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  1. #21
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    The frustrating part as someone who has used realtors quite a bit is that they hold a monopoly on the data and they make it hard to obtain information when it does not have to be.

    In the past I worked with Robert who started Bode (https://www.bodecanada.com/whoweare). Curious what a realtors view on a company like this is? They're very likely well capitalized....

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    I think a realtor can add some real value to a transaction. I've been happy with mine the last time I needed one. However, based on discussions I've had with people, there's a lot of shitty realtors out there. The shitty ones add zero value.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by pheoxs View Post
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    So I don’t think someone should be allowed to look at a house alone, that’s stupid. But I don’t see why a selling realtor doesn’t have that responsibility to earn their commission

    But I seriously don’t think a buying realtor should have a place in the system anymore. I view them like travel agents; if you want one go ahead and use it but don’t punish the people willing to put in leg work.

    A proper house inspector will find more issues with a home than a realtor will and a lawyer will provide better value to review the legal side of things and/or provide info on the reserve fund if applicable.

    I’d much rather save the embedded cost of a buying realtor and expect to view more houses and pay a inspector multiple times to see a few houses as that’d still come out cheaper.
    The problem is that it will be hard to get the seller to reduce the price by that amount or write you a check. I ended up bringing in a buying realtor to write the offer at the end and then we split the commission. I was willing to use a lawyer, but the seller wasn't willing to drop the price to compensate my lack of realtor, so they ended up paying me and my realtor. stupid people.

    Contacting the selling realtor for a showing was a bit weird. But I can confirm, hardly any of the ones I met knew the house well. They all did try to sign us up to use them as a buying agent so they could show us more or double dip on commission.

    Mind you, this was me buying into a market that I was extremely familiar with. Moving to a new city would probably be a different story when you are relying on someone who knows the areas.

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    I don’t even have time to sell my car on kijiji, let alone my house.

    Money well spent.
    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.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by Mitsu3000gt View Post
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    When I sold my first house I thought this was how it worked actually, I was genuinely surprised to learn it wasn't. Originally I thought that was a big part of what you were paying for, but now I understand that you are basically paying for traffic and good marketing.

    I can see both sides of it though - on one hand the potential buyer wants to be able to speak freely and point out any concerns, without the pressure of a selling realtor there who wouldn't have their best interest in mind. On the other hand, without the seller or selling realtor present, the potential buyers end up making wild assumptions, some of which may rule out your home in their eyes for something that isn't even an issue, and you never get an opportunity to explain or defend the perceived issue to put their mind at ease.
    Yeah, it's such a giant scam when the realtor listing your house claims to be "selling" it. Yet, they'll never actually meet with anyone interested in buying the house. Instead, they'll leave the actual selling of your home up to some other random realtor who has never stepped foot inside of your house For this half-assed selling service, they feel entitled to a giant paycheque.

    It's like applying for a sales job with a real company, getting the job but then sending some random stranger in to do the job for you. No company would put up with that but, because of the realtor monopoly, this garbage system is what anyone selling a home is stuck with.

    Fucking realtors are the worst form of people. Making an entire living out of being "that kid who joins your team project the day before it gets turned in, does some trivial fringe tasks and gets an A+ off the backs of the rest of the team".
    Last edited by RedDawn; 10-03-2019 at 01:04 PM.

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    Quote Originally Posted by 89coupe View Post
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    The random realtor is licensed. He/she has to go through a background check, licensed, bonded, insured. The moment they access a lockbox their information is recorded, they become liable for that property.
    These all sound like the same arguments taxi drivers used against Uber.

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    I wouldn't even think of doing real estate transactions without a Realtor, I've gotten more value on each end of sales by having an extremely competent and experienced agent working with me than I ever could have on my own. However that is also more value than I ever could have gotten with any of the several hundred shit agents in the City too. Watching him school other agents because he already knows what their next 3 communications are going to be is consistently priceless. So pick your professional because there are pros and amateurs just like anything else and your results will reflect your choice.

    That's the only $0.02 I have on that, convincing someone who hates Realtors of anything different is as useless an effort as the tipping debates. Or politics with Toma.
    Last edited by JRSC00LUDE; 10-03-2019 at 02:55 PM.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

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    Quote Originally Posted by 89coupe View Post
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    I think for those that feel it’s so easy to list and sell yourself should just do it haha.

    You have all the resources available to you that allows it.

    There is no monopoly.
    I don't think anyone has said that, it just seems like you are dodging my questions. You said that a random person viewing a home would be huge liability, so why do you think that an open house with more than 1 person in it is not an even bigger liability? At least with the former scenario, the person would be registered or licensed or whatever and you would know who they were. In neither case would there ever be an actual consequence for damage/theft as it would be too hard to prove.

