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#108113 - 12/11/05 05:03 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Well, if you offer below 2%, you are not even on anyone's screen that I know.

Anything below 2% is filtered out, so why even put it on the MLS?

Punch in three beds, two bath and see how many listings pop up. 758+ here...

1.5%? Not even going waste my time.

1.5% is right up there on the DOA list as a listing without pics.

But then again, a greedy agent knows that...
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

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#108114 - 12/11/05 05:09 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Quote:
Originally posted by gawdzzzla:
"""""""""""In a buyers' market, the agent with a qualified buyer is King!!""""""""""

I agree completely but what if you don't show them a house for less than 2.5% then they find it themselves on the web through any of the hundreds of realtors sites?
More power to them...

I have kicked buyers and sellers to the curb before, and I'll do it again... Thing is, they are locked in with me for 3-months as buyers, 6-months minimum as sellers wink
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

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#108115 - 12/11/05 05:16 PM Re: assist 2 sell or 1 percent realty?
Jeff Adams Offline
Member

Registered: 12/08/05
Posts: 385
Loc: Monterey CA
NAR statistics show that if a potential buyer comes to an open house and talks to the owner, the property is likely to sell for 17% less then if a realtor dealt with the buyers and their agent. Why is that? Because most people talk too much and give out information that allows the buyers and their agent to negotiate the price downward.

Why are used car dealers able to sell cars so much higher then private sellers? Because they don't have an emotional investment in the car and they're professional negotiators. People who want to "do it themselves" will find out that the hard way.

If your house sells for 17% less then an agent could have gotten for it, was that cheap 1.5 commission worth it????

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#108116 - 12/11/05 05:38 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
"""""""""""If your house sells for 17% less then an agent could have gotten for it, was that cheap 1.5 commission worth it????""""""""""""

Can you provide reference or link to the 17% study?

If a buyer were to read what you just wrote he would go straight to the listing agent or seller using the web. Sounds like if I were a buyer I could save 17% by going straight. Why would anybody want to use a buying agent?

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#108117 - 12/11/05 05:40 PM Re: assist 2 sell or 1 percent realty?
ScoFla Offline
Member

Registered: 09/06/05
Posts: 410
Ooops, I was under the impression we were talking about a regular listing on MLS. Of course it can be nitpicked to death as to why it isn't necesary to offer a competitive commission to a buyer if it is a special listing or whatever.
I guess some people just like to be rules lawyers smile

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#108118 - 12/11/05 05:40 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
""""""I have kicked buyers and sellers to the curb before, and I'll do it again... Thing is, they are locked in with me for 3-months as buyers, 6-months minimum as sellers """"""

Does your contract state you will show them all the houses or only ones you decide for them? A contract can be voided if either party breaks any of the terms.

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#108119 - 12/11/05 05:43 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Quote:
Originally posted by ScoFla:
Ooops, I was under the impression we were talking about a regular listing on MLS. Of course it can be nitpicked to death as to why it isn't necesary to offer a competitive commission to a buyer if it is a special listing or whatever.
I guess some people just like to be rules lawyers smile
I agree completely if you are using the mls. But a 1% company or assist2sell doesn't have to use mls to be called a full service company.

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#108120 - 12/11/05 05:50 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
Quote:
But a 1% company or assist2sell doesn't have to use mls to be called a full service company.
According to whom? What, exactly would you describe as full-service?
If you don't use the MLS, you would be depriving your seller of one of the best selling tools.
But--oops, Mr. Seller, we forgot to tell you that in our advertising.
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108121 - 12/11/05 05:52 PM Re: assist 2 sell or 1 percent realty?
Alan From Florida Offline
Veteran Member

Registered: 05/10/05
Posts: 906
Loc: Tampa Bay Florida
Quote:
Does your contract state you will show them all the houses or only ones you decide for them? A contract can be voided if either party breaks any of the terms.
There you go trying to defend yourself by avoiding the issue. Plus you are now trying to point the issue to the a contract. The issue is weather you can tell someone how much they can earn. You can not force a broker into a certain compensation. What you are saying is I insist you work for XYC pay and that is not legal. Compensation is totally negotiable. Compensation is the issue not a buyer contract. This is the bait and switch that I object to.
_________________________
Alan Plager E-Pro
Prudential Tropical Realty
Over 2500 Units Sold
Please click here to request my list of reo and or investment properties

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#108122 - 12/11/05 05:53 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Quote:
Originally posted by gawdzzzla:
"""""""""""If your house sells for 17% less then an agent could have gotten for it, was that cheap 1.5 commission worth it????""""""""""""

Can you provide reference or link to the 17% study?

If a buyer were to read what you just wrote he would go straight to the listing agent or seller using the web. Sounds like if I were a buyer I could save 17% by going straight. Why would anybody want to use a buying agent?
Because sellers are liars and agents have a license and deep pockets... At least traditional Realtors...
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

Top
#108123 - 12/11/05 06:02 PM Re: assist 2 sell or 1 percent realty?
Orangecrest Offline
Veteran Member

Registered: 08/05/05
Posts: 778
Loc: Riverside, CA
Quote:
Originally posted by gawdzzzla:
""""""I have kicked buyers and sellers to the curb before, and I'll do it again... Thing is, they are locked in with me for 3-months as buyers, 6-months minimum as sellers """"""

Does your contract state you will show them all the houses or only ones you decide for them? A contract can be voided if either party breaks any of the terms.
All houses I decide to show them... Because when they see the hundreds pop up on the screen and then that is when I use my professional abilities to narrow them down to a realistic tour.

