How much?
Real Estate agents
- Thread starter 4spdragtop
- Start date
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Steve welder
Well-Known Member
If your serious send a PM but you have to be serious....... This is a fully restored car
I would be, but it's a convertible. Wife can't handle the open air. I'm sure that it's a nice car
Steve welder
Well-Known Member
Dan the car is north of 40 large. Im sure you could find a really nice A-body for that much
I sure so
4spdragtop
Well-Known Member
Best learn to share in this world, no choice really. Pretty sure you can sell without an agent, but will pay more the lawyers extra work.
Are you buying or selling? You mention both.
Sure you can do it.
...but should you?
Your lender (unless you are paying cash) may require a real estate professional or attorney be involved.
For the commercial property I bought, I used a lawyer. Back in 2012 the flat fee was $600.
...and this is a car forum.
Kinda odd not to post about cars for a first post. Just sayin',
Sure you can do it.
...but should you?
Your lender (unless you are paying cash) may require a real estate professional or attorney be involved.
For the commercial property I bought, I used a lawyer. Back in 2012 the flat fee was $600.
...and this is a car forum.
Kinda odd not to post about cars for a first post. Just sayin',
Selling? Buying??
You will find "discount" r/e co. that advertise 1% fee instead of usual 3%, but you will find they lack in addional fees so you save nothing maybe. Your experience may vary, as it does by location and state. Many times the discount co. is cheaper for good reasons, advertising for one. They are always found in urban/burban residential r/e. The list to not be the "for sale by owner" is large. There lots more to it than finding a buyer, especially when you get out of the burbs. I bet you can pay a "r/e attorney" more than the r/e co. fees. Knowledge honest people in either case is crucial. All r/e co. are headed up by a broker, that is liable for everything to be done correctly by law.
In a r/e transaction, the seller must provide good title, which involves either title co. or lawyer. 99% o fthe time here it is the title abstract co. The title co. is headed up by a lawyer specializing in r/e. The seller can handle this detail of hiring either.
In Texas an approved survey is required. Either existing or new one. Lots of requirements, the title co./lawyer blesses off on this and everything related to demands of mortgage co.
Every state requires legal disclosures. The lawyer is supposed to know all, but ha not always!! Abstract co. do, that is their only business'
Buying a home. YOU should always pay a good inspector to bless off unless YOU are an expert! I have seen that bite a lot of "smart" people in the ***. Warrantees on foundation, AC, roof and whatever???
Flood plain??????
Property tax base??
Lots of other "details."
You will find "discount" r/e co. that advertise 1% fee instead of usual 3%, but you will find they lack in addional fees so you save nothing maybe. Your experience may vary, as it does by location and state. Many times the discount co. is cheaper for good reasons, advertising for one. They are always found in urban/burban residential r/e. The list to not be the "for sale by owner" is large. There lots more to it than finding a buyer, especially when you get out of the burbs. I bet you can pay a "r/e attorney" more than the r/e co. fees. Knowledge honest people in either case is crucial. All r/e co. are headed up by a broker, that is liable for everything to be done correctly by law.
In a r/e transaction, the seller must provide good title, which involves either title co. or lawyer. 99% o fthe time here it is the title abstract co. The title co. is headed up by a lawyer specializing in r/e. The seller can handle this detail of hiring either.
In Texas an approved survey is required. Either existing or new one. Lots of requirements, the title co./lawyer blesses off on this and everything related to demands of mortgage co.
Every state requires legal disclosures. The lawyer is supposed to know all, but ha not always!! Abstract co. do, that is their only business'
Buying a home. YOU should always pay a good inspector to bless off unless YOU are an expert! I have seen that bite a lot of "smart" people in the ***. Warrantees on foundation, AC, roof and whatever???
Flood plain??????
Property tax base??
Lots of other "details."
My wife was a Realtor for four years, I joined her as a Realtor for the last two.
Being in the military we bought 10 houses and sold 9. Still live in one.
I bought FSBO and with an agent and sold FSBO and with an agent. Really depends on the area. If you are selling and it's a sellers market (meaning buyer are beating down doors), then go for it.
Quick story. I was stationed in Idaho and was recently divorced and a single parent. I got orders to transfer so I put an ad in the newspaper (it was 1996) for sale by owner. Guy calls me so I tell him to go have a look and if he likes what he sees, call back and I'll come show him inside. He calls me back and says he wants to see inside. I go show him and he offers me $80K. (I put $85K in the paper) SOLD. God was helping me through that one!!!
As a Realtor we had a list of buyers. We also spent lots of time and money to advertise our listing. We felt like we earned our commission.
It also depends how quickly you need to sell. Also think about the hassle of showing your property at all hours. Then there's the negotiation and dealing with buyers. Some people are good at that, some are not.
Yes, you CAN sell by owner. Sometimes it's better to use an agent, sometimes you can succeed on your own.
Being in the military we bought 10 houses and sold 9. Still live in one.
I bought FSBO and with an agent and sold FSBO and with an agent. Really depends on the area. If you are selling and it's a sellers market (meaning buyer are beating down doors), then go for it.
Quick story. I was stationed in Idaho and was recently divorced and a single parent. I got orders to transfer so I put an ad in the newspaper (it was 1996) for sale by owner. Guy calls me so I tell him to go have a look and if he likes what he sees, call back and I'll come show him inside. He calls me back and says he wants to see inside. I go show him and he offers me $80K. (I put $85K in the paper) SOLD. God was helping me through that one!!!
As a Realtor we had a list of buyers. We also spent lots of time and money to advertise our listing. We felt like we earned our commission.
It also depends how quickly you need to sell. Also think about the hassle of showing your property at all hours. Then there's the negotiation and dealing with buyers. Some people are good at that, some are not.
