Skip to main content

It seems like companies are throwing darts trying to figure out the next best way to Buy and Sell Real Estate.

Maybe my opinion is based off seeing the houses in and around my market double in some cases. So that is something more than "inflation." But taking inflation into account...Back in the day Realtors were doing a bunch of work to receive 3% of a $100,000 house. Now we (yes I'm a Realtor) are searching online, and doing all paperwork virtually for 3% of a 1,000,000 house.

Just like most other industries, technology has simplified the Realtors work load...yet we are still being paid the same commission percentage as if we were thumbing through the newspaper. Companies and business professionals see the gap in the industry and are trying to fix it. I'm curious to see how this pans out in the next 10 years.

I certainly do not think a Realtor should receive 3% across the board whether it's a $300,000 or a $16,000,000 house. I've had my license for almost 12 years and I own a marketing company that represents brokers and agents, one of which is one of the top 1% producing agents in the US. So I do see the work load between $300,000 listings and $16,000,000 listings (our current most expensive listing)...and it is pretty much the same. Why wouldn't it be the same? I've never told a client "Well...I would market your home more but your home is only worth $300,000."

Aside from ibuying I do see a company in my area that is charging $5,000 upfront + 2.5% (for the buyers agent). I actually like the idea but I think it should be more like $1k to list your house, $4k if it closes then 2% for the buyers agent. And if there is no buyers agent then maybe the listing company works out a facilitator deal where they get an additional $5k at closing. Then the seller is only out $10k. And the seller should be responsible for hiring / paying a photographer off the Realtors recommendation. Meaning "here's a list of photographers I use based on price."

I'm curious if anyone else has seen a company in their area have success using another model for a real estate transaction, because it doesn't seem like one has really taken off yet.

Side Note: I pitched a show to HGTV about this whole topic and called it "Real Estate Rehab" and they passed....shocker lol

submitted by /u/forallthesleep
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/r51ok2/it_seems_like_companies_are_throwing_darts_trying/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more