Realtor Commissions

[dirtsniffer]

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One thing I notice time and time again with people who choose to list their home themselves or choose a discount brokerage is 9 times out of 10 the home is never shown at all.

Ftfy

[89coupe]

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One thing I notice time and time again with people who choose to list their home themselves or choose a discount brokerage is 9 times out of 10 the home never shows well or is over priced.

It’s either staged poorly, bad photos, dirty, or the price is out to lunch.

I recall one of my clients writing on a sell by owner home, in the end the seller was not willing to negotiate and the deal fell through.

Usually happens with self representation. They become too emotionally attached and are unwilling to negotiate.

Just to add to my first comment.

My buy clients always choose what homes they want to see based on a very specific criteria that is provided.

Top picks are always, priced well, good location, show well, and meet their criteria.

[Disoblige]

It is true. I see a dude on my street who tried selling a home with really shit pics, overpriced, clearly trying to cash in on the hot market and it's just embarassing lol. Did not sell even though I wish it did so he would move.

[danno]

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Just to add to my first comment.

My buy clients always choose what homes they want to see based on a very specific criteria that is provided.

Top picks are always, priced well, good location, show well, and meet their criteria.

I’ve always picked my homes and had a good experience with my realtor taking me there. Maybe if the buyer requests the realtor to find him homes they pick homes that provide commissions.

It’s more interesting the market these days seem to list houses to low and taking the highest offer, maybe a lower commission is required for these sales.

[you&me]

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People who think realtors are greasy havenÂ’t met enough investment bankers.

I don't think many people in general deal with investment bankers.

It comes with the territory in any high dollar transaction where there's representation. The difference with realtors and the IBs, is that the former is far more of a wild-west... With the latter, firm structure as a function of deal size means the industry is mostly self-policing... The real idiots don't get in the door as they can't be trusted to not fuck up a 8, 9, 10 figure deal... You don't just take a 3 week course, call yourself an investment banker and start pitching deals.

The same is probably true at the high end of the real estate market, where it seems a small group of (mostly) professionals take the majority of the deals. Again, it's self-policing... When there's 9 or 10 figures of annual business on the line, the idiots don't get a seat at that table. But outside of that top bracket, in the mushy middle, where you get the camera-phone-pic-taking, self-staging, grease balls... Ewww. Can you imagine the number of complete novice shitheads that 89Coupe must deal with?

[gwill]

I should write a book on all the shitty realtors I've had to deal with over the years. So many sleaze balls that think way too highly of themselves. The worst ones are the lazy bastards who have a photo on their business card that looks nothing like themself.

[killramos]

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I don't think many people in general deal with investment bankers.

It comes with the territory in any high dollar transaction where there's representation. The difference with realtors and the IBs, is that the former is far more of a wild-west... With the latter, firm structure as a function of deal size means the industry is mostly self-policing... The real idiots don't get in the door as they can't be trusted to not fuck up a 8, 9, 10 figure deal... You don't just take a 3 week course, call yourself an investment banker and start pitching deals.

The same is probably true at the high end of the real estate market, where it seems a small group of (mostly) professionals take the majority of the deals. Again, it's self-policing... When there's 9 or 10 figures of annual business on the line, the idiots don't get a seat at that table. But outside of that top bracket, in the mushy middle, where you get the camera-phone-pic-taking, self-staging, grease balls... Ewww. Can you imagine the number of complete novice shitheads that 89Coupe must deal with?

I was mostly trying to be funny lol

[bjstare]

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I was mostly trying to be funny lol

Well, keep on practicing.

[killramos]

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Well, keep on practicing.

One day at a time

[Kloubek]

They can and probably should offer a discount, yes. But there is no legal obligation to do so.

Don't pick a greedy agent.

[Rocket1k78]

If you got a hawt house you definitely need to negotiate those comms down in this market. Mines a fam friend and he straight up offered to sell mine for $5k because he said it would be pretty quick, it took 2 days.

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I’ve always picked my homes and had a good experience with my realtor taking me there. Maybe if the buyer requests the realtor to find him homes they pick homes that provide commissions.

It’s more interesting the market these days seem to list houses to low and taking the highest offer, maybe a lower commission is required for these sales.

Same, I told the realtor what we were after and they set us up on a search that would notify us of any house that met our criteria and after we saw the listing we'd call him and say we wanted to see it.

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I should write a book on all the shitty realtors I've had to deal with over the years. So many sleaze balls that think way too highly of themselves. The worst ones are the lazy bastards who have a photo on their business card that looks nothing like themself.

Why do the older realtors do this lol Mines the same, hes not a sleazeball but his pic is easily 20 years old.

[JRSC00LUDE]

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Why do the older realtors do this lol Mines the same, hes not a sleazeball but his pic is easily 20 years old.

[Buster]

One of my chief complaints about real estate is how illiquid it is. The fact that real estate agents and their commissions exist really proves this point.

[Neil4Speed]

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What incentive does any regular realtor have to bother showing something listed with a discount brokerage? Or does the other agent get to collect their normal commission and it's just the no name agent getting shit pay?

Really depends on the realtor. Time is money at the end of the day. Say on a $400k condo, difference between a 2% and regular brokerage is 4k for the buying realtor. For some, it might be worth it if the client is happy and gets them out of taking them around/asking stupid questions/making offers etc. for another many months.

[ExtraSlow]

There's a few who will avoid lower commission deals "on principle" but I think most are smart enough to understand that closing a quick deal is a net positive at any percentage.

[ercchry]

Fun fact about 2% RE style companies… you can choose what percentage to offer a buying agent, just like any realtor does… question is, how cheap is the lister?

You could also hypothetically get a “discount” from a realtor if you get them to offer the buying agent less on your listing

[prodigydud]

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Same, I told the realtor what we were after and they set us up on a search that would notify us of any house that met our criteria and after we saw the listing we'd call him and say we wanted to see it.

Just a thought, but are realtors able to setup your search and then also filter the ones that offer highest commissions?

[jwslam]

Are there commissions greater than 7/3?

[ThePenIsMightier]

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Are there commissions greater than 7/3?

Sellers can agree to offer more to incentivize the buyer's agents to show the house.

[bjstare]

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Are there commissions greater than 7/3?

Yes. Realtors can charge whatever people are willing to pay.