Yes, you CAN sell by owner. Sometimes it's better to use an agent, sometimes you can succeed on your own.
If you sell on your own, you still have to hire a lawyer for the paperwork. We went to get paperwork for t.o.d. for our house and the office that handles home titles and wills would not accept the paperwork off the internet. Real estate requires a agent or a attorney, myself I personally prefer a agent.
There's plenty of "cash offer" spam mail and email and texts and signs stuck on the corner flying around.
I'm sure most are actually legit.
I'm also sure they are gonna severely low ball.
...and I'm sure it works.....otherwise they wouldn't keep doing it and there wouldn't be 100 new ones every day.
Why does every single sign or letter look like it's been hand written with a sharpie, but it's not?
I'm sure most are actually legit.
I'm also sure they are gonna severely low ball.
...and I'm sure it works.....otherwise they wouldn't keep doing it and there wouldn't be 100 new ones every day.
Why does every single sign or letter look like it's been hand written with a sharpie, but it's not?
I spoke with one of those groups. I think it was a front for a very large publicly traded company. I asked one of the reps and lets just say he was evasive in his response.
The sales pitch was this. We want to get you the same amount of money selling to us that you would if you went through the normal sales process. Sure sounds good. They show up. Take a look around ask a bunch of questions about appliances, A/C, water heater, etc. My response to all those question was, all the systems work as they should. If a buyer was uneasy, I'd be happy to drop 600-1K on a warranty policy for them. They were insinuating that all those systems would have to be replaced prior to selling.
House at the time would have fetched about 530-540, so figure 25-35 in cost on the high side to sell through a realtor, net about 500-510 was my guess. I was willing to take a little lower number and told the guy the magic number
The offer, 415 I laughed and said the sales pitch doesn't match the offer and that is bad business practices to alienate the seller like that. I got a couple follow up calls and told them to not call anymore.
I know someone else that actually sold a home they inherited to one of these groups, got the same systems tactcis and actually took the offer. When the house went up for sale, pictures showed the same AC and water heater at the house... yep replaced those systems. It's a game
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As to the obligation to sell to the first person that offers asking.
If person offers you asking price and is such a ******* douchebag, insults you unmercilessly and kicks your dog, you are morally obligated to accept that offer. Please... You tell them no thanks and move on, so much for that moral deal and the price, RIGHT?
Nobody is required to sell anything to anybody they find so distasteful as to not want to do business with them. You have ZERO obligation. Same as the "Reserve the right to refuse service" in some establishments.
If person offers you asking price and is such a ******* douchebag, insults you unmercilessly and kicks your dog, you are morally obligated to accept that offer. Please... You tell them no thanks and move on, so much for that moral deal and the price, RIGHT?
Nobody is required to sell anything to anybody they find so distasteful as to not want to do business with them. You have ZERO obligation. Same as the "Reserve the right to refuse service" in some establishments.
Have any of you ever heard of a real estate company called ideal agent? They advertised that they only charge you a 2% commission. How can they make money like that?
diymirage
HP@idle > hondaHP@redline
If a house sells for $500.000, 2 % is $10.000
How many 40 hour weeks do you need to put in to make 10K ?
I can see that be profitable, especially for a go-getter who turns multiple houses a month
That's pretty much what I figured.
One of the first schemes I ever saw like this actually used the phrase- "full assessed value, minus repairs".
For quite a while, I wondered who "assessed the value", then it occurred to me that they could use property tax assessors valuation, which is well documented and also historically low and behind the market value a few years. That would make perfect sense, as they could cite it as a reputable and knowledgeable source. They'd be able to start with a low offer, and then nickel and dime like you described on everything else.
Don't forget that the agent doesn't get the full 2%. The broker gets half and the listing agent and the selling agent split the balance of course unless the listing agent and the selling agent is the same person. I don't know how ideal agent works as in their commercials they don't mention who pays for the advertising.
diymirage
HP@idle > hondaHP@redline
i dont think that is completely true, i think if there is a second agent, they normally get 3 % as well of the top, not out of the same bucket as the listing agent
but i could be wrong on that
even so, lets say after splitting it, they clear 5K per house, that still seems doable to me
Check it out Those r/e co. charging the 2% is NOT their total fees! ha
Typical r/e commissions are 6% total. That is 3% listing agent and 3% on selling side. The broker gets 20% off the top. There are lots of expense and usually time involved, especially in farm/ranch properties. The broker job consists of many aspects, but most importantis seeing that the state r/e laws are meet in each transaction. That is Texas.
Selling homes in the burbs is a different duck that selling rural r/e, farm, ranch properties.
We see new r/e agents that pas the exam and get their license that I would notire to walk a dog in the burbs! Just like attorneys. Ran across an agent today that did not understand "easements". City chit.
Typical r/e commissions are 6% total. That is 3% listing agent and 3% on selling side. The broker gets 20% off the top. There are lots of expense and usually time involved, especially in farm/ranch properties. The broker job consists of many aspects, but most importantis seeing that the state r/e laws are meet in each transaction. That is Texas.
Selling homes in the burbs is a different duck that selling rural r/e, farm, ranch properties.
We see new r/e agents that pas the exam and get their license that I would notire to walk a dog in the burbs! Just like attorneys. Ran across an agent today that did not understand "easements". City chit.
When we sold our house in 2016 the broker got half. They charge us 6.5%.
Typically it's 6% with 3%going to the listing brokerage and 6% going to the selling brokerage. Then the brokerage pays the agent whatever they are set up to get paid.
On a $500k house, that's %15k per side, then the agent would get a percentage of the side. Now, it the same brokerage has the listing and the sale, the brokerage makes out like a bandit! Of course they are laws for disclose. Our brokerage would not allow the agent to to list a house and bring a buyer. They required a different agent represent the buyer to keep everything fair.
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