03-08-2007, 08:54 AM
My problem with realtors is commission. For 3% of the purchase price they shoehorn individuals into larger price and for them a larger commission. There is very little oversight. A realtor can claim multiple bids on a property just to pressure a higher bids. In AU where bids now have to be logged with a 3rd party, false bids and multiple bids on properties have fallen and so have prices.
I think after the RE bust realtors will go the way of travel agents. Remember when TAs had control over buying airline tickets and took commission for what we now do on the internet.
I dont pay my lawyer or accountant on commission. When I have bought a home in the past I have always used a RE lawyer and I beat the selling realtor down on the commission.
Commissions are a joke, sure I have paided them but grudgingly. Its like paying a financial advisor to trade your stocks, the more trades the FA makes the more commission. I have interviewed FAs before, they run scared when I tell them you can have a commission on the profits you make me after fees are deducted and since I am trusting your advice I would like to see you W2s, financial and bank statements and references for the past 7 years.
If realtors are such great individuals why is NAR investing 40M in promoting realtors in the media? Teachers, cops and firemen dont advertise to promote their standing in the eyes on men, yet they still are admired.
I think after the RE bust realtors will go the way of travel agents. Remember when TAs had control over buying airline tickets and took commission for what we now do on the internet.
I dont pay my lawyer or accountant on commission. When I have bought a home in the past I have always used a RE lawyer and I beat the selling realtor down on the commission.
Commissions are a joke, sure I have paided them but grudgingly. Its like paying a financial advisor to trade your stocks, the more trades the FA makes the more commission. I have interviewed FAs before, they run scared when I tell them you can have a commission on the profits you make me after fees are deducted and since I am trusting your advice I would like to see you W2s, financial and bank statements and references for the past 7 years.
If realtors are such great individuals why is NAR investing 40M in promoting realtors in the media? Teachers, cops and firemen dont advertise to promote their standing in the eyes on men, yet they still are admired.