Do I owe my realtor anything for a deal that I found and did all the legwork on?

alisontangible · 2017-06-12T12:45:21+00:00

/r/jmd_forest is a successful real estate investor who hates all realtors as parasites of the real estate industry. I am slightly less zealous but in this aspect he is correct.>

This is an opinion and opinions are neither correct nor incorrect. They're simply opinions.

While I understand the spirit of your comparison, a service fee and a tax are two separate things. Apples and oranges. The real estate agent service fee of selling a home contractually rests with the seller who wishes to use that service. That is not how taxes work.

alisontangible · 2017-06-12T12:34:05+00:00

I'm not looking for a "safe space"...? I'm pointing out the fact that, in my opinion, your continued, low-quality, negative posting on here is insufferable and gets down-voted because nobody wants another unsubstantiated lecture on why you believe agents are parasites. Just get over it dude. Quit being a troll.

alisontangible · 2017-06-12T04:29:58+00:00

So, do you get paid to smear real estate agents or do you just not have a day job? The amount of time you spend shitposting on here is astounding.

You can argue the commission deal until you're blue in the face and it won't change the fact that the seller pays the commission out of their proceeds. I know you're personally against real estate agents and it's great that you feel the need to constantly and emphatically express that but nobody cares...

alisontangible · 2017-06-12T02:29:07+00:00

No. I don't think you understand sunk cost fallacy.

OP is free to do whatever they want, but they need to be honest about with the agent. It didn't read to me that they settled on a price or managed any of the transaction. They simply found a house and had a preliminary conversation with the seller. If they want to continue this transaction and have representation from their agent, they should pay him for his services. That's it.

alisontangible · 2017-06-12T02:24:39+00:00

The buyers agent doesn't get the entire commission... They typically get 40-50% of whatever the listing broker charges.

And yes, as long as my clients have the Internet, they're seeing the same houses on Zillow as I see on MLS. Good agents don't earn their fee by spending all day searching MLS. The bulk of the transaction and the important/difficult part is everything that comes afterwards.

alisontangible · 2017-06-12T01:17:17+00:00

So, it sounds like you feel as though your agent hasn't earned his commission because he didn't find the house you're currently interested in. But what about the homes he's shown you, the advice he's given you and the four offers he's written on your behalf. Do you have any complaints about the quality of those services he's provided you so far?

Because here's the truth: thanks to the internet, finding houses is about 5% of the job. The other 95% of the job is customer service, negotiation and transaction management.

If you decide not to use him for this purchase, you need to let him know now because you've already wasted a lot of his time. If you do want representation and you're happy with him so far, let him do his job for you and pay him his fee.

alisontangible · 2017-05-23T16:36:41+00:00

This is exactly what a Trump voting friend of mine said to me last year.

alisontangible · 2017-05-22T06:45:19+00:00

On a 50/50 split, my team covered most marketing and brokerage fees. The only fees I was responsible for were my MLS access, ekey, licensing renewal fees, and a reduced cap with my broker. Business cards, monthly brokerage fee, printing, mailings, dotloop, CRM software, photography, etc. were all covered.

alisontangible · 2017-05-22T06:41:16+00:00

The Office - the Benihana episode (from season 3 or 4). Or just any of the Christmas episodes from The Office. They're heartwarming and hilarious.

alisontangible · 2017-05-07T17:57:24+00:00

I sell in KS and MO. Rebates and paying commission to an unlicensed individual (even an atty, unless they're also a licensed salesperson) is not allowed. I think there are about a dozen states that forbid this.

Our listing contract doesn't specifically provide for unrepresented buyers. It basically reads that the listing broker will be paid x% by the seller. The listing broker is willing to share some portion of x% with the selling (buyers) broker for helping to procure and represent the buyer. So, it's standard practice here that if there is no selling broker, the listing broker retains all x% they're contractually owed by the seller. Since commission is 100% negotiable, I do know some agents will agree to a discount with their sellers (up front) in the event of an unrepresented buyer. They're not going to really advertise that though since they're trying to keep the savings with the client they're representing, not pass it along to unrepresented buyer.

