99% sure you wouldn't have got the house if your offer said the realtor gets $0 for being your buying agent.This quote is hidden because you are ignoring this member. Show Quote
99% sure you wouldn't have got the house if your offer said the realtor gets $0 for being your buying agent.This quote is hidden because you are ignoring this member. Show Quote
Likely but does that matter in the end? As a buyer it doesn't affect me because had I brought my own Realtor I still wouldn't have gotten that money.This quote is hidden because you are ignoring this member. Show Quote
What I see could've happened is:
Offer 500k /w my own Realtor -> Get out bid by someone else
Offer 550k /w my own Realtor -> Maybe we win the competing offers
Offer 490k solo and ask for them to not take the other half -> Probably get out bid by someone else
Offer 500k and let their Realtor take extra commission -> I got the house
In the end, the last is the favorable option for me as I never paid any more out of pocket. That's the game basically.
For comparison I've tried this a half dozen times this year (2024) and all of them told me to get a Realtor one way or another.This quote is hidden because you are ignoring this member. Show Quote
Every one of those listings sold for way over list and with no conditions as well.
To me the current pattern is pretty apparent.
Congrats on your purchase whenever that was though.
I can eat more hot wings than you.
I offer unrepresented customers 3 options if they want a home I’m selling.This quote is hidden because you are ignoring this member. Show Quote
Represent themselves
Allow me to represent them
Find another realtor to represent them.
I wasn’t referring to me.This quote is hidden because you are ignoring this member. Show Quote
Unpopular opinion - I don't actually have a problem with Realtor ® fees / commission rates, though there could be some changes with how they're contracted with sellers and negotiated behind the scenes with other Realtors ®. Earning ~1.5% for transacting hundreds of thousands, or millions of dollars worth of anything, in any other industry, will see at least similar commission rates, if not much higher (Fine art auctions - 20 points, per side!)
The problem is the level of professionalism and the lack of barriers to entry. Calgary has over 7,000 licensed Realtors ® and there are currently 3,600 active listings across all property types. There is not another market that exists with such an imbalance between product and participants. Can you imagine a car dealership with 40 sales guys and 20 cars on the lot? The general public - and the industry's reputation - would be far better off if there was a cull of the bottom 1/4 - 1/3 of agents...
This is a great takeThis 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
I raise this question with my brokers constantly.This quote is hidden because you are ignoring this member. Show Quote
The lack of professionalism is horrendous.
Part of the issue is the part time realtors, shouldn’t be allowed.
I think I brought this up before and was corrected, but... Aren't the brokerages at least partly to blame for this. My understanding is that the Realtors ®.need to operate through a brokerage, and the brokerage charges the agents for everything from desk fees (basically just to hang your shingle) to cuts of commissions... The better, more productive agents have leverage over the brokerages and can negotiate better terms, but for the bottom rungs of the dreamers that do approximately zero business per year, the brokerage is happy to take their fees... In fact, from the perspective of the brokerages bottom line, for every rock star agent, it's probably better business to have a couple dozen zero performers.This quote is hidden because you are ignoring this member. Show Quote
Is that vaguely right? How would you change that?
Will? They already do.This quote is hidden because you are ignoring this member. Show Quote
Helping to keep the monopoly going.
Ultracrepidarian
I’m not sure how other brokerages run their business, but at mine, the fees are the same for everyone $15000/year. If you want an office space at the brokerage you pay slightly more. $3000 more per year.This quote is hidden because you are ignoring this member. Show Quote
I don't have a problem with any of it. And I wouldn't knock another man's hustle. My point is that the disruption will come. Is it sophisticated ai integrated with automated enhanced realty tours with automated virtual staging?This quote is hidden because you are ignoring this member. Show Quote
Is it sophisticated multi variable algorithms combined with ai to get highly accurate dynamic pricing estimates?
Does your brokerage vet their agents on quality and productivity before allowing them to operate there? Or do they have some agents on the roster that sell <2 houses/yr?This quote is hidden because you are ignoring this member. Show Quote
In his defence he already said he don’t happy with his brokerage for not cracking down on the clowns
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
Not intended to be an accusatory post at all, I just think he misenterpreted the point you&me was making haha. It wasn't about the fee structure.This quote is hidden because you are ignoring this member. Show Quote
There is no downside for a brokerage to take on realtors, if they turn out to be shitty they can be punted in a moment's notice.
Well, it kind of was about the fee structure and 'Coupe confirmed my point... the brokerage - charging $15,000 per year to every warm body on the roster, regardless of productivity - has a motivation to have as many useless idiots in the office as possible. This is especially true if they take no part in the agent's productivity (commission split)... there's really no upside to actually having useful agents.This quote is hidden because you are ignoring this member. Show Quote
Who cares what my Realtor has for a personal reputation. He's got the Red/Blue logo on his business card, so therefore he must be good.This quote is hidden because you are ignoring this member. Show Quote
Were you part time when you made the career switch? And aren't most agents dabble in something else like prop management or proj management to offset slow business on buy/sell side?This quote is hidden because you are ignoring this member. Show Quote
Like how many agents really do it full time.
Should the market not regulate itself then?This quote is hidden because you are ignoring this member. Show Quote
If a "realtor" makes 2 deals a year and can't justify paying the brokerage fee, then they'll disappear.
Let your money speak as always. It blows my mind people choose to use clearly terrible realtors when pros like Jordan cost the same. Not to mention someone who knows what they're doing and can get your deal across the finish line adds a ton of value especially in this market.