All Forum Posts by: Kevin S.
Kevin S. has started 24 posts and replied 394 times.
Hi BP investors/members,
Anyone has experience buying Padsplit homes that are already being hosted and income generating? Or know someone who does? What are your thoughts? Thanks in advance.
Post: Home sellers would no longer be forced to pay up to 6 percent commission to agents
- Posts 398
- Votes 240
Quote from @V.G Jason:
Quote from @Jennifer Cook-DeRosa:
Quote from @Kevin S.:
Is the work for selling a $2,500,000 home 5x times more than a $500,000 home?
You're not paid for the work; you're paid for expertise—and before I pay a listing broker to sell my 2,500,000 house, you can bet I'm not hiring the first-timer or the one who only sells in the 500,000 price range.
For what it's worth, I don't belong to the MLS/NAR so I'm not bound by their cool-kids-club price commission structure. I know it's not a popular perspective, but you can just say no.
Everyone's gotta start somewhere. I sold a $2M+ miami condo using an agent that's highest sold was right over $800k. I didn't hire him for his expertise compared to other far more experienced agents, I hired him cause I saw he was going to work. And work he did-- 2 open houses in b2b weekend days. Listed on Thursday, under contract on Monday.
The other agents from the same brokerage that were initially supposed to get the listing thought an open house would only be necessary if there's not much traffic the first 2 weeks. Experience and reputation is what gets you the referral, actually working keeps that going though.
Like everything else, there is always a gray area where you can get great result from a supposedly 'regular' agent and conversely, get a 'regular' result from a great expert. I am sure your agent was more appreciative than an expert who feels (overly confident) you couldn't have gotten a better person than him, the expert.
Post: Home sellers would no longer be forced to pay up to 6 percent commission to agents
- Posts 398
- Votes 240
Quote from @Jennifer Cook-DeRosa:
Quote from @Kevin S.:
Is the work for selling a $2,500,000 home 5x times more than a $500,000 home?
You're not paid for the work; you're paid for expertise—and before I pay a listing broker to sell my 2,500,000 house, you can bet I'm not hiring the first-timer or the one who only sells in the 500,000 price range.
For what it's worth, I don't belong to the MLS/NAR so I'm not bound by their cool-kids-club price commission structure. I know it's not a popular perspective, but you can just say no.
I cannot disagree with your reasoning, expertise. Having said that if you read an earlier post when the thread started, someone mentioned about doctor's pay into this topic and I simply asked the question you answered. My point was : for a hand surgeon doing a carpel tunnel surgery or a gastro-enterologist doing a colonoscopy procedure, for them to get paid x times (say 5x) they have to perform 5x surgeries. There is no way around. It's not like sometime you can get paid 5x and sometimes not. There may be a fee range but certainly not 3x or 5x with 1x surgery. Besides, would you argue that they lack "expertise"??
Post: 3 Raleigh NC Suburbs Where Owning is Cheaper Than Rent
- Posts 398
- Votes 240
Quote from @Benjamin Carver:
Quote from @Kevin S.:
I imagine most BP members are investors rather than home buyer? If you highlight areas/houses that benefit owning over renting what would the post serve? Just wondering.
Mainly house hackers! My favorite strategy. Or somebody doing a live-in flip on a home versus renting. Home ownership is a great gateway into real estate investing! Move in, beat rent for a year, and then move out and keep it as a rental. Many options.
Gotcha!
Post: 3 Raleigh NC Suburbs Where Owning is Cheaper Than Rent
- Posts 398
- Votes 240
I imagine most BP members are investors rather than home buyer? If you highlight areas/houses that benefit owning over renting what would the post serve? Just wondering.
Post: Home sellers would no longer be forced to pay up to 6 percent commission to agents
- Posts 398
- Votes 240
Quote from @Jay Hinrichs:
Quote from @Account Closed:
Quote from @Jay Hinrichs:
Quote from @Carlos Ptriawan:
Quote from @Account Closed:
Quote from @David Avery:
If a seller is not going to pay 6%.
No agent will show the property.
Bottom line!
Wow, what an ignorant and asinine statement.
yeah and wait until SELLER AGENT PUT THIS into description:
AN UNREPRESENTED BUYER FROM ZILLOW.COM OR HOMES.COM MAY RECEIVE CERTAIN PERCENTAGE OF CLOSING COST FROM SELLER
So rather than paying 3% to buyer agent, seller could chip in 0.5-1.0% to buyer closing cost if they don't have agent. Buyer could just attend the open house on the weekend.
open houses are going to be very popular .. VERY.. instead of the bane of listing agents life.. deals will actually get made now at opens.
You guys would be the LAST agents I would ever use to sell my house. I feel sorry for your clients
too funny Ben. David Avery is not an agent and neither is Carlos.. And myself personally only keep my CA brokers license so I can do Hard money loans.. I have not sold real estate at the street level in Oh 15 years or so.. But I do build about 15 to 18 million dollars worth of new construction that I personally own and I hire my wife to list and sell them . Plus I fund another 100 to 120 SFRs a year for flippers and each of those transactions have brokers on them and wholesalers.. but me NA not looking for your listing Ben plus I dont think you really understand what we are talking about and how real estate brokerages actually work and function but thats OK.. most Civilians simply dont and thats why this is going to be chaotic for the industry as it all flush's out.
Most civilians? LOL. How about change that to 'most humans' and pretend you are GOD.
Post: Home sellers would no longer be forced to pay up to 6 percent commission to agents
- Posts 398
- Votes 240
Quote from @Carlos Ptriawan:
Quote from @Account Closed:
Quote from @David Avery:
If a seller is not going to pay 6%.
No agent will show the property.
Bottom line!
Wow, what an ignorant and asinine statement.
yeah and wait until SELLER AGENT PUT THIS into description:
AN UNREPRESENTED BUYER FROM ZILLOW.COM OR HOMES.COM MAY RECEIVE CERTAIN PERCENTAGE OF CLOSING COST FROM SELLER
So rather than paying 3% to buyer agent, seller could chip in 0.5-1.0% to buyer closing cost if they don't have agent. Buyer could just attend the open house on the weekend.
You just threw a door WIDE open! Rather created a door that wasn't there perhaps?
It could be challenging to find tenant, at least a good tenant. Maybe you could find out if that house is also for sale @ a discount and now you have 2 properties that you can improve and drive the equity up.
Post: 3 Raleigh NC Suburbs Where Owning is Cheaper Than Rent
- Posts 398
- Votes 240
I am assuming you are comparing mortgage payment to rent? Does that number include tax, insurance? What down payment did you use for your example? Buying would require that down payment and renting would not.
Post: Home sellers would no longer be forced to pay up to 6 percent commission to agents
- Posts 398
- Votes 240
Quote from @Bruce Woodruff:
Quote from @Nathan Gesner:
Most people don't understand what this agreement actually means.
In almost all transactions, commissions are paid by the seller.
I always considered that the buyer pays both agents in reality. After all the buyer is bringing in the money, giving it to the seller (Escrow) and both agents are paid out of Escrow.
It's true that the seller gets less money when agents are involved, but they're not bringing money to the table, they're just taking less money off the table. Right?
Great point Bruce. It's never seen in that light. Like Tony said, the cost is probably built into the price. I have a business and have been solicited by broker to sell it. The first question they ask me is "what do you want to get for your business?" If I tell them I want X dollars, he tells me that he would list it at x dollars plus his commission plus some more to allow for negotiations! This is from personal experience.