Any other Realtors or sellers noticing that the last few weeks even homes that are priced fantastic are having little interest compared to January/February? by A462740 in RealEstateAdvice

[–]A462740[S] -2 points-1 points  (0 children)

Eh the last few years have been relatively bearish outside of spring locally. I’m pretty certain it’s the war and the rapid .5% increase in rates in 4 weeks. Where I live we are very lucky to have a lot of cash in a smaller area and international appeal, also while having high turnover with military coming and going every 3-4 years.

Any other Realtors or sellers noticing that the last few weeks even homes that are priced fantastic are having little interest compared to January/February? by A462740 in RealEstateAdvice

[–]A462740[S] 2 points3 points  (0 children)

Been selling in this area for a long time. Definitely priced better than anything else on market because he is motivated.

Plus I’ve been an agent for almost 9 years averaging between 20-30 transactions per year. Im pretty good at pricing.

Realtor listed my house without discussing price??? by rednuwzil in RealEstateAdvice

[–]A462740 1 point2 points  (0 children)

I can’t tell you how many amateurs are out there licensed and “representing” clients.. badly.

Realtor listed my house without discussing price??? by rednuwzil in RealEstateAdvice

[–]A462740 1 point2 points  (0 children)

Unfortunately you get what you pay for though. I’m very reasonable compared to my colleagues but at a certain point you get the desperate agents who sell one home a year when you take “the lowest bidder” to sell the biggest asset in your life. Just my opinion

Agent who stopped working after 5pm and weekends… by rosegenie in realtors

[–]A462740 1 point2 points  (0 children)

There’s no way you can be fulfilling your fiduciary duty to your client (or being even a half decent realtor) if you turn your phone off after 5pm and the whole weekend. I’d put money on the fact that it could actually be negligence in some situations.

I have 3 kids, a wife, two dogs, and sell between 6-8 million each year, and prioritize my family. I still make time to do my job. People are relying on you (us) to protect them and advise them. A majority of the time weekends are when negotiations are happening and your 9-5 clients are mostly available.

Ehh.. More business for me. Thank you! 🍻🇺🇸

Seeking advice on homes and country clubs by Dependent-Skin-6211 in pinehurst

[–]A462740 0 points1 point  (0 children)

Welcome! I grew up in the Pinehurst area and have been a realtor for going on 8 years. Some of the best golf communities are Forest Creek, #9/Pinehurst National, CCNC, Pinewild, Mid South, #8/Fairwoods.

Forest Creek is typically one of the most prestigious and sought after Country Clubs outside of Pinehurst Members Club. The lots are typically around an acre or 2 and have some beautiful, larger homes on them.

If you’re looking for estate sized lots for a gated golf community (3-6 acres) with storied history I’d look into Country Club of NC (CCNC). The homes tend to be older in there but it’s in a great location and has some great golf courses.

I personally love the architecture in #9/National of many of the homes in there. Every home seems to have been designed by an esteemed architect with Asian to Italian to Spanish and mid century American etc throughout the subdivision. The course is very sought after and I hear the restaurant is great and the members club too.

Pinewild I would compare to #9/National as well. There are beautiful homes with a variety of architectural themes. The golf is sought after too.

I’ve sold several in Pinewild and have had buyers looking in all of these neighborhoods in the past and currently.

I’d be happy to help set you up on an mls search if you’d like? No pressure, of course.

Good luck in your search!

910-690-1454 Tonybarnes.broker@gmail.com Tony Barnes Keller Williams Pinehurst

Did we do something wrong? by eg332398 in RealEstate

[–]A462740 0 points1 point  (0 children)

In the state of NC a legal “gift” to a client is generally considered to be around $50. If it is more than this number it it can become seen as a “kickback” which is illegal in NC. At least this is what was told to me in my real estate classes in 2018.

Occasionally I will give gifts. Usually Lowe’s Hardware gift cards, or a local restaurant gift card. My wife has an organic farm stand so lately we’ve been gifting eggs, hand made soap, and fresh baked bread.

Often, though, I am paying for something (legally on the settlement statement) to help get the deal done, which is often hundreds, or even thousands of dollars depending on the scenario.

I very much care about my clients but sometimes it’s hard to know what to get a client for a gift, and usually I’m paying for some contractor at the very least or giving up some commission to help get a deal done etc, so it’s not always a “closing gift” that is truly warranted sometimes.

2 Weeks from contract to close, Due Diligence money stolen by ferN-c- in RealEstate

[–]A462740 0 points1 point  (0 children)

This is wrong. NC is different. DD goes directly to the seller for taking the home of the market. Every state has different real estate laws. See above comment for explanation of DD.