If there is a house in the way that I am not sure what the terms are, we will write down the address and bring it up on the computer when we get to the office to see if it meets everyones criteria, and if it is even avaliable.

Majority of agents don't even bother returning calls, and no one wants to get a client all hyped up about a house if it isn't avaliable, or is below 2%... laugh
_________________________
Views and Opinions are my own,they are not to be used in anyway:medical treatment,cure disease,legal advice,tax advice,to fly a plane,stock tips or any other form other than simple conversation.I represent no one but myself,period.

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#108124 - 12/11/05 06:05 PM Re: assist 2 sell or 1 percent realty?
ky realtor Offline
Major Contributor

Registered: 04/21/05
Posts: 1879
Loc: kentucky
Quote:
and no one wants to get a client all hyped up about a house if it isn't avaliable, or is below 2%...
Especially when you inform them they have to pay the difference----- :rolleyes:
_________________________
Comments made are my opinion, and not intended to be legal advice of any kind.

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#108125 - 12/11/05 06:07 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
""""""""""There you go trying to defend yourself by avoiding the issue. Plus you are now trying to point the issue to the a contract. The issue is weather you can tell someone how much they can earn. You can not force a broker into a certain compensation. What you are saying is I insist you work for XYC pay and that is not legal. Compensation is totally negotiable. Compensation is the issue not a buyer contract. This is the bait and switch that I object to. """"""""""""""

I'm not pointing this to the contract but the contract should state what your services will include and what kind of houses they will see.
There have been lawsuits filed against agents for showing only houses that pay a certain commission without disclosure. I recall reading one buyer that said the agent showed him a house for $250K but there was one nearby for $225K. It turned out that the 225K didn't offer commission. The buyer agent failed to disclose this and the judgement ruled in favor of the client.

How is this avoiding the issue of whether a full service can offer/how much to a buying agent? It seems like you're defending the notion that everybody should offer 2.5% to get buyers.

That's bait and switch from preaching that commission is negotiable.

If the market doesn't want to sell houses below a certain commission let the market determine this otherwise all this will lead to more buyers using the web to reach listing agents directly.

Once buyers know that they can buy a house for 17% less by going direct that's what they'll
do. Sellers are liars but the listing agent and seller must also disclose material facts pertaining to every sale sale.

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#108126 - 12/11/05 06:09 PM Re: assist 2 sell or 1 percent realty?
gawdzzzla Offline
Member

Registered: 11/19/05
Posts: 413
Loc: Minneapolis, Minnesota
Quote:
Originally posted by ky realtor:
Quote:
and no one wants to get a client all hyped up about a house if it isn't avaliable, or is below 2%...
Especially when you inform them they have to pay the difference----- :rolleyes:
I agree as long as you disclose it you should be fine but that will encourage people to go direct using IDX searching.

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#108127 - 12/11/05 06:43 PM Re: assist 2 sell or 1 percent realty?
Alan From Florida Offline
Veteran Member

Registered: 05/10/05
Posts: 906
Loc: Tampa Bay Florida
Quote:
I'm not pointing this to the contract but the contract should state what your services will include and what kind of houses they will see.
There have been lawsuits filed against agents for showing only houses that pay a certain commission without disclosure. I recall reading one buyer that said the agent showed him a house for $250K but there was one nearby for $225K. It turned out that the 225K didn't offer commission. The buyer agent failed to disclose this and the judgement ruled in favor of the client.
Agian please do your homework. I know of the case you are talking about. The thing about that case that got the agent is trouble was saying he would not show XYCABC realty listings. That is not allowed but you can say I will not work for X compensation. There is big time difference. That agent was guilty of boycotting.

Quote:
How is this avoiding the issue of whether a full service can offer/how much to a buying agent? It seems like you're defending the notion that everybody should offer 2.5% to get buyers.
Again you are trying to point the issue somewhere else. Please go back and read this thread. The issue I was talking about was as an agent using all the tools available to get a seller the highest net possible. And that was including placeing a listing in the MLS system or not. I was not talking about what compensation to offer.

Quote:
If the market doesn't want to sell houses below a certain commission let the market determine this otherwise all this will lead to more buyers using the web to reach listing agents directly.
I do agree with you on this. And I am seeing that with buyers on the internet that they are going to the listing agent more and more.

Quote:
Once buyers know that they can buy a house for 17% less by going direct that's what they'll do.
Yes but how do they know that for sure. And may I have your permission to use this. If I charge 6 or 7 percent and if the buyers are expecting 17% less for not using me, it sound a lot like you just justified why a seller should use my services for I just got the seller 10% more in his/her net. I really appreciate your information here.
Quote:
Sellers are liars but the listing agent and seller must also disclose material facts pertaining to every sale sale.
Where in the world is that comming from. So do you call all your seller liars. I would never dream of calling a seller a liar. And of course sellers must disclose material facts pertaint to the sale and or property.
_________________________
Alan Plager E-Pro
Prudential Tropical Realty
Over 2500 Units Sold
Please click here to request my list of reo and or investment properties

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