Realtor Stories (cont'd) - Mercedes-Benz Forum

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post #1 of 2 (permalink) Old 01-16-2006, 07:30 PM Thread Starter
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Realtor Stories (cont'd)

Subject: Realtor Stories (cont'd)

"I had a personal experience with the "non-collusion" of realtors. Tried to sell our house ourselves, got it listed on the MLS, and had a parade of realtors come through... without clients. Three months pass, we get it listed with a realtor-- who did absolutely nothing-- and the same realtors came through with clients. Other FSBOs have shared this experience. In spite of guaranteeing a commission to the buyers' agent, there was no desire on the part of the realtors to give business to the FSBO.

Many of the realtors, of course, tried to sell me their services. I asked what value they would add. More than one cited the many customers they were helping find a home(none of who they were bringing by-- collusion, anyone?). One spent a long time pointing out that she would also help find a new home. I pointed out that by not showing her current customers all the available properties (e.g., mine), she was demonstrating that she didn't look out for her customers' best interests.

It's a slimy industry. I would never accuse every member of being slimy, but I met enough who lied to my face about their business that it left me with a horrible taste in my mouth.

The model for commissions should be sellers' agents getting a much larger percentage of the amount above the assessment. Maybe 15% of the sales price above assessment. And the buyers' agents should get a flat fee based on the assessment (or perhaps even a decreasing percentage).

Thank goodness the auto sales industry has evolved. Last purchase, I used several buyers' services and ample online info to find the best deal in our region. Then I took that price down the street and said "the sale is yours if you can meet this price." Answer: "yes." Total research: maybe 1/2 hour. Total haggling: 3 seconds.

Posted by: Mike M at May 11, 2005 10:42:07 AM

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post #2 of 2 (permalink) Old 01-16-2006, 10:54 PM
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RE: Realtor Stories (cont'd)

I tend to agree with you.

As a group, the realtors I have met I simply do not like. They come off as an arrogant group if there ever was one.

On the other hand I have met a few realtors who really did a good job and were honest. But they were few and far between.

I am thinking about getting my RE license just so I can get homes to fix up and resell. I am not interested in driving around showing homes all day. My thing is finding ugly homes that are beat up. So far I keep putting it off, because I am finding FSBO homes that are just what I am looking for.

I called a realtor to see a home last week and it took me 3 days before I could get in to see the damn thing. The realtor didn't call me back. Then when she set up a time, I was prompt and she was not there and neither was her client. I finally got in the next day to see the overpriced home (bumped for the commission) that was on the market for 90 days now. Her partner called me two days later to see if I "still would like to see the property." Dumb and dumber they were. What a joke!

I remember selling a FSBO out west. I sent off several emails offering buyer agents 3 percent if they landed a buyer. The responses I got were down right obnoxious; one even told me I had violated a spam law and should send him money or he would "report me". What an incredible bunch of jackasses. The funniest reply I got was an email that said "We only work with proffessional agenets!!". I replied asking him why I would trust somebody to sell my home that did not even use spell check. Finally others replied telling me they would show a buyer for an extra percent (4 percent total) since they "Had to do more paperwork". What a crock.......

I am looking at another home here coming up, it will be FSBO all the way when I sell it. I could not imagine giving up thousands of dollars of my hard earned money for somebody to do NOTHING. My outlook is pretty simple: Make the home look amazing, and it will sell itself!

Anybody got an ugly home they wanna sell me?

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