Real estate questions, sales, land, old vs new etc...

[tpgsr]

[quote=“drvnkd,post:40,topic:274011"”]

Agents have quite the union going.
I finally caved to my wife’s constant pestering to use an agent.

Agents can absolutely be helpful when trouble arises… BUT, I don’t see 6% of value to remove my house from the blacklist.
Like all things, you pay a premium for convenience.

Also note, Agents will lie about for sale by owner properties. My wife called one about our house. It had apparently sold.

Real estate brokerage is where it’s at. 90 hours of training and a test (I think it’s 90). Then take 2% from all of your agents for the opportunity
to sell houses.

[/quote]

If you haven’t already signed, I have an agent that will work her ass off to sell your house. She is one of the 1% of them that is more than a check casher.

[boardjnky4]

[quote=“1QIKZ,post:39,topic:274011"”]

Glorifed locksmiths in my opinion. I think boardjnky4 managed to land the 1 in 10,000 who give a shit about their job and work hard. As far as his difficult buyer, I’d have told him to go fuck himself in short order.

[/quote]

Which is why I hired an agent… I actually wanted to sell the house.

[quote=“drvnkd,post:40,topic:274011"”]

Agents have quite the union going.
I finally caved to my wife’s constant pestering to use an agent.

Agents can absolutely be helpful when trouble arises… BUT, I don’t see 6% of value to remove my house from the blacklist.
Like all things, you pay a premium for convenience.

Also note, Agents will lie about for sale by owner properties. My wife called one about our house. It had apparently sold.

Real estate brokerage is where it’s at. 90 hours of training and a test (I think it’s 90). Then take 2% from all of your agents for the opportunity
to sell houses.

[/quote]

I know 2% sounds like a lot. But after your parent company takes 1/2 that money, and after you pay money for leads, you’re aren’t left with shit. And it’s a SERIOUS time commitment. Working all sorts of fucked up hours. Oh, and the training isn’t that easy.

Regarding the FSBO, yes, they lie about FSBO because it isn’t worth their time to show you that house. They don’t want you to buy it.

If anyone in Buffalo needs an Agent, Call Donna Starnes at Hunt. Worked with her over the winter to sell a house in OP, during a VERY difficult time in our lives (my wife’s mother passed away). She really earned her commission on that one.

[Blue_Eyed_Devil]

I would love to sell $10 million houses in Aspen, etc. Sell one house per year. lol

[boardjnky4]

@Blue Eyed Devil

I would love to sell $10 million houses in Aspen, etc. Sell one house per year. lol

haha yeah … the only way to make a lot of money is to sell houses that are higher dollar. Even if you can get into selling places in the 350k+ range, you can start making decent money. But selling a 100k house, you get 2k in raw commission. Then you have MLS Fees, Paying for Leads (you can’t cheap out here) and you have to pay probably 1/2 that commission to your parent company (up to a certain amount per year). So at best you walk away with $1k. And how many hours did you spend with the client? 2 Saturdays showing houses plus another 10 hours negotiating and other BS? That’s probably 26 hours. So $38/hour. Not bad money, but not amazing money either. And that’s best case scenario, in terms of time commitment and money.

[Blue_Eyed_Devil]

I was thinking it was 7% then split. Where are these 2% then split numbers coming from?

[boardjnky4]

@Blue Eyed Devil

I was thinking it was 7% then split. Where are these 2% then split numbers coming from?

usually it’s 6% with a 4(seller)/2(buyer) split or 3.5/2.5 split.

[tpgsr]

@boardjnky4

usually it’s 6% with a 4(seller)/2(buyer) split or 3.5/2.5 split.

If it is 6% I have only ever seen 3-3. After the 3% is paid to the brokerage the agent is paid a percentage of that based on their agreement and overall sales volume. Once they cross a line (say 2mm) in sales they will get a larger percentage of the total. A lot of firms are pushing higher comissions at the 7% range. Also know that this is always a negotiable number. My parents just sold their home in Florida and got both the buyers agent and thier agent to drop a point. This gave them a 2% overall savings on the transaction.

[Blue_Eyed_Devil]

So what if Hunt sells a Hunt listing? There should be one less split. No? Or does Hunt double dip?

[boardjnky4]

@tpgsr

If it is 6% I have only ever seen 3-3. After the 3% is paid to the brokerage the agent is paid a percentage of that based on their agreement and overall sales volume. Once they cross a line (say 2mm) in sales they will get a larger percentage of the total. A lot of firms are pushing higher comissions at the 7% range. Also know that this is always a negotiable number. My parents just sold their home in Florida and got both the buyers agent and thier agent to drop a point. This gave them a 2% overall savings on the transaction.

I’m sure it differs by state. Here in NC, 6 is the standard, and it’s not usually a straight split. My agent (who is a griend) ended up doing my house for 5 (2.5/2.5), but that’s not the norm.