    Again, we are talking about being able to book private viewings as an individual, not becoming an actual realtor and selling homes to other people.

    There absolutely is a monopoly on the market.

    For the record I am happy with my realtor experiences so far, but I think the industry as a whole would benefit from greater overall flexibility.

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    A good realtor can be a great asset, a bad realtor can be...well, bad.

    The problem I have now is the point of having a realtor to buy or sell is almost trivial on account of everyone is just looking online at houses and only want to see what they are finding themselves...I'm sure this can't be said for every single person and there is value in some cases where a realtor can hook you up with a viewing before a property hits MLS but still.

    Having an agent sit on your listing and doing nothing to sell it and when it eventually goes, him/her making thousands, tens of thousands of dollars is disgusting.

    To me it would be finding my ideal home by searching on realtor.ca and having a realtor show me said home and buy said house. Both listing and buying agents make thousands of dollars for showing a place and doing some paperwork?

    Again I see value in certain cases but I don't know how the career stays afloat long term when services such as property guys/purple bricks/xyz similar company are available and becoming more popular.

    I don't want to offend any realtors, my older sister recently went through the course and is becoming an agent but I'm still ??? at the overall process of tons of money going out via commissions where they might not be warranted in a lot of cases.

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    Quote Originally Posted by 2Legit2Quit View Post
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    Again I see value in certain cases but I don't know how the career stays afloat long term when services such as property guys/purple bricks/xyz similar company are available and becoming more popular.
    The only problem with those types of services is that some realtors won't even show your house to their clients if it's third party listed (the good ones still do I am sure, but there are still many that won't). We have two separate friends who tried the "cheap" route, got professional photos, offered a flat commission in the MLS listing, and had zero showings. They got a realtor (the only change), and all of a sudden they started to get showings.

    I think another area where a realtor can add value is if you have to sell your place on a specific timeline - it's easier to go the self-sale route if you aren't in a hurry. That was the situation I was in with my first sale and I feel like I benefited from having a realtor. It is hard to wrap your head around the dollar value of the fees though, for sure. I get that the realtor only gets a portion of that (rest goes to selling realtor and the office they work for) but it doesn't make it any easier on the seller's wallet haha.

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    TIL I can do my Christmas shopping at open houses this year.

    Seriously though, I was fortunate enough to be able to sell my previous home empty. While damage could still occur I wasn't a fan of the thought of strangers potentially going through my stuff. I've never heard of things being stolen from showings or open houses but it must happen.

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    Quote Originally Posted by Mitsu3000gt View Post
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    I don't think anyone has said that, it just seems like you are dodging my questions. You said that a random person viewing a home would be huge liability, so why do you think that an open house with more than 1 person in it is not an even bigger liability? At least with the former scenario, the person would be registered or licensed or whatever and you would know who they were. In neither case would there ever be an actual consequence for damage/theft as it would be too hard to prove.

    Again, we are talking about being able to book private viewings as an individual, not becoming an actual realtor and selling homes to other people.

    There absolutely is a monopoly on the market.

    For the record I am happy with my realtor experiences so far, but I think the industry as a whole would benefit from greater overall flexibility.
    I’m not dodging your question, I just don’t get your thought process.

    When I host an open house, I’m responsible for that open house. I see everyone in, through and out.

    It is my responsibility.

    Allowing a random person in a house unattended is crazy.

    How do you think there is a monopoly. You have the same tools as a realtor to list a home and buy a home.

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    Quote Originally Posted by 89coupe View Post
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    I’m not dodging your question, I just don’t get your thought process.
    Allowing a random person in a house unattended is crazy.
    You mean like AirBB? Seems like a registration, insurance, and rating system would solve all the problems and be cheaper than a realtor.

    Industries that try to suppress technology instead of embracing it are in for a rough time in the next decade.

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    Quote Originally Posted by blitz View Post
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    You mean like AirBB? Seems like a registration, insurance, and rating system would solve all the problems and be cheaper than a realtor.

    Industries that try to suppress technology instead of embracing it are in for a rough time in the next decade.
    Who is trying to suppress it? I embrace technology, and the technology is there for you to use it.

    I just signed up for Airbnb, I had to provide a government ID, a credit card, phone number and an email address.

    I also have to pay to use the property, I’m not sure what you are getting at?

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    Quote Originally Posted by Chandler_Racing View Post
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    The frustrating part as someone who has used realtors quite a bit is that they hold a monopoly on the data and they make it hard to obtain information when it does not have to be.