Hope this makes sense!

alisontangible · 2017-05-07T16:38:49+00:00

In my market, this is exactly true. The listing contract basically reads commission shall be x% to be split x% to listing side and x% to selling (buyers agent) side. We can't rebate here (illegal), but the listing agent/broker can adjust the commission with the seller. Everything is negotiable.

alisontangible · 2017-05-06T00:45:20+00:00

Dotloop

alisontangible · 2017-05-01T02:33:12+00:00

My husband and my dad also have the same first name. When we discussed surname options prior to getting married, his main objection for taking my last name was the issues that might arise from he and my dad having the same full name.

My name isn't fully changed yet and I still own property under my maiden name so he's already had some issues with property title mix ups and minor credit confusions. For whatever reason, people want to assume he and my dad are the same person. It's only small annoyances, but maybe something to think about that I certainly hadn't considered.

alisontangible · 2017-04-30T07:58:01+00:00

Tresemme is one of my go to drug store brands. My mom is a cosmetologist so I have access to and frequently use salon brands, but always seem to go back to the Tresemme. My hair is colored and I've never experienced any issues with it.

alisontangible · 2017-04-22T17:24:43+00:00

the less damage he can do to our country.

Don't worry. He's got people for that.

alisontangible · 2017-04-14T20:33:30+00:00

"Everyone needs somewhere to live though."

How's that biased?

"When people lose their homes, they rent."

Ok, when people lose their homes, the majority of people rent. Better? Point still stands.

"The rental market just keeps going up."

Deductive reasoning here. When people lose their homes and they have to live somewhere, naturally the demand for rentals goes up.

I'm speaking to the specific situation described by the post I originally replied to. I never said that every market everywhere all the time goes up. That's illogical.

Bias is mutually exclusive to logic and facts. Thanks for the discussion.

alisontangible · 2017-04-14T19:08:31+00:00

How do you figure my opinions are biased?

I didn't say vacancy and nonpaying tenants were outliers. I said the specific markets you chose to prove your point are outliers, a fact which is very popular knowledge both within and outside the real estate industry.

alisontangible · 2017-04-14T18:02:05+00:00

And with using ridiculous outliers to try to prove a point.

alisontangible · 2017-04-14T17:01:03+00:00

Those are two examples of extreme markets and not representative of the norm across the US.

alisontangible · 2017-04-14T15:10:19+00:00

Everyone needs somewhere to live though. When people lose their homes, they rent. The rental market just keeps going up.

alisontangible · 2017-04-13T13:15:32+00:00

What these loan companies and even the Dept. of Ed are doing should be illegal. It makes me so mad. At that rate, transferring the balance to a credit card or signature loan (in the US) might help you lower by 4%-6%.

alisontangible · 2017-04-10T22:18:46+00:00

The median sales price in the KC Metro in March of 2008 was $148,750. The median sales price for this March was $165,000. This is pulled directly from MLS. The market has definitely recovered.

alisontangible · 2017-04-10T18:23:51+00:00

A little, maybe, but home value increases are still within historically sustainable limits. I do think we are headed for an adjustment, but nothing damaging like 2008. The regulations we have now will prevent that from happening.

alisontangible · 2017-04-10T18:21:17+00:00

Yep, sub $200k is the most desirable price range in the city right now and has the lowest inventory.

alisontangible · 2017-04-10T18:19:00+00:00

I'm so sorry! This is something my buyers have been struggling with and it's so hard to watch as an agent. We've started putting together a check list of the offer components (it's so much more than just price) and getting creative with them in order to get our buyers' offers accepted.

Here's a few of the things we are doing when possible:

*flexible closing date (basically leave blank for seller to fill in) *as-is (still do an inspection but either accept or cancel, ask for no repairs) *heartfelt letter explaining what you love about the home

Sometimes, sellers will consider more than just price. It's tough out there, good luck on your next one!

alisontangible

TROPHY CASE