Housing Rumble: Do You Need an Agent? (Day 2)

Nice site

Nice article

arhiderrr of DE @ Feb 28, 2009 19:21:59 PM

Nice site

Nice article

arhiderrr of DE @ Feb 28, 2009 10:27:47 AM

agent or none

Greg makes good points but I'd like to also hear the benefits for a buyer.

Chiamaka of PA @ Nov 25, 2008 08:20:40 AM

Listing agent doesn't get the 6%

Clarification, please. The listing agent does not get the 6% of the commission - half of that will go to pay the buyer's agent for the buyer representation services. When ForSaleByOwner.com lists homes in the MLS (an absolute must to sell a home) through affiliated brokers, the home is technically listed by a broker for a discounted commission. So it's misleading to state that the buyer saves 6%. The seller will still end up paying 3% or so to the buyer's agent plus whatever fee to ForSaleByOwner.com for "listing" the property.

That's a great business model, do nothing but enter a property in the MLS and get paid. How do I join?

Healy forgot to mention that the reason commissions are so "steep" is because of advertising costs. $2,000 - $3,000 per home whether or not it sells (more than 50% of them will not). Do the math and then figure our how much does the agent really makes.

I stopped listing homes at discounted rates. Sorry, but real estate business model is too risky to afford discounted prices. Unless of course you simply charge hundreds of dollar for data entry and provide zero representation, zero advertising, zero risk and call it "for sale by owner".

Konst of PA @ Nov 20, 2008 00:06:16 AM

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Aboutsodfd @ Sep 13, 2008 05:41:27 AM

Corruption of a Good Thing

Tell me if I am wrong:

1) Failure to properly analyze risk results in unusual loan losses - Interest rate justifies risk and therefore 100% rate means 100% certainty we will not have delinquency -- what?

2) Parties to a contract paid based upon the highest price obtained has an interest to do only one thing and that is to promote the highest price;

3) We buy out of passion not sensibility -- next time you use your walkman you talk to me of essentiality;

4) Greed looks good on Paper until the truth is published;

5) If you make money as much as you can and as fast as you can ethics is hard to retain;

6) Loan programs that will result in a sale is perceived as a good thing;

7) Legislators don't have time to legislate;

8) Enforcers don't have time to enforce;

9) Honesty has a price that no man is oft willing to pay;

10) Last and not least is that we have so much money that we have to pay overtime to print it.

You figure it out and then let me know the answer.

Norm Barnes of @ Sep 02, 2008 22:33:18 PM

Healy is incorrect

I do have to correct Healy here. You HAVE TO HAVE A REALTOR TO PUT A HOME IN MLS. By putting a property in MLS you as the seller create an agency relationship with a real estate agent/broker. Multiple Listing service is created and maintained by REALTORS. Simply enough, we pay for it, we work it and maintain it. By putting your property on it, you are working with a REALTOR. The difference is your compensation and services provided are less that a typical full service REALTOR. If you don't like that, you can creat your own, become a REALTOR youself, or simply don't use it. That's the great thing about our country... You, the consumer, always have the right to choose.

LSW of TX @ Aug 06, 2008 15:47:10 PM