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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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?[/quote]

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!!! [/quote]

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. [/quote]

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. [/quote]

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 [/quote]
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![/quote]

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.[/quote]

redfin is already doing that. If you request a showing then they might send a random registered agent to open the doors for you for $150/visit. Why can't we expand on that. [/quote]

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