How many years until realtors are replaced by Redfin/Uber/Zillow/etc?

[Anonymous]

Anonymous wrote:Realtors add nothing and tend to screw everything up, either intentionally or due to negligence.

I think it's more the case that Realtors will keep deals from imploding when irrational and emotional buyers and sellers come apart at the seems over silly shit.

[Anonymous]

Anonymous wrote:In justifying the existence of realtors and their fees, people keep talking about how "they don't want to squeeze every penny out of a transaction" or "are happy to pay for good value of a realtor".

My crappy small 1400 sf rowhouse is worth $1.3m. When I sell next year (for a job relocation), it is general knowledge in our sought after neighborhood that so long as you price within $100k of the appropriate value, the house will be sold at the open house. The commission at 6% is $80,000.

Are you saying I am "trying to squeeze every last penny out" if I think $80,000 is a ridiculous fee to pay for an open house and maybe 10 hours of work in closing out the contract??? We're not talking about $3000 like in 1990. We're talking about eighty thousand dollars.

It's more ridiculous that your 1400 sq ft shit shack is worth $1.3 million. The $80,000 commission is just a byproduct. Since you're so confident it'll sell at the open house, just do it yourself. Quit your bitching or do something about it. But don't complain about Realtor greed when you're expecting 1.3 million for your POS.

[Anonymous]

I think agents don't go away. They become consultants at a price much less than the 6% commission. I'll pay several thousand dollars for a real estate professional to understand my needs and curate offerings from the various online real estate sites, and help me when I am ready to make a deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realtors add nothing and tend to screw everything up, either intentionally or due to negligence.

I think it's more the case that Realtors will keep deals from imploding when irrational and emotional buyers and sellers come apart at the seems over silly shit.

Just like agents also blow up deals or don't act in their client's best interest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Realtors add nothing and tend to screw everything up, either intentionally or due to negligence.

I think it's more the case that Realtors will keep deals from imploding when irrational and emotional buyers and sellers come apart at the seems over silly shit.

Just like agents also blow up deals or don't act in their client's best interest.

You cannot have it both ways. I thought you hated Realtors because all they care about is closing the deal and getting paid. How in that paradigm are agents blowing up deals? Give me a break.

Usually it's stubborn buyers or sellers that would kill a deal without agents to hold it together. That, btw, is the main value of an agent -- hence the term "agent" -- to take the emotion out of the transaction.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Realtors add nothing and tend to screw everything up, either intentionally or due to negligence.

I think it's more the case that Realtors will keep deals from imploding when irrational and emotional buyers and sellers come apart at the seems over silly shit.

Just like agents also blow up deals or don't act in their client's best interest.

You cannot have it both ways. I thought you hated Realtors because all they care about is closing the deal and getting paid. How in that paradigm are agents blowing up deals? Give me a break.

Usually it's stubborn buyers or sellers that would kill a deal without agents to hold it together. That, btw, is the main value of an agent -- hence the term "agent" -- to take the emotion out of the transaction.

I haven't been emotional about any of the deals we have closed. What is there to be emotional about? I did however not appreciate how agents dealt with some of our transactions or what they said. I've had them suggest extremely high offers and even lie about the response from the other agent.

I don't want it both ways. We didn't use an agent for our last real estate purchase and we won't going forward unless my employer is footing the bill.

[Anonymous]

Anonymous wrote:There seems to be a lot of anger out there towards realtors and many people seem to believe the 6 percent is ridiculous and undeserved. It's only a matter of time before a better "product" is offered. I doubt many would have predicted uber or dollar shave club. These companies are successful because a vast majority of the population was frustrated with taxi service and sick and tired of paying too much for razors. I personally would jump all over an opportunity to avoid paying 6 percent. My parents have sold multiple properties without a realtor but have always had the benefit of time.

Bottom line is the Internet has been a game changer. Real estate agents were a necessity in order for access to knowledge. Now anyone can research comps and find a home. One of my relatives is an older and very successful realtor and said it is only a matter of time. My relative also was making close to 500k a year selling real estate, which I find ridiculous.

I've found each home I've purchased on my own and simply don't believe the agent worked hard enough or brought something special to the table to earn tens of thousands of dollars from each sale. No way.

This. Realtors commissions simply defy common sense. The emperor has no clothes.

[Anonymous]

Anyone tried upnest.com? Seems like it could be a pretty cool market disruptor. An add for it showed up in my Pinterest acct.

[Anonymous]

UPNEST is great. Everyone should definitely use it.

[Anonymous]

Anonymous wrote:UPNEST is great. Everyone should definitely use it.

Can you tell us more if you used it? Who responded? Big firms? Boutique?