Is it just not worth using a realtor anymore or was mine just terrible?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What's the going rate for a listing agent these days? Last time I bought it was 7% and I know it's dropped since then.

Also, a while ago I read about a court case against agents allegedly colluding to charge the same high rate rate (a cabal as pp put it). Did that ever develop into anything significant?

Standard is 6%, newer agents looking for business will do 5%, it’s also 5-4.5% if you have an expensive property.

Standard is 5 percent, not 6.

[Anonymous]

We are sold twice with a realtor in the past decade.

We are listing this summer and will not sure a realtor.

[Anonymous]

I can’t wait for real estate agents to finally work for their (flat or hourly) money. The days of percentage off a sale price are coming to an end

[Anonymous]

I did fsbo and didn’t pay a dime for fees. Made the buyer pay their own service provider for the services they got.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It sounds like the 54K was to split between the listing and buying agent. I generally think real estate agents are pretty useless, but my agent when I last sold my house did a good bit of work that I wouldn't want to have done (or had the time to do), and he really only made 2.5% on the sale because the buyer's agent made the other 2.5%. That's really not that much money when you consider staging, marketing, making and returning calls to drum up interest, coordinating the people who do the work to fix it before the sale, etc. Not to mention the overhead of the job. I think some agents make a ton of money, but not many, with the vast majority barely making any.

OP here. Yes it was split: 27K to each agent. They virtually staged it, no furniture was brought in. Nothing was coordinated on their end. They just gave us a local recommendation for carpet cleaning who we had to let in and coordinate with. No marketing materials were published. They just put it on the MLS at the lowest price we would take. They called nobody except the offer we accepted. We had 14 showings in 3 days and accepted an offer on day 4 with closing in 20 days. We saw them 3 times total and they live 15 minutes away. I really can't see the value(practically the value of a new car) -at least for the realtor I used.

I think you would have taken at least a $50k haircut selling FSBO.

Or she could’ve paid a stager to come in for $3k, a professional photographer for $1k, $2k to an attorney and ended up in the same spot.

[Anonymous]

Do the public a favor and write an honest review about the realtor. It's really the only way people will know not to use him. What brokerage?

[Anonymous]

My experience of realtors has not been positive lately.

[Anonymous]

My buyers agent guided me wrong at literally every turn

[Anonymous]

The model really should be hourly fees plus a real estate lawyer to review the contract and to be on call if needed. Each party spends no more than a few thousand total.

[Anonymous]

Our agent definitely did more work to help us buy a new house than to sell our old house because in last summer's market, houses were basically selling themselves, but to help us maximize the price for value, she:
- Gave us names for her preferred vendors (although we did call other people, but most of her vendors were a good price) and someone on her team coordinated the timing and access
- Paid for staging (two out of three floors), landscaping, and cleaning
- Called the listing agent of a house that went under contract in our neighborhood to find out what price they sold it for, and then recommended that we increase our listing price based on that (we did, by $25K and our house sold for $25K over that).
- Negotiated with the people who put down offers to get rid of all contingencies and get the fastest closing possible (two weeks)
- Coordinated the closing so that we could do everything virtually

[Anonymous]

Anonymous wrote:Our agent definitely did more work to help us buy a new house than to sell our old house because in last summer's market, houses were basically selling themselves, but to help us maximize the price for value, she:
- Gave us names for her preferred vendors (although we did call other people, but most of her vendors were a good price) and someone on her team coordinated the timing and access
- Paid for staging (two out of three floors), landscaping, and cleaning
- Called the listing agent of a house that went under contract in our neighborhood to find out what price they sold it for, and then recommended that we increase our listing price based on that (we did, by $25K and our house sold for $25K over that).
- Negotiated with the people who put down offers to get rid of all contingencies and get the fastest closing possible (two weeks)
- Coordinated the closing so that we could do everything virtually

That agent seemed to be worth their commission and got you top dollar for your home. Many agents are lazy and don’t follow up for their clients.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What's the going rate for a listing agent these days? Last time I bought it was 7% and I know it's dropped since then.

Also, a while ago I read about a court case against agents allegedly colluding to charge the same high rate rate (a cabal as pp put it). Did that ever develop into anything significant?

Standard is 6%, newer agents looking for business will do 5%, it’s also 5-4.5% if you have an expensive property.

6% isn't standard anymore. Even 5 years ago when we bought it was 5%, and we just interviewed agents to sell my parents' home, 3 offered 5%, and 1 (a newer agent) offered 4%. And there are agents you can pay by the hour, which is particularly smart for high value homes (my friends used one to buy and got a commission rebate on the 5% paid to both agents of 45K.)

[Anonymous]

Anonymous wrote:It sounds like you just had a crappy agent.

At the end of the day I wouldn’t buy a house FSBO. I think they’re disproportionately cheap and difficult to work with.

DP. “Cheap” and “not wanting to blow $54k for minimal service even from a good agent” are not the same thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's the going rate for a listing agent these days? Last time I bought it was 7% and I know it's dropped since then.

Also, a while ago I read about a court case against agents allegedly colluding to charge the same high rate rate (a cabal as pp put it). Did that ever develop into anything significant?

Standard is 6%, newer agents looking for business will do 5%, it’s also 5-4.5% if you have an expensive property.

6% isn't standard anymore. Even 5 years ago when we bought it was 5%, and we just interviewed agents to sell my parents' home, 3 offered 5%, and 1 (a newer agent) offered 4%. And there are agents you can pay by the hour, which is particularly smart for high value homes (my friends used one to buy and got a commission rebate on the 5% paid to both agents of 45K.)

Can you tell us what brokerages are offering hourly realtors? Is is in the DMV? I havent heard of that here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What's the going rate for a listing agent these days? Last time I bought it was 7% and I know it's dropped since then.

Also, a while ago I read about a court case against agents allegedly colluding to charge the same high rate rate (a cabal as pp put it). Did that ever develop into anything significant?

Standard is 6%, newer agents looking for business will do 5%, it’s also 5-4.5% if you have an expensive property.

6% isn't standard anymore. Even 5 years ago when we bought it was 5%, and we just interviewed agents to sell my parents' home, 3 offered 5%, and 1 (a newer agent) offered 4%. And there are agents you can pay by the hour, which is particularly smart for high value homes (my friends used one to buy and got a commission rebate on the 5% paid to both agents of 45K.)

Can you tell us what brokerages are offering hourly realtors? Is is in the DMV? I havent heard of that here.

Glass House Real Estate. Spicer Real Estate. There are probably others if you look around.