All Forum Posts by: Account Closed

This is what realtors and the industry want the homeowner to believe. As if they are this mystical entity that can foresee what you will see your home for.

The owner makes the final determination on what to price their house at, not the agent. The agent will give you comps for your area, and make a suggestion, but the final decision is yours.

Remember that.

IMHO, a real estate agent's commission should not exceed 3%. Period. 

If my house sells for $600,000, a 6% commission gives the agent $36,000. Never gonna happen. Even if FSBO folks make a mistake, I doubt very highly it will be anywhere near that amount of money.

With regards to a Buyer's Agent, very few buyers where I live use a Buyer's Agent. And if they did, I'll offer them 1% and be done with it. They get $6000 for walking a buyer through my house and doing some paperwork. My real estate attorney will handle all the legal documents, and my bank,  and work with the agent to finalize the deal. If I were a Buyer's agent, and someone gave me a deal like that, I would be making money hand over fist every month. 

3/15/24

Home sellers would no longer be forced to pay up to 6 percent commission to agents under a settlement that experts say will drive down prices.

American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the 6 percent sales commission.

The National Association of Realtors, a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating its rules on commissions. Legal counsel for N.A.R. approved the agreement early Friday morning, and The New York Times obtained a copy of the signed document.

The deal, which lawyers anticipate will be filed within weeks and still needs a federal court’s approval, would end a multitude of legal claims from home sellers who argued that the rules forced them to pay excessive fees. Representatives for N.A.R. were not immediately available for comment.
https://www.nytimes.com/2024/03/15/realestate/national-association-realtors-commission-settlement.html?unlocked_article_code=1.c00.ma4T.9e_c8UHRTNQ1&smid=url-share

American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the 6 percent sales commission.

The National Association of Realtors, a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating its rules on commissions. Legal counsel for N.A.R. approved the agreement early Friday morning, and The New York Times obtained a copy of the signed document.

The deal, which lawyers anticipate will be filed within weeks and still needs a federal court’s approval, would end a multitude of legal claims from home sellers who argued that the rules forced them to pay excessive fees. Representatives for N.A.R. were not immediately available for comment.

https://www.nytimes.com/2024/03/15/realestate/national-assoc...

American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the 6 percent sales commission.

The National Association of Realtors, a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating its rules on commissions. Legal counsel for N.A.R. approved the agreement early Friday morning, and The New York Times obtained a copy of the signed document.

The deal, which lawyers anticipate will be filed within weeks and still needs a federal court’s approval, would end a multitude of legal claims from home sellers who argued that the rules forced them to pay excessive fees. Representatives for N.A.R. were not immediately available for comment.

https://www.nytimes.com/2024/03/15/realestate/national-assoc...

What would you suggest ne a fair Buyer's Agent number?

I do have a real estate attorney

I had a full-time job and wanted to learn about real estate before buying my own home. I figured the best way to do so was to become an agent. I hooked up with a broker, took the course, and got licensed. I made some money, but it was not for me. My weekends are too valuable and I rather spend time with my family instead of showing houses. Also, cold calling is not my thing. I hate it when folks call me, so I have no desire to call anyone.

As for FSBO, I already have a real estate attorney and I have found a flat-fee company that will help me.

They do the paperwork. It includes professional photos, a yard sign, a comparative property analysis (CMA) and a personal home overview to go over what should be done/fixed/updated to maximize our home sale.

1 Year Listing

A listing on MLSLI.com, HGAR.com, OneKey MLS, Realtor.com, Zillow, Trulia, and other partner and other real estate agent websites

36 photos uploaded to the MLS

Free changes (price, open house, description, photos)

All legal disclosures and paperwork provided

Free MLS flyers, open house flyer & sign in sheets

Receive all buyer leads

Local Broker help by Email

Weekly Listing Stats for your property

Showing time Scheduling (if wanted)

Electronic Lockbox

Phone call questions and help with anything you need during the selling process

They negotiate your offers for you professionally

They verify all buyers pre-approvals and/or proof of funds

They fill out and send all required paperwork to the attorneys to get contracts going

They handle all home inspections and potential issues

They deal with the appraiser and provide comparable sale information so your house appraises for the contract price

They confirm the commitment of buyers mortgage

They help deal with any legal issues from the town if there are any

They handle the walk through and any issues that might arise

They attend the closing (if there is no scheduling conflict)

I make the appointments and show your own house

Cost: 1/2% with a minimum of $2500

Hi

I had a full-time job and wanted to learn about real estate before buying my own home. I figured the best way to do so was to become an agent. I hooked up with a broker, took the course, and got licensed. I made some money, but it was not for me. My weekends are too valuable and I rather spend time with my family instead of showing houses. Also, cold calling is not my thing. I hate it when folks call me, so I have no desire to call anyone. 

As for FSBO, I have found a company that will help me.

They do the paperwork. It includes our professional photos, a yard sign, a comparative property analysis (CMA) and a personal home overview to go over what should be done/fixed/updated to maximize our home sale.

1 Year Listing

A listing on MLSLI.com, HGAR.com, OneKey MLS, Realtor.com, Zillow, Trulia, and other partner and other real estate agent websites

36 photos uploaded to the MLS

Free changes (price, open house, description, photos)

Choose my own commission rate (1% Minimum)

All legal disclosures and paperwork provided

Free MLS flyers, open house flyer & sign in sheets

Receive all buyer leads

Local Broker help by Email

Weekly Listing Stats for your property

Showing time Scheduling (if wanted)

Electronic Lockbox

Phone call questions and help with anything you need during the selling process

They negotiate your offers for you professionally 

They verify all buyers pre-approvals and/or proof of funds

They fill out and send all required paperwork to the attorneys to get contracts going

They handle all home inspections and potential issues

They deal with the appraiser and provide comparable sale information so your house appraises for the contract price

They confirm the commitment of buyers mortgage

They help deal with any legal issues from the town if there are any

They handle the walk through and any issues that might arise

They attend the closing (if there is no scheduling conflict)

I make the appointments and show your own house

Cost: 1/2% with a minimum of $2500

About 22 years ago I worked part-time as an agent

I took early retirement, I have nothing but time

I already an attorney

"There are some discount brokerages where you pay flat fee for a listing on the MLS. That's all they provide." - TOTALLY NOT TRUE

I worked part-time as agent for about 2 years

I took early retirement, I have nothing but time

Most buyers here do not use a Buyer's Agent, not worried about that whatsoever

I ran the comps. My house is worth between $575-600K. No way in the world am I giving a real estate agent $32-36K to sell my house