What should it be?
What’s “fair”
What should it be?
What’s “fair”
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Significantly less than the current model. Realtors add a lot of value if they do their job properly... but they also shoulder absolutely zero risk, and have proven time and again that they employ shady sales tactics not fitting of fiduciaries.This quote is hidden because you are ignoring this member. Show Quote
It’s crazy considering most new homes in good neighborhoods are selling between $1-2.5M
Commissions between $17k to $40k per transaction, and that’s just one side.
Sell 20 of those a year
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I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Probably fits here. This will impact Canada, and treb will be the first place this lands.
https://apnews.com/article/national-...c3b429053a22c5
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Good. I hope something similar happens here.This quote is hidden because you are ignoring this member. Show Quote
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How will it impact Canada? We already have negotiable commission rates. There are no fixed rates.
Some people really need their hands held with these sort of things.This quote is hidden because you are ignoring this member. Show Quote
Ironically the kind of people who probably really need a realtor hahaha
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
Did you use a Realtor?This quote is hidden because you are ignoring this member. Show Quote
One take away from that is the seller / listing won’t set the commission for the buying realtor rather it’d be up to the buyer to negotiate it themselves with their realtor. That does seem like a reasonably smart change that should happen.
Absolutely, I get great value for the money from Beyonds #1 RealtorThis quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
There is the appearance of fixed rates, and anti-competitve behaviour by TREB, which is who will get sued first. The merit of those claims will need to be judged by someone smarter than me. I don't buy houses, so I am admittedly not an expert.This quote is hidden because you are ignoring this member. Show Quote
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lol, shots fired.This quote is hidden because you are ignoring this member. Show Quote
Except the rates aren't actually negotiable. Realtors advertise the rates are negotiable, but then deny all attempts to negotiate with canned gems provided by their broker like this:This quote is hidden because you are ignoring this member. Show Quote
"I don't work for free"
"I know my worth and won't move on my fee"
"A good agent will save your more money than you'll pay in commission so just pay full commission"
It's like Costco advertising "ALL PRICES ARE NEGOTIABLE" while telling all their cashiers to deny all attempts at negotiation. This means the prices aren't negotiable at all while Costco continues gaslighting the public that they are. Just like realtors and their "Negotiable" commission rates.
What value did you get for paying $xx,xxxx?This quote is hidden because you are ignoring this member. Show Quote
Ultracrepidarian
The settlement is also ending the "buyer's agents are free" lie that has been tossed around here and anywhere else realtors crawl out of the shadows:
From the settlement:
"prohibit MLS Participants, subscribers, and other real estate brokers and
agents accessing the multiple listing service from representing to a client or customer that
their brokerage services are free or available at no cost to their clients, unless they will receive
no financial compensation from any source for those services"
The best part is that the DOJ still has their coup de grace lawsuit on the go which will prohibit seller's agents from offering any form of compensation to buyer's agents. This will take a major step in freeing real estate from the financial leach that is the entire realtor "industry".
Average U.S. 6% commission cost per hour @ 40 hours:
$100,000 @ 6% = $6,000 or $150 hr
$200,000 @ 6% = $12,000 or $300 hr
$300,000 @ 6% = $18,000 or $450 hr
$400,000 @ 6% = $24,000 or $600 hr
$500,000 @ 6% = $30,000 or $750 hr
$600,000 @ 6% = $36,000 or $900 hr
$700,000 @ 6% = $42,000 or $1,050 hr
$800,000 @ 6% = $48,000 or $1,200 hr
$900,000 @ 6% = $54,000 or $1,350 hr
$1,000,000 @ 6% = $60,000 or $1,500 hr
Average U.S. 3% commission cost per hour @ 40 hours:
$100,000 @ 3% = $3,000 or $75 hr
$200,000 @ 3% = $6,000 or $150 hr
$300,000 @ 3% = $9,000 or $225 hr
$400,000 @ 3% = $12,000 or $300 hr
$500,000 @ 3% = $15,000 or $375 hr
$600,000 @ 3% = $18,000 or $450 hr
$700,000 @ 3% = $21,000 or $525 hr
$800,000 @ 3% = $24,000 or $600 hr
$900,000 @ 3% = $27,000 or $675 hr
$1,000,000 @ 3% = $30,000 or $750 hr
$xxx,xxx unconditional over list price in 72 hours was a good start.This quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
And you think that was specific to that realtor or the overall market conditions? Was it priced low to (A) sell quickly and (B) incite a bidding war?
I don't need answers to these btw
Last edited by msommers; 04-03-2024 at 07:20 AM.
Ultracrepidarian
I had the same experience with Jordan, and definitely attribute some of it to him. Obviously the market is the market, but he helped with staging, photos, etc. There’s zero chance it would have been marketed as well if we didn’t use him, and I would have spent lots of hours of my own time to get a worse outcome.This quote is hidden because you are ignoring this member. Show Quote