the classic Pareto principle - 20% make 80% of the dollars/sales.

But really, that has absolutely nothing to do with whether the standard 7/3% commission is reasonable or deserved. All that says is that there's too many low-volume Realtors in the profession who drag down the average (either chasing "easy money" and doing a terrible job, or doing it as a side gig or hobby).

If all of a sudden everyone could label themselves as an Engineer but only 20% could find jobs because the other 80% aren't qualified, the "average salary" would drop to $25k. Would that mean I'm entitled to a 500% raise because "I work hard"?

So the only point worth debate is whether Realtors earn/deserve the amount that they're paid.

Given that house prices have risen dramatically and people are doing more of their own shopping/research on the internet, they're doing less work for more money. Fair? Worth it? You be the judge.

[JRSC00LUDE]

Originally posted by Sugarphreak
The level of service and value doesn't add up, maybe some of you guys are ok paying somebody 400$ ~ 2350$ an hour out of your own pocket for somebody to basically fill in some forms, do some house sitting during open houses, and make some calls, but I don't see the value in it.

Well I guess the only way for you to determine that value is to do it yourself next time. If you get the sale amount that you would have via a realtor and sell it in the same amount of time then I guess you've got your answer and, you've paid yourself $400.00/hour.

My problem, as a buyer, is that I'm not going to deal with you directly. I'm going to get my Agent to represent me and look out for my best interests and if you aren't going to agree to that, I'm shopping elsewhere. I don't need to try and do it myself and cover all my bases to make sure I'm not getting fucked, I'm not a professional in that industry.

I look at it the same way I view my own industry. We have people price projects with us and then decide our profit/overhead is ridiculous. Why would they pay us that much to do "nothing" but line up their work?! When I see them open two to three months late and KNOW that their "I can do it myself and save all the markup/commission/whatever you want to call it" attitude cost them thousands, in addition to countless hours of their time/stress, I just laugh.

Sometimes you can't quantify value on a perceived $/hour basis.

[ercchry]

Originally posted by Sugarphreak


Lots of people work their ass off, that really isn't in question IMO... however not everybody makes 500$ an hour doing it.


Take my last home sale:

My selling realtor did 3 open houses, spent a few hours consulting, and did some background work which probably amounted to about 30 hours in total. They made 400$ an hour doing that.

The buying realtor didn't even show my home, the buyers found it during an open house and asked him to represent them afterwards. He spent maybe 5 hours on it tops... he made 2350$ an hour.


The level of service and value doesn't add up, maybe some of you guys are ok paying somebody 400$ ~ 2350$ an hour out of your own pocket for somebody to basically fill in some forms, do some house sitting during open houses, and make some calls, but I don't see the value in it.

basing an hourly rate off the successes is laughable.

total hours a year/total gross (after business deductions, before personal taxes) will give you a better idea of the hourly rate.

its like saying "oh shit, associate lawyers are so ballin! $120k a year fresh out of school!"... yeah, till you realize a "light" week is 80hrs!

[Mitsu3000gt]

Originally posted by Cos



Now sell two or three houses which is what I hear is slightly above average and take off personal taxes. That is ~80 grand a year. Not bad but not great.

I assume that some people the realtors dont make a dime on after all the work is said and done. I know they will make money on me because I am not that big of a pain in the ass. While I think the 7%, 3%, 3% is high, I've heard from reliable sources that most realtors dont make much more than 35-40k a year. Very few make 6 figures, and very very few do the level of business Jordan does.

What I dont like about the system, is it really 3x as much work to sell a 900k place as a 300k place? I understand that you cant screw the people who can barely afford a $200k place on the realistic fees and you probably have to overcharge the upper. What I dont like about the system is I feel that the 200 - 500k range is probably adequate but with the number of 750-1.5 mil houses around. I just dont see how it is THAT much more work to sell them. Proportionally anyways.

I personally think $40-80K for minimal skilled work and minimal education necessary is pretty damn good for any job, including Realtors. It is like ANY other job IMO, the people who are really good at it make the most money, and represent a small % of overall employees. The average people fail or don't do very well. That applies to most jobs/industries I would think. I think most Realtors making $40K a year after taking a quick course is exactly where they should be. The few out of each group that really excel will be rewarded, just like in any other job.

The ones that are extremely successful probably put in crazy long hours, which seems about right given the career path & education requirements (not putting anyone down, but that is how it seems to even out).

I also agree with you that with the higher dollar homes, commissions get out of hand much quicker.

I know my parents sold their last 3 homes on their own, very easily, and have never used a Realtor. They have saved probably $60-80K doing so - that is a huge amount of money to just give away in commissions.

[max_boost]

Lol sell your house fast, it's not the realtor, it's the market. Sell your house slow, it's the realtor, not the market.

So you need a higher education in order to justify a higher wage???? Lol

Sell it yourself next time baller

[Cos]

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[roopi]

I would gladly pay a realtor's commission just to avoid having to deal with the typical private sale purchasers. I could only imagine some of the responses people get when listing their house on Kijiji.

[Sugarphreak]

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[max_boost]

The question is then, can the realtor get you more? Lol

[Sugarphreak]

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[max_boost]

Home owners might think they are saving money but they might not be who knows.

Next time get a market assessment from the local specialist. Ask him a shit tonne of questions and then sell it privately hahaha that's allowed right? Lol

[JordanLotoski]

Originally posted by roopi
I would gladly pay a realtor's commission just to avoid having to deal with the typical private sale purchasers. I could only imagine some of the responses people get when listing their house on Kijiji.

Bingo..... The largest investment of your life your going to handle yourself? When an agent like me that does 100+ deals a year can take over to ensure a smooth process and possible get you more money as well.

Would you represent yourself when getting a divorce just to save the lawyer fees?.. No, the value is also there as a good lawyer can save you a ton of money.

This is a Pay to play world we live in...4.00 cupcakes and 6.00 coffee's.

Welcome to 2014

I have to get back to work...have a great day all!!

[sputnik]

Originally posted by max_boost
The question is then, can the realtor get you more? Lol

Perhaps that is how they should get paid.

$7k on the first $100,000 and 25% of whatever the house sells for over list.

[JRSC00LUDE]

Originally posted by JordanLotoski
This is a Pay to play world we live in...4.00 cupcakes and 6.00 coffee's.

$6.00 coffees?! Jesus Christ man, do you wipe up the spills with the homeowner's shirt after you take it off his back!!!!