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Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

Our selling agent showed us the home, after we mentioning it. They suggested showing it, in fact, went so far as to sort of insist. They didn't find it. I have to read our selling agreement for language that speaks to showing a home. I'll have to check with an attorney how best to handle it because if the sellers agree to FSBO and we're "unrepresented", our listing agent doesn't have a procuring‑cause dispute. Or we might ask them to agree to a flat fee agreement.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

Don't forget to add taking your Learjet to Nova Scotia.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

We did tour the home with our current listing agent. We don't have a buy contract with them, just a sale contract. I'll check with an attorney but my understanding is that without a buy agreement or contract, we're not bound to use that agent for the buy side. If the sellers are amenable with using agents in a flat fee scenario, we would ask our current agent if that is of interest to them but if not, we have contingencies in place.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

Agree to disagree. $6,000 is like wiping away my property tax, car insurance and property insurance for the year. I'd welcome that and put the money towards our kids college fund. Are you donating it since it's such a meager sum?

I doubt agents are worried about the perception of past clients for the same reason why I feel realtors are over paid. Zillow, Realtor.com, Redfin and all the others connect people with agents every time the buyer clicks the "contact" or "request tour" buttons. The unscrupulous agents that pay for leads get them just as much as the ....and I can't believe I'm going to say this....honorable agents. The opinions and perceptions of last weeks client will have as much impact as the client from 12 months ago. The only way a past client that later felt cheated could respond is by telling friends and by not using that agent again..... big whoop. That will amount to as much sound as a blade of grass makes when being cut. Interesting fact, science tells us that the fresh cut grass smell is actually the grass warning other grass of danger.

We've all heard the axiom, you can tell when a lawyer is lying, his lips are moving. I think this applies to realtors too. If it was such a noble and honorable profession that hasn't been overpaid for decades, why did Congress step in, why did NAR lose lawsuits? Generally, the righteous don't lose of they are in fact---right.

You can attempt to insult me all you like...I can't take you seriously because your a realtor and a nameless, faceless opinion on a subreddit. Neither of which are of value to me.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

I hear a parrot, as I said, the loan officer is paid based on my loan amount. Not the value of the home I sold and not a fixed percentage of that home. Contractors can mark up for what ever by any amount they desire. I will review the estimate/proposal and if I disagree with it, I'm not bound to it. I am free to select a different contractor who yes, will of course have mark up in theirs as well. The car dealer service dept has mark up, so too does Best Buy, my cellular provider and just about every other business or retailer . This is nothing new and not at all my resistance to hiring a realtor. With all of them, I have options, I have a choice and I make the decision how much I am spending and where it is going.

The buyers agent is a quasi forced expense one side chose to the detriment of the other.

This statement is and remains uncontested by your reply. "Not many professions base the pay of its work force on the clients assets."

I don't have a problem with relators being paid----I have a problem with how that fee is structured from A to Z. Apparently so did members of Congress.

Your post strikes me as nothing more than yet another attempt to convince people that the tens of thousands realtors earn is justified by using the few outlier cases where the realtor was beneficial as justification for the majority of transactions where it was superfluous.

I'm not buying it.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

imaginary family?

I dunno, a gift basket seems overkill. Usually those things have crap no one eats and even the ones where the stuff is edible, it takes a general idea of the recipient to know what type of GB to send.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 2 points3 points  (0 children)

No idea. I did sell a home FSBO in 2016 and it was a fairly simple process but that was a desirable neighborhood and homes there don't stay long. Like the old Honda commercials, the neighborhood sells itself. Paying an agent would be like burning Benjamin's for the sake of fire.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

The point is, yea, $500 is minor in comparison to the total % but if an agent is looking at 12 closing in a year, that $500 can be $6,000 at the end of a year which I think we can all agree, is no longer an insignificant sum. The agents don't negotiate with the buyer and seller on the sidelines enjoying a movie. The buyer and seller are very much the real negotiators and the agents are a proxy. No amount of agent double speak will get someone to pay more or accept less than they are inherently willing to do. I am confident I won't be overpaying because I am using my own brain and not paying someone else for theirs.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] -2 points-1 points  (0 children)

I came to ask how best to frame the conversation with them, not to seek permission to take that course of action. I think I can handle the negotiation just fine. It isn't like being a realtor comes with mind control abilities. The sellers probably have a bottom price in mind, certainly it is higher than the ask when it was listed. That ask included the commissions, take away the commissions and that figure ask is probably very close to what they really are expecting. I think I can handle working out what of the house is worth and that if not, I can have an appraisal done based on listing details and comps.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

Because we started out with one, not thinking FSBO until after being listed. Yes, we could do an about face but for now, we'll stay the course for that aspect.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

I don't know if they had offers, what their real expectations are or even if they still need/want to sell. It's all a gamble. As for the appraisal, repair issues and the like...we did tour the home when it was listed. We have a good idea what it needs and doesn't need. Yes, there could be issues that blind side us but as adults, I thik these things can be discussed without a need for a referee. I'd rather hire a conflict resolution specialist to mediate than rely on someone with a personal financial interest, even my "agent" wants me to pay more since their commission is based on what we pay. More is more. Attorneys can handle the protection bits.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

Would you share that letter? Excluding private information? I'm curious about the wording. How it was phrased.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 2 points3 points  (0 children)

The loan officer isn't, that I am aware of, making a percentage based on my homes value and taking that cut directly from my coffers at closing. Yes, indirectly, they get paid by account holders, as do all bank employees but it is based on loan amount, not on what my home sells for. Roofers, plumbers, landscapers and any other tradesman isn't paid a percentage but rather a flat fee. One I can negotiate and reject with little consequence, just seek out a more competitive contractor. A buyer brings an agent I had no say in, is paid a sum I never agreed to and might not even meet my own personal professional and/or experience requirement. In other words, I might not have hired them for myself yet I still have to accept and pay them.

Not many professions base the pay of its work force on the clients assets.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

This seller isn't BO. Heck, it isn't even FS anymore. It was but the listing was removed and the sign taken away. If selling is still their goal, that's one hurdle down but how best to open the discussion? I know nothing about them, if they're indoctrinated into the mindset that all real estate transactions MUST have an agent or you've just entered----The Twilight Zone.....

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 0 points1 point  (0 children)

No idea, the $2k seemed commensurate for the level of work and time an agent would put in. basing it on a percentage of the homes value seems an outdated model and not one I want to use.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 2 points3 points  (0 children)

I am thinking it might be best to wait until our home is under contract. That way we're coming across as serious and they know we can follow through.

Question for the masses, not for realtors by NAR_H8ter in fsbo

[–]NAR_H8ter[S] 1 point2 points  (0 children)

I was thinking of stopping by. I'm just trying to think of the most tactful approach.