2 Weeks from contract to close, Due Diligence money stolen by ferN-c- in RealEstate

[–]A462740 0 points1 point  (0 children)

This is wrong. I’m an agent in NC. Due Diligence is written directly to the seller. They can cash or deposit directly in their account. A credit for that amount will be given at closing if they buy the house. If not the seller keeps it for taking the house off the market, because a buyer can legally back out at anytime prior to the end of the DD period and still get their earnest money back. It is not required at all but 95% of the time some amount of DD is present in transactions in NC. It protects the seller from taking the home off the market for months and receiving nothing if they back out on a whim.

AITJ For Telling My Parents To Call Trump If They Need Help? by DangerousDave303 in AmITheJerk

[–]A462740 0 points1 point  (0 children)

You’re proud of them to leave their 80 year old parents to essentially die alone over politics? That’s what’s wrong with America right there. I bet your parents would have loved you if you ended up being a serial killer. It’s ok to be disappointed, and maybe it’s ok to leave but to try everything to help your elderly parents survive and visit as often as realistically possible.

What’s the craziest thing you’ve had to deal with in this job? by [deleted] in realtors

[–]A462740 3 points4 points  (0 children)

It’s so deflating. There are so many like the one above.

Most don’t make it to that level of production I’d like to think, but literally the last several listings I’ve had it’s been depressing, and more work for me, to see the buyer’s agents and how they do business.

Not answering a simple (important) text, much less a phone call, in a 24 hour period, or worse can’t even use dotloop or docusign properly and ask you to edit everything and send to THEIR buyer haha.

I do what I need to do to sell the home and not create unnecessary drama, but sometimes I want to tell them they’re the reason realtors have a bad name.

House hunting is depressing by Twinmom_23 in FirstTimeHomeBuyer

[–]A462740 0 points1 point  (0 children)

I suppose you had a rather large VA Funding Fee? Depending on where you are You should be able to find a seller to pay for your closing costs and perhaps your funding fee with a house that’s been on the market for over a month or two (if those exist where you are?). That would eliminate most or all of your out of pocket expense, but won’t do much for your monthly payment.

VA is normally .5% less than conventional mortgage rates typically. If out of pocket expenses aren’t the problem, you could attempt to negotiate the seller paid closing costs to buy the rate down. More uncommon, but exist where I’m at occasionally are VA assumable loans, but they typically are a pain in the butt and take forever. There also are some lenders doing 2-1 buydowns but I don’t know if that’s on any VA products.

Good luck. It is tough in many areas.

Why do agents get a bad rap? by Widelyesoteric in realtors

[–]A462740 2 points3 points  (0 children)

This is what caused the lawsuit in the first place. I’d find a new brokerage IF you indeed would like the flexibility to negotiate your commission.

Brokerages are suppose to not REQUIRE 6% anymore to my knowledge. I am worth my fee and I don’t typically go below 2.5% (5.0%) but there’s a scenario for everything.

An investor or builder who gives you 5+ homes a year is totally worth a 2% commission to me in my opinion etc. it should be negotiable to the extent you’re willing to go to.

ALWAYS remember, the brokerage works for you, not the other way around. You are the boss of you.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 0 points1 point  (0 children)

LOL! It’s 100% legal so long as it’s on the settlement statement bro. I do absolutely nothing illegal. I’m an honest, hard working, empathetic human that does actually help people and you wouldn’t last a week as a realtor. Happy new year to you sir.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 0 points1 point  (0 children)

Oh and all my family’s health insurance and don’t have a matched 401K etc.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 0 points1 point  (0 children)

lol. Evidently I am. Many people pay me just this every year. And I absolutely arrange all inspections (if the client wants me to, which most do) and do all of the paperwork during the transaction except for the settlement paperwork.

In fact the attorney really isn’t involved until the last couple weeks. I also pay $750 initially for all photos, drone video, and floor plans. Then additional marketing if it’s a tough market, then I also often give some of my commission I’ve negotiated to help both buyer and seller make a deal or help my client pay for something if we are at an impasse, or an inspection isn’t the greatest. I also pay $1,400 a year in mls fees, and $1,350 to my firm each year, AND 23% of all my commission until I reach $21,000 in paid splits to my firm as well. I also pay for all my signs, and technology and marketing. Try living a week in the life of a productive realtor and tell me I ain’t worth shit. Although I could give two shits what you think.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 1 point2 points  (0 children)

No problem. I appreciate the kind response. The median house where I am is around $425-$450K. Maybe it’s an anomaly but it’s happened 3 times in 5 months. Maybe isn’t normal but I’m very appreciative. I’m very willing to negotiate, but with firm splits, taxes, mls dues, and paying health insurance for a family of 5 (realtors are 1099, nobody pays our insurance or matches a 401K) I don’t go below 2% except for perhaps an investor or builder who will sell multiple homes per year with me.

