#16
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I meant trying to negotiate with your agent on a high dollar purchase,primarily where you've done most of the footwork. |
#17
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#18
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No inside info but a general rule of thumb for service companies is 1/3 goes to labor, 1/3 goes to owners, and 1/3 covers costs.
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Instagram - DannAdore Bicycles |
#19
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I have no idea what it costs to get a brokerage license to list/use the MLS, but there's gatekeeping up and down the chain in that whole industry. All the money being pumped in by Redfin and Zillow has done **** all in changing the model. |
#20
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My 83-year-old mom is a broker in the DFW area. She has her own company and rarely charges 6%. The commission rate is discounted if it's her listing and her clients. She keeps threatening to retire, but real estate is her social life.
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#21
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Relocation companies generally take 40% of the commission on a referral also. Jeff |
#22
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A lot of big brokerages with good agents take around 155, but there are numerous brokerages that just charge a desk fee and a fee for each transaction. You don't pay the brokerage much but you don't get much support. Other brokers take say 20% but cap it at a certain level of commissions and then the agent gets it all. My brokerage spent $2b on technology in recent years - but there are a lot of agents. As you get into really high end homes the marketing expenses can be really high. And if you don't sell the house it is a big hit on your business. There are good times and bad times. When times are good everybody wants to be a Realtor. There are all kinds of choices. Jeff |
#23
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It's reprehensible that this area has been so ill-regulated for so long. But the real estate industry writ large is probably only behind pharmaceutical, petroleum, and defense contracting industries in terms of lobbying capital/power. |
#24
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Does this mean if I picked out a house I wanted to buy...and it was listed, I could negotiate with listing agent for only the commission they would receive as the selling agent and avoid paying the other half of the commission normally paid to buyers agent? Not aware they would do this in past.
Around here, it's pretty common for listing agent to agree to a 4-4.5% commission. Maybe 2% to selling agent, and 2%-2.5% to buyers agent. It's still a pretty big commission with todays higher priced homes. And BTW I'm in total agreement a good agent should be well compensated for their work and expertise. |
#25
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So should we regulate fees for attorneys, the tech industry and all other fields? I am not a fan of big government. Jeff |
#26
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The govt has stepped in to regulate what LO's can get too. Used to be 'whatever the client agrees to' was fine. These days? Dunno. I know one of the brokers I used to work for kvetched at me for not charging enough... but he also had one of the biggest houses in Tierrasanta to pay for. M |
#27
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#28
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What's that quote? “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
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#30
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In this case, I think certain realtors betray themselves. If prices were already being competitively negotiated and reflected the value-added by the agents, then this is just a technical change and nothing to worry about.
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Instagram - DannAdore Bicycles |
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