[drvnkd]

@tpgsr

If it is 6% I have only ever seen 3-3. After the 3% is paid to the brokerage the agent is paid a percentage of that based on their agreement and overall sales volume. Once they cross a line (say 2mm) in sales they will get a larger percentage of the total. A lot of firms are pushing higher comissions at the 7% range. Also know that this is always a negotiable number. My parents just sold their home in Florida and got both the buyers agent and thier agent to drop a point. This gave them a 2% overall savings on the transaction.

We got ours down to 6%, and might get more if the buyers agent is from Hunt. Or better if my agent finds her own buyer.
Since whatever we have to pay is that much less of a down payment, it’s a straight $50/month for 30 years equivalent.

I wonder how many people would pay such high rates if it was not so easy to just finance it away.

[tpgsr]

@Blue Eyed Devil

So what if Hunt sells a Hunt listing? There should be one less split. No? Or does Hunt double dip?

They get paid on both ends. Hunt is a brokerage that employees a ton of agents as contractors. If however, your agent sells your home to one of their buyers then you will often pay a reduced rate.

My sister-in-law just bought a house and acted as her own agent in the process. She still had to pay hunt their percentage of her purchase.

[drvnkd]

@boardjnky4

I’m sure it differs by state. Here in NC, 6 is the standard, and it’s not usually a straight split. My agent (who is a griend) ended up doing my house for 5 (2.5/2.5), but that’s not the norm.

So the agent that hustled to help you out was also a friend?
Not that it should matter…

[boardjnky4]

[quote=“drvnkd,post:52,topic:274011"”]

So the agent that hustled to help you out was also a friend?
Not that it should matter…

[/quote]

It DOESN’T in this case. He’s seriously super hard working and has been in the business for more than 15 years.

[boardjnky4]

Regardless of the minor details on the percentages that each realtor makes, I still think there is value in it.

1 - More showings
2 - Accurate pricing based on comps and condition of your house
3 - Less headaches

[1QIKZ]

My buddy’s wife got into that game…briefly. I don’t think she had any clue what was involved. Of what I knew of her, I figured it wouldn’t last very long. She proved me right.

[drvnkd]

Had our 1st showing prior to a ‘sanctioned’ open house.
It was a couple that was very interested after they came through our non-sanctioned open house and LOVED it.

My theory… Agent:" Guys, guess what. That house you liked fell through and is for sale again"
My agent even admitted to telling us a FSBO was not available “Before she knew us”

But, at least she took shitty cell phone pictures, uploaded incorrect info to the major sites that replaced our
correct info and better pics.

We will see how this whole process goes… I’m sure I will be #homeless sooner than I will be comfortable.
My wife was opposed to buying an interim duplex to live in :?

[boardjnky4]

[quote=“drvnkd,post:56,topic:274011"”]

Had our 1st showing prior to a ‘sanctioned’ open house.
It was a couple that was very interested after they came through our non-sanctioned open house and LOVED it.

My theory… Agent:" Guys, guess what. That house you liked fell through and is for sale again"
My agent even admitted to telling us a FSBO was not available “Before she knew us”

But, at least she took shitty cell phone pictures, uploaded incorrect info to the major sites that replaced our
correct info and better pics.

We will see how this whole process goes… I’m sure I will be #homeless sooner than I will be comfortable.
My wife was opposed to buying an interim duplex to live in :?

[/quote]

I’m sure you probably signed a contract with the agent, but if you decide to change realtors, call the person who’s name I posted above. The pictures they took made the house look amazing.

[tpgsr]

[quote=“drvnkd,post:56,topic:274011"”]

Had our 1st showing prior to a ‘sanctioned’ open house.
It was a couple that was very interested after they came through our non-sanctioned open house and LOVED it.

My theory… Agent:" Guys, guess what. That house you liked fell through and is for sale again"
My agent even admitted to telling us a FSBO was not available “Before she knew us”

But, at least she took shitty cell phone pictures, uploaded incorrect info to the major sites that replaced our
correct info and better pics.

We will see how this whole process goes… I’m sure I will be #homeless sooner than I will be comfortable.
My wife was opposed to buying an interim duplex to live in :?

[/quote]

We should have talked first… I can show you some of the better listings that my top agents handle, multi-million homes are treated the same as the 100k home, just might not pay for aerial shots or staging etc…

[drvnkd]

No worries. I had low expectations from the start, so…
My wife will get all of those little irritations corrected.

But, does anyone make a pre-formed chimney flashing kit of some sort.
I need to replace my half ass job with something nice, but do not have any way to bend the sheet metal so that I can tuck it into the brick.

[ultradriver10000]

My agent in Houston rocked. She has a professional photographer come in and shoot the house. The photos were so good I asked to keep them and she send us a CD with them loaded on it as well as emailed us a zip full of hi res. She held a Realtor open house, as you don’t want to show houses to individuals, you want to show agents.