Realtors Are Conman

[integral]

I don't get why anyone would give a realtor a percentage of there house. If it takes them 3 days to sell a house and its worth 1 million or if it takes them 3 days to sell another house that worth 10 million, why in the world do they deserve more money?

1. In the past a realters job was a salesman, they had to do hard work, have a marketing strategy and go door to door to actively sell your house.
2. Now people call a company and the company assigns them a realtor that then puts there house on the internet and they wait for people to call them with no effort. 

The old realter we can argue deserved a percentage the current ones don't do much.

A realter should be paid by job a fixed rate. 

Edited June 11, 2023 by integral

[Schizophonia]

The owners can't take care of all that for several reasons.

[BlessedLion]

There's a lot more to selling than house than you think. You have to be extremely socially calibrated, if someone can do a good sale, it's worth it to a lot of home sellers.

 

The market always balances itself out, if something is expensive there is usually a good reason for it.

[integral]

8 minutes ago, BlessedLion said:

There's a lot more to selling than house than you think. You have to be extremely socially calibrated, if someone can do a good sale, it's worth it to a lot of home sellers.

The market always balances itself out, if something is expensive there is usually a good reason for it.

I understand the value of social skills and being a good sales man, but that's literally there job, of course there good at it. Im not seeing why they need to be paid so much for doing something that is there basic job requirement.

The standard should be a fixed income, it doesnt matter what the price of the house is thats completely arbitrary and unrelated to them in every way.

So if your house is worth more then you need to pay the exact same realter 3x more then your neighbor across the street? 

The math does not add up. People are being fooled. 

Edited June 11, 2023 by integral

[puporing]

Haha, it's just normalized/legalized mafia/gatekeepers. Same with most those lawyers who charge an arm and leg just to sign your paperwork for a purchase, and mortgage brokers too probably though I don't know their margins. You can tell it's "mafia-like" because I've dealt with both lawyers and mortgage brokers who will at the last minute up their rates (because you have a deadline).

They're all just "paper shufflers" who add no value (beyond their time) and steal from you. There's no reason why all that can't just be automated or at a much more reasonable cost.

Instead all their inflated costs does actually contribute to inflating of housing cost.

It's part of why I said in another post "people are overpaying for bathrooms".  

legalized bullshit . 

(I would care less if it wasn't on something so essential as housing).

Edited June 11, 2023 by puporing

[Leo Gura]

4-5% is the standard rate for selling a house.

If you have a good negotiator on your side he can save you money.

Also, realtors often come with contacts and clients.

Edited June 11, 2023 by Leo Gura

[LSD-Rumi]

@integral Selling a property is a harder job than you think. It is like saying lawyers are consmen, in some cases they are, but in many, they can save your ass..

[integral]

Im guessing there is nuance here, for most properties im willing to bet just listing it for sale priced well is good enough. For hard to sell properties then a realtor can help with that. 

31 minutes ago, LSD-Rumi said:

@integral Selling a property is a harder job than you think. It is like saying lawyers are consmen, in some cases they are, but in many, they can save your ass..

I can see how a lawyer is vital for understanding legal details, but how does a realtor save an ass? lol

[integral]

2 hours ago, puporing said:

Haha, it's just normalized/legalized mafia/gatekeepers. Same with most those lawyers who charge an arm and leg just to sign your paperwork for a purchase, and mortgage brokers too probably though I don't know their margins. You can tell it's "mafia-like" because I've dealt with both lawyers and mortgage brokers who will at the last minute up their rates (because you have a deadline).

They're all just "paper shufflers" who add no value (beyond their time) and steal from you. There's no reason why all that can't just be automated or at a much more reasonable cost.

Instead all their inflated costs does actually contribute to inflating of housing cost.

It's part of why I said in another post "people are overpaying for bathrooms".  

legalized bullshit . 

(I would care less if it wasn't on something so essential as housing).

?Thats basically what im thinking, where is the uberfication of real estate??? 

[puporing]

41 minutes ago, integral said:

?Thats basically what im thinking, where is the uberfication of real estate??? 

 

1 hour ago, integral said:

Im guessing there is nuance here, for most properties im willing to bet just listing it for sale priced well is good enough. For hard to sell properties then a realtor can help with that. 

I can see how a lawyer is vital for understanding legal details, but how does a realtor save an ass? lol

I guess it's not that they have ZERO value, but it's way out of proportion with the cost. Mostly we're just brainwashed to paying them. I can't see other explanations.

I've been on the buyer's side where I represented myself for negotiations and signing for a small purchase, and it was pretty easy (just made sure I did my property inspections). Not saying I recommend this but it is not worth whatever they're charging lol.

Lawyers too for straight forward real estate transactions - it's like one of the easiest boiler plate kind of deal for them, no case prep, no court appearance. I've had one that even messed up my name on the title. And I could barely get ahold of them on the phone. Goes to show how much effort they put into it..

I have no problem paying people but the cost they charge is obviously not fair. And I haven't looked into why there's like no competing alternatives, I think it's because realtors are registered under an association that partly work to block other alternatives. I think they also control the main advertising channels so you can't just do it yourself. 

Also consider the joint relationship between Realtors, Real Estate Lawyers, Mortgage Brokers, Banks. They probably work to protect each other and makes it that much harder to introduce competition.

The fact that it is an irregular "one-off" purchase for most people means they are more likely to just suck it up..

Edited June 12, 2023 by puporing

[LSD-Rumi]

@integral When people look for buying a proprity, they go to retailers.

[gettoefl]

you are successful in life to the extent you hire a good middle-man-person

selling a house is one of life's most fraught episodes

pay 5% for the best middle-man so you can sleep easy

or try it person to person and see if you can pull it off

i did both ways and so i recommend a middle man

 

[Snader]

If the deal gets disputed later for whatever reason, an experienced relator might come in handy as he's aware of the legal stuff and can help you work that out or even prevent that.