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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Mine got us way more for our house than we were expecting. The value in someone good is not in the physical activity they do per hour but for positioning your house well, negotiating on your behalf, getting the right people in to help, and minimizing your risk. It’s a big transaction, and for us is worth the commission vs going with some Redfin agent who wants to slap your home on the MLS and sell it at any price. [/quote]

Odds are good you'd have gotten the same price with a terrible agent. They don't really negotiate but review the offers and best and final offers with escalation clauses. I'm sure she did a decent job staging if it didn't cost you money but staging is meaningless to me. A good RE transaction lawyer can minimize risk for you by reviewing the contracts.

The simple reality is that RE agents are in a precarious position because much of their old value is now replaced by the internet and the comps data is available to everyone at their fingerprints and all it takes is a few decisive changes to wipe out the profession. There's no reason why a mortgage company can't offer RE transaction services and prepare the offer for you and review the contract for you before you sign to it, all for a few hundred dollars.

There can be a place for a RE agent with a first time buyer to walk them through the process and to help them understand comps, and ditto for some sellers who can't understand why their old kitchens and worn bathrooms mean the house is worth 200k less than the one next door that sold with a fully remodeled kitchen and bathrooms, but for experienced buyers/sellers, RE agents are useless and very much a cartel that needs destroying. [/quote]

Different strokes. I don’t have the time nor interest in researching and getting good at what my agent knows because she does these transactions over and over. Our house sale and purchase were both large dollar value transactions and it’s worth it to me to have someone handle it who knows what they’re doing. I feel the same about a decorator and hiring out home repairs. It would take me too long to get good at it and my time is better spent on my own job and doing what I enjoy.[/quote]

You clearly can afford to waste a lot of money on realtors (decorator? got it although I also have similar feelings, I've seen many professionally decorated houses that were shockingly dull and/or badly decorated). I have no experience with the 2M+ market but at 1M it's a very straightforward process and any reasonably intelligent person who's in a position to afford a 1M house can figure this out on their own and save 50-60,000 in commission fees. That's a lot of money. Are you aware that in most counties, including Europe and places like London, agent fees are nowhere close to 5-6% and yet people managed to sell houses!

Use a realtor if you want. We shouldn't have a cartel that forces everyone else to waste silly money on realtors because people like you are too lazy. [/quote]

I agree with you that we shouldn’t be forced to pay a certain cost. The free market is a great thing. I have more money than time right now and am happy to pay a premium for someone great. You’re not, that’s cool. But that doesn’t mean realtors don’t add value. I bet what we’ll see is that you’ll get what you pay for. There will be higher cost high-touch agents for me and someone to just push the transaction through for you and everything in between. [/quote]

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