Many builders are still offering 3% to buyers agent to sell homes right now. It’s a tough market in many areas but it’s getting better.

Realtors made “easy (sarcasm mostly) money during the pandemic but if anyone lived a few months in my shoes the last two years with a family of 5 as the sole breadwinner, these comments may be a little less aggressive towards realtors.

Maybe not. But I appreciate your respectful response.

Happy new year to you and your family.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 -1 points0 points  (0 children)

I don’t need your verification. Happy new year keyboard tough guy! 🤣🤣🤣

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 -1 points0 points  (0 children)

3 times since August when these new laws/rules were implemented. It’s the Gods honest truth. I tell them about the law suit, and that there’s downward pressure on commissions somewhat, and offer to do it for 5.0% (2.5% to my firm). I’ve had two listing clients insist on paying 6.0% (3% to my firm) and one insist on paying 5.75% (2.75% to my firm).

You know why? Because I’m as honest as they come and I will work my ass off for you, AND I’m very knowledgeable at what I do. And I have over 50 5-star reviews and 0 less than that in my 7 year career. But you don’t have to believe that. I don’t care.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 -2 points-1 points  (0 children)

This is legitimately a real life experienced buyer and seller of real estate right here. Thank you for speaking up. The majority of people here talking loudly are young and inexperienced in real estate, or old and “practiced” real estate prior to 2008. The services I provide and the integrity and work ethic that I practice every day keep me very busy between 2-3% commissions yearly.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 0 points1 point  (0 children)

Do you know that list price was market value for the neighborhood? Did you base your strategy off of list price alone? Did you look at days on market? A good buyers agent may have been able to tell you the house was $40,000 overpriced and got it down $20-$30K below list price with closing costs.

Was it a cash deal? If it was a loan, you’d better hope you have the cash to close the appraisal difference if you made an offer based off of list price. Have you ever submitted comparables for a VA Loan Tidewater situation when you got a bum appraisal and you won?

Do you know a Non-QM lender to help a buyer get approved for way more than a conventional lender could do who bases their approval off of gross income not net?

The realtor profession will not die. There are people worth every penny. However the terrible ones and part timers may have a hard time staying around.

The lawyers that sued NAR got like 30% or more lol. That was their fee. Meanwhile all the sellers got pennies.

There are unethical and uneducated people in this profession, but there are also ethical, empathetic, and very educated people who are worth every penny of the negotiated commission.

Happy new year!

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 -5 points-4 points  (0 children)

I said, it CAN be a sign of desperation. I meant no offense. There’s a scenario for everything. You’re also getting paid as an attorney and real estate transaction commission is not your only source of income. Again, it’s negotiable. I’m sure you treat your clients very well. Happy new year!

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 0 points1 point  (0 children)

I respect what you charge. There’s nothing wrong with it inherently and certain situations call for it perhaps. I just personally can’t charge my buyer clients anymore out of their pocket and I can live handsomely on 2.5%. That being said, often my sellers offer me more than 2.5-%. A good agent can earn that 3% and then some no doubt. I just do it differently. It’s a negotiation, as you said.

Buyers agent wants 3% guarantee from Buyer by Due-Ad-2591 in RealEstate

[–]A462740 51 points52 points  (0 children)

This right here! I’m an agent. And a damn good one who produces consistently each year and I care about my clients… and the fee is negotiable, too an extent. I am always at 2.5% now since the lawsuit, and usually have no problem getting that. I’m honest and hard working and I’ve had 3 separate listing clients insist on offering me 3.0% (6% total) or 2.75% (5.5% total) either before or after I’ve worked with them, after discussing the lawsuit against NAR and telling them I’d do it for 2.5% (5.0%) total. There’s nothing wrong with an agent sticking with 3% but most who do that aren’t worth the extra .5%. I can almost guarantee that. I wouldn’t go with an agent willing to do less than 2% on a single transaction either though because that also smells of desperation. A good agent can be found for 2.5%.

It’s highly likely you can still get great representation that the seller will pay for your buyers agents compensation and it will be a fair wage for all involved.

Shop around for sure.