Tired buyer's agent

[Anonymous]

Agents getting humbled now. Next real estate bust will humble sellers. Then the system will get settled.

[Anonymous]

Anonymous wrote:
Agents getting humbled now. Next real estate bust will humble sellers. Then the system will get settled.

An agent still doesn’t add value in a bust market. It’s just a waste of money and when you are selling for less why would you want to give money to an agent? If buyers have lots of choices they certainly aren’t going to want to pay extra for a buyers agent that does nothing.

[Anonymous]

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Anonymous wrote:I was not in a contract to buy a property with my RE agent but the demand for money just keeps on going up. We decided to put an offer on a property that we really like. We verbally spoke before about the fees and commissions and she agreed that there won't be any additional charges. When I saw her contract, there were about $2700 worth of additional fees on top of she getting her commission of 2%(for $1.3M property). She disclosed that additional charges are for documentation, administrative and travel fees to the closing office, etc. I asked her to take it off and she refused so I decided to not use her and found someone who gives some credit back from his commission. I don't understand why these agents need to start charging additional fees when commission is already healthy?

Good for you! I'm doing the same. Turned down two agents who refused to budge on 2% fee. Interviewed 3 others, one offered 1%, one offered hourly rate, and still waiting to hear from the last one. Not sure if this was a coincidence but the two who insisted on 2% were older (60+), the kind of realtors who don't really need the money or worry about building a career, just coasting on established reputation/monopoly in a certain neighborhood. Most younger, mid-profession realtors will negotiate if they dont want to be competed out.

CHANGE IS COMING. THANK GOD!!!

Smart agents will charge the hourly fee without having it contingent on closing. So, if they're charging $200 an hour and they spend 10 hours with them, you will owe them $2,000 whether or not you ever put an offer on a property. That's where I see this settling: Hourly billing like a lawyer, likely with a retainer collected up front.

This will also reduce the casual shopping.

Keep in mind a lot of them will collect that hourly fee from companies relocating employees, etc.

Why would I pay a realtor by the hour to show me a house? I can call the seller's agent to open the door for me. I'll then pay a lawyer to draft the offer and review the contract.

Honestly opening doors sounds like something the nearest Uber driver could eventually handle for $10/house and yes people could pay an agent or attorney to write an offer contract

While we are at it, why not have the uber driver bring an unhoused person/s to live in the house while its for sale? Seller gets to house someone in need and the unhoused does the showings. Win-win for everyone!

If you want that at your house sure 😁. Don’t see the incentive for a multinational corporation who has taken on a for profit liability to show houses, house someone for free. They don’t have unhoused sleeping in their cars. Of course they will have a vetting process duh.

Anyway I like the assets behind Uber far better than some rando showing agent in the event someone does let that happen.

[Anonymous]

high commission is one of the reasons that prices are high. Started going after these agents and get what your commission back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is reasonable on a buyers side? Folks have been saying use a RE attorney, but if not that route, a flat fee more so than a percentage correct?

Just ask the seller's agent to show you the house. The seller is already paying them to sell the house. I've done this many times and never had a realtor refuse to show me the house.

just sold my house and had 15 offers. My agent was too busy collecting bids to let someone in. Not a chance she was doing that lololol!

[Anonymous]

Agents are not worth the $ss they command. Not even 25% of what they get.

[Anonymous]

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

You do understand that nurses go to school for a degree and they are understaffed and work their butt off. I am sure you can't say the same for agents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

You do understand that nurses go to school for a degree and they are understaffed and work their butt off. I am sure you can't say the same for agents.

Oh thats pretty interesting, I used to be a nurse (was one for 12 years) and left the field to become a RE agent (absolutely love it) due to working conditions. Nobody cares about anything or anyone anymore... I must say I worked my ass off with both.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

You do understand that nurses go to school for a degree and they are understaffed and work their butt off. I am sure you can't say the same for agents.

Oh thats pretty interesting, I used to be a nurse (was one for 12 years) and left the field to become a RE agent (absolutely love it) due to working conditions. Nobody cares about anything or anyone anymore... I must say I worked my ass off with both.

