Real Estate Agents
- Thread starter CyState85
- Start date
What you're describing is exactly what the guy who sponsored this website and had a podcast for many years has changed to.
https://charterhouseiowa.com/
Have bought and sold houses using an agent and also selling ourselves with an attorney.
The agent process has always been painful. In my experience, honest and hard working are two descriptions that I would not use with our agents.
We are looking at selling an acreage and I'm 'interviewing' agents (most likely will sell it ourselves). No house to show on the property, but they are all in the 5-6% commission range. Thought it would be lower by now.
The agent process has always been painful. In my experience, honest and hard working are two descriptions that I would not use with our agents.
We are looking at selling an acreage and I'm 'interviewing' agents (most likely will sell it ourselves). No house to show on the property, but they are all in the 5-6% commission range. Thought it would be lower by now.
There are times that call for DIY and there are times where you need a professional. The problem is that the Realtors have a very strong lobbying arm and have managed to keep commissions high. Much of the world has seen commissions come down with the internet to around 3% total.
I'm looking to sell my house pretty soon but I have excellent knowledge of the local market and want to experience the process from a sales point of view. One thing the buyers of my house are not getting is a bunch of crap they want fixed. That will be upfront in my documents. I'll tell what it is and isn't and they can take it or leave it. The house isn't for everyone.
Not quite: several agents have switched to this flat fee seller model, but they still advise giving the buyer's agent 3% (and hope they'll get 3% as well when the seller is looking to buy their next house - that's where the bulk of their bread is buttered)
I think eventually it will be more common for there not to be a buyer's incentive, or at least it'll be flat fee as well. If it completely vanishes, if you want an agent representing you from a purchasing perspective they'll likely start charging up front (flat fee or per viewing).
Apps have existed for a while now that allow for sellers to schedule/approve viewings (I'm guessing a good chunk of agents use them at this point): my guess is eventually the kids nowadays would be more comfortable doing everything through a similar app for a flat fee opposed to hiring someone (dealing with people in person is the worst)
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Everything is relative. Even in a HOT market an excellent well experienced realtor can earn their worth, knowing how to play other agents and buyers. We hired one of the top agents in the state. We listed in a hot market, fixed it up with all new floors and appliances, our realtor worked the phones to other agents, her buyers, did open house on Saturday and Sunday, timed our listing to post at peak online viewing times and we had over 60 buyers through our house over the weekend. It was madness. She said no offers would be considered until Monday at 5pm in the listing description, she worked the phones on offers, we had multiple offers, and 2 with bump clauses that would meet any other offer, one that won out that had no contingencies. She probably got us another 15-20k more than I thought possible.
A lot of that is for protection of the sellers. I mean you don't want random strangers from an app (like tinder) just walking through your house. If there is no buyer's realtor or seller present then you could have problems.
Just bought a house in colorado springs using an agent. They can provide so much more info than MLS stuff. Neighborhoods, school districts, land slide potential, expansive soils testing, who's going to build in the vacant lot that you think is your view... Where the best investment area is, where the city is growing, professional contacts with engineers, agents, builders, etc...
How to write an offer with contingencies, how to analyze competing offers, how to price your home so it doesn't sell in 12 hours, etc...
I'm obviously not a DIY-er...
Definitely a huge concern, but I'm sure someone will have the process figured out (buyers validated/pre-approved, etc)
5-10 years ago getting into a random stranger's car and having them drive you across town would have been nuts as well, but here we are
We sold a rather unique condo a few years back and one great service was getting honest feedback from other realtors showing the place.
But they are they and driving their car. It's not like they are delivering the car and letting them drive it around.
I was commenting more on how people's mindsets change rather than making a perfect analogy.
But since you brought it up: https://turo.com/en-us
I'm not a realtor and don't have an especially high opinion of them. But I find it funny that the OP is both saying they aren't worth the money, and then asks for advice to sell his house.
If it's so easy, why are you here asking for advice???
I never said it would be easy nor do I think real estate agents are irrelevant, but I am curious if others have done the process themselves. Paying a large sum of money ($10,000+) seems steep for a commission. It’s kind of like the yard care for dummies thread—-you could pay a lot of money to have somebody else take care of your yard but why not do the same thing yourself?
It reminds me of that episode of The Office when Dwight refuses to tip the food delivery guy and says “why would I tip for something I’m fully capable of doing myself? I do, however, tip my urologist as I’m unable to pulverize my own kidney stones.”
You can also have the best of both worlds, my dad is a realtor for a place in Cedar Rapids, Why USA they will list your home in the multiples for $990 but you show the house. Basically you get listed in the MLS listings that all realtors get, so Buyers agents see your house listed for sale.
It is a middle ground for people interested.
It is a middle ground for people interested.
No doubt they offer some value. Especially if you can't be around to sell it yourself.
I think many are just beginning to really question whether its worth 6% of a home's value, or roughly $12k\sale based on a roughly 200k median home value in des moines metro (and obviously more when you get into many nicer homes). Especially in a market where homes can fly off the market in a matter of days, that's a lot of money for relatively little amount of work, especially when there are more tools than ever for people to do it themselves.
It really cant hurt to try it yourself first if it means saving $8-12K.