    In the past I worked with Robert who started Bode (https://www.bodecanada.com/whoweare). Curious what a realtors view on a company like this is? They're very likely well capitalized....
    I've been keeping an eye on Bode for a while. I think it's clear to anyone that's paying attention (or doesn't have their head ignorantly buried in the sand) that the real estate market is ripe for disruption and the features being offered by the likes of Bode are just the beginning. Once these incremental changes gain traction, the flood gates will open. Any one involved with the RE industry would be well advised to pay very close attention to these developments and get in front of the change, rather than stubbornly sticking to a clearly outdated & inferior model.

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    Quote Originally Posted by 89coupe View Post
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    Who is trying to suppress it? I embrace technology, and the technology is there for you to use it.

    I just signed up for Airbnb, I had to provide a government ID, a credit card, phone number and an email address.

    I also have to pay to use the property, I’m not sure what you are getting at?
    The AirBB system lets strangers into your house alone and provides both insurance and a feedback system. You're arguing letting strangers into your house alone is a a bad idea. I'm suggesting the model AirBB uses could be modified to also be used to book showings.

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    Quote Originally Posted by 89coupe View Post
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    I’m not dodging your question, I just don’t get your thought process.

    When I host an open house, I’m responsible for that open house. I see everyone in, through and out.

    It is my responsibility.

    Allowing a random person in a house unattended is crazy.

    How do you think their is a monopoly. You have the same tools as a realtor to list a home and buy a home.
    When you host an open house with more than one person in it, how do you keep eyes on everyone 100% of the time? You can't, though no fault of your own - it's impossible. What if you have 3 couples in there - do you make 5 of them them wait outside so you can take people though individually? If someone drifts to a different room do you tell them to get out of there? I've never seen an open house set up like that. What if the homeowner claims someone stole a $20,000 piece of jewelry during an open house and how would they ever prove that well enough to be reimbursed?

    What we're proposing (hypothetically) is a system where you register yourself (via driver's license or whatever else), and then you can freely book showings yourself. There would be record of who is visiting, and those individuals would be liable (ha!) for any damage/theft that occurred during that showing period. How is that a huge liability, but a random person off the street with no record of their attendance wondering freely in an open house not a problem?

    Literally every open house I have ever been in, even if just one couple is there, they are sometimes in different rooms. There is no way for the realtor to watch them at all times. How is letting a licensed/registered person in a house unattended crazier than letting a random person off the street into a house, also unattended?

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    Quote Originally Posted by blitz View Post
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    The AirBB system lets strangers into your house alone and provides both insurance and a feedback system. You're arguing letting strangers into your house alone is a a bad idea. I'm suggesting the model AirBB uses could be modified to also be used to book showings.
    Would you pay a company to allow you to view a house? Provide them your ID, a photo of yourself, phone number, email address?

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    Quote Originally Posted by 89coupe View Post
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    I think for those that feel it’s so easy to list and sell yourself should just do it haha.

    You have all the resources available to you that allows it.

    There is no monopoly.
    I'm just curious what deludes most realtors into thinking they provide some exceptional service? I'm not saying some realtors aren't actually worth the money, because a couple of them actually are. I don't know you personally, so not a jab at you by any means. But 99% of realtors do absolutely nothing. They stick a sign in the lawn, and then act as a middle man to inform me when a showing realtor wants to show the home, which actually makes it more difficult to book the showing to begin with. If the showing realtor just called me directly, he/she could get a showing time for their client that much quicker.

    The odd 1% of realtors will actually SELL the house, because they have a rolodex of investors they can contact whenever they get a listing.

    Anyone stupid enough to leave their house a mess, or not make an attempt to stage it for curb appeal, isn't going to be helped much by some realtor saying "Hey Bud, you should put away the evidence of a dog living here and spray some Febreeze". Which is pretty apparent of the numerous houses I've looked at that were realtor listed.

    The real estate industry is like Mafia racketeering. A lot of realtors will just not show your home to their clients if they see it is listed with some low or zero commission sales service. So using a realtor is like paying an extra 10,000$ "Showing Fee" to allow potential buyers to actually be shown the home.

    As for open houses and OP's question. Any realtor that I have known has told me that open houses are for marketing purposes, it allows them to hand cards out. Not many sales take place due a random walk in at an open house. Personally I wouldn't even let a realtor set one up if I was selling.

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    Quote Originally Posted by 89coupe View Post
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    Would you pay a company to allow you to view a house? Provide them your ID, a photo of yourself, phone number, email address?
    Why would anyone worry about confirming their identity one time so they can go view 100 houses if they want? No to the fee, but if I was selling my home I'd be a hell of a lot more inclined to pay a 100$ fee to some company that tracks peoples entrance and insures my stuff, as opposed to letting dozens of strangers waltz through my house unattended.

    I'm not sure you know how things like Uber or Airbnb work? The tenant or passenger does not pay a fee. The home owner or driver pay the fee for access to clients.

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