Um, what?

When was the last time entire neighborhoods coordinated times in the evening to bang pots and pans on front porches to thank real estate agents? Never. We did that for nurses.

"Nobody cares about anything or anyone anymore"?

For nurses, people join together to show appreciation. For the real estate industry, people join together for class action lawsuits.

[Anonymous]

Nurses are salaried. RE agents make money by mooching off buyers and sellers. This is a really dumb comparison, and we should move on from it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

You do understand that nurses go to school for a degree and they are understaffed and work their butt off. I am sure you can't say the same for agents.

Oh thats pretty interesting, I used to be a nurse (was one for 12 years) and left the field to become a RE agent (absolutely love it) due to working conditions. Nobody cares about anything or anyone anymore... I must say I worked my ass off with both.

Um, what?

When was the last time entire neighborhoods coordinated times in the evening to bang pots and pans on front porches to thank real estate agents? Never. We did that for nurses.

"Nobody cares about anything or anyone anymore"?

For nurses, people join together to show appreciation. For the real estate industry, people join together for class action lawsuits.

It's sad how two female-dominated professions (realtors and teachers) have set out to malign another female-dominated profession (nurses) over the last few years. It looks like jealousy over nurses being the heroes of the pandemic.

[Anonymous]

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Anonymous wrote:Agent here. Last weekend was the first weekend the commission change became real for agents. I am offering 1% to buyer agents on listings and any additional can be paid by the buyer or negotiated with the seller.

In three multiple offer situations, the three agents who wanted only the 1% commission got the deal. The offers were similar and the sellers took the offers that netted the must to them. Agents were angry but I told them that our industry had done it to them. If they want to succeed, they have to prove their worth to buyers and get paid by buyers.

As a Realtor, you are not offering anything to a buyer’s agent under the new terms, the seller is. Please use the right verbiage to avoid confusion with the public

As a Realtor, I never offered anything to a buyer's agent. The company I am affiliated with offered a co-operating commission to the buyer agent's company. Under the "new terms" the listing agent can now ask the seller to pay a higher commission to the listing agent and that agent can credit some of the commission to the buyer as a subsidy.

Why launder the credit through realtor commissions? The seller can simply offer a concession. A simple concession. From seller to buyer.

Why, as a fiduciary, would you advise as seller who wishes to offer money to a buyer, to do so by paying a higher commission to the listing agent, who would credit the buyer? And through what mechanism?

+1 As a seller in the near future, I'm not offering money to a buyer's agent. A buyer could offer a lower price and still net me more money at settlement than another buyer with a higher price but with a term for me to pay their useless agent.

For example: Buyer A offers $990K, no buyers agent. Buyer B offers $1M and wants me to pay their agent 1.5% ($15K), so really the offer is $985 with the privilege of me still paying taxes on that extra $15K. I'm going with Buyer A.

Even if Buyer B wants 1% ($10K), I'd still be financially better off selecting Buyer A because I wouldn't have to pay taxes or commissions on that $10K. And if they're exactly the same net to me, then I'm picking the unrepresented buyer on principle.

Precisely!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agents are not worth the $ss they command. Not even 25% of what they get.

Let me add nurses to that. I was just in the the emergency room for 13 hours after being hit by a bicycle. The best help was from the cleaner who repeatedly helped me to the bathroom. One of the people taking me for X-rays who stoped at a vending machine to get me a bottle of water, because I was on the 10th hour of no water despite being told I could drink water no one bright any when I asked. The three nurses came into the bay to only glance at me and walk out. No answers to any questions. The security guard even walked with me to my Uber because the doctor who discharged me said a nurse would send a wheelchair bit I had to leave the bay before it arrived.

You do understand that nurses go to school for a degree and they are understaffed and work their butt off. I am sure you can't say the same for agents.

I can and I just did.

[Anonymous]

Most agents probably have degrees.

Can't really compare real estate agents with nurses and teachers. Nurses and teachers are employees and real estate agents are more like small business owners.