WSJ: Beware real estate cartel

[Anonymous]

The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

[Anonymous]

What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

[Anonymous]

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

You know that expressing a strongly held opinion forcefully doesn’t make it fact, right?

We get it, you don’t like what brokers and agents earn.

But your over-the-top hysteria about it is … weird.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

You know that expressing a strongly held opinion forcefully doesn’t make it fact, right?

We get it, you don’t like what brokers and agents earn.

But your over-the-top hysteria about it is … weird.

NP. I agree with the first PP that realtors charge outrageous prices for the work they do and shouldn’t have that much sway in real estate deals.
We did all the work of looking for houses, but then felt pressured into using a realtor as first-time homeowners to conclude the deal.
However all she did was a few hours of paperwork, and if something had gone wrong, I’m not sure she’d have helped us, because she clearly wasn’t all that interested.

Yet anytime people want to sell or buy without a realtor they face discrimination and probably lose out on offers and aren’t taken seriously.

Something has to change.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

You know that expressing a strongly held opinion forcefully doesn’t make it fact, right?

We get it, you don’t like what brokers and agents earn.

But your over-the-top hysteria about it is … weird.

NP. I agree with the first PP that realtors charge outrageous prices for the work they do and shouldn’t have that much sway in real estate deals.
We did all the work of looking for houses, but then felt pressured into using a realtor as first-time homeowners to conclude the deal.
However all she did was a few hours of paperwork, and if something had gone wrong, I’m not sure she’d have helped us, because she clearly wasn’t all that interested.

Yet anytime people want to sell or buy without a realtor they face discrimination and probably lose out on offers and aren’t taken seriously.

Something has to change.

+1

I agree with the above comments. And, I didn't notice any over-the-top hysteria.

[Anonymous]

Anonymous wrote:The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case. Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

You know that expressing a strongly held opinion forcefully doesn’t make it fact, right?

We get it, you don’t like what brokers and agents earn.

But your over-the-top hysteria about it is … weird.

NP. I agree with the first PP that realtors charge outrageous prices for the work they do and shouldn’t have that much sway in real estate deals.
We did all the work of looking for houses, but then felt pressured into using a realtor as first-time homeowners to conclude the deal.
However all she did was a few hours of paperwork, and if something had gone wrong, I’m not sure she’d have helped us, because she clearly wasn’t all that interested.

Yet anytime people want to sell or buy without a realtor they face discrimination and probably lose out on offers and aren’t taken seriously.

Something has to change.

+1

I agree with the above comments. And, I didn't notice any over-the-top hysteria.

+2 realtors make more money selling one house than lawyers make selling an entire family owned business.

Happy to see scrutiny on this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case. Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.

Funny how you cherry picked and only highlighted this one transaction. Are you suggesting there are no transactions that take less than 20 hours beginning to end? I’ve purchased/sold several homes both with realtors and on my own with a flat fee attorney. Realtor fees should be by the hour. $750 an hour will motivate buyers to be more precise with their search.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case. Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.

Most realtors accompanying clients don’t add much data to the discussion. So those hours spent aren’t worth much, except in special circumstances. You’re not doing surgery, PP. Surely you can’t expect to be paid an exorbitant price per hour? Walking through with clients is usually less work than what blue collar workers do paid minimum wage. But then you get a huge chunk of money when the deal goes through.

Don’t complain.

[Anonymous]

RE agents gets paid crazy amount of commission for having no skin in the game. In addition, I have found them really dishonest and would do anything to get a deal done; no wonder there is no trust in the community.

Everywhere else in the developed word pays 1-2% commission so why we need to pay 5-6%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are you prattling on about? A “few hours of work?” What are you smoking that gives you such delusions?

You're an ignorant troll if you think otherwise. RE agents are paid WAAAAAY to much in commission comparable to the work they actually do. Pre-internet, maybe they earned it, but now.....not a chance.

This is the only trade where I see HS graduates getting paid this high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case. Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.

25 hours - less than a full week of work

[Anonymous]

Real estate agents are lazy idiots who don’t add much value to society. Good riddance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway. Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case. Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.

Funny how you cherry picked and only highlighted this one transaction. Are you suggesting there are no transactions that take less than 20 hours beginning to end? I’ve purchased/sold several homes both with realtors and on my own with a flat fee attorney. Realtor fees should be by the hour. $750 an hour will motivate buyers to be more precise with their search.

More like 75 cents an hour. We handed our agent the key to our house and she had it painted, floors refinished, deck and some other repairs done, had a new garage door installed, carpet cleaned in the basement, and had windows and house cleaned. She had the house staged and had photos, floorplans, and a tour done. She spent three hours sitting on her ass at an an open house and then made us respond to offers a few days later. She didn’t do anything after that except meet the appraiser, termite inspector, and our movers. She spent maybe a couple hours making sure the movers got everything out of the house and then took all our old paint to the County. She spent a lot of time with the settlement because we were in two places. For that she made over $9,000. She should have gotten $750 for the little she did. My neighbors were all impressed but she didn’t do any of the work