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As a seasoned buyer, I know that the 6% Realtor Commission actually comes out of the equity of the home. This lie that Realtors tell buyers that the Seller pays their commission is a joke to those who understand how things really work.

Why aren't more buyers and seller waking up to this PRICE FIXING the Real Estate industry has been able to get away with and how can consumers stop Realtors from getting away with taking 6% of the equity out of homes for doing something a monkey can do?

Guest

Hurry up and get your real estate license !

Guest

I gree, Realtors are not needed in the transaction at all if you ask me. They do nothing but complicate the transaction and cause troble the who way only to ride off into the night with 6% of the Consumer's Equity.

I suggest any buyer reading this to do their homework and deal with a Professional Realtor who is willing to share and pay your closing costs.

Go on line and find a local real estate company that offers Realtor Rebates to buyers. You will be surprized at how many offer this rebate and will do the same job as those Realtors who charge you full price.

That's my 2 cents.

raymond · Posted: Sun Jan 24, 2010 10:04 am Post subject:

>>This lie that Realtors tell buyers that the Seller pays their commission is a joke

No it's not - the equity is converted into cash during the funding portion of the transaction and the Seller can either keep that 6% of cash for themselves (if they sold the home themselves) or use it to pay the Agents (if they use Real Estate Agents).

The 6% fee isn't cast in stone and is completely negotiable. You're suppose to be interviewing Agents prior to hiring one, and that fee is one of the things you can negotiate. The lowest I've seen is 4%.

A good Realtor is worth their weight in gold and will help you through the bumps and excessive paperwork. A bad Realtor is just that, a bad Realtor - and you'll be frustrated and stressed out during the entire transaction. Do your due diligence and interview several Agents first, selecting one you're comfortable with, and lots of local experience.

>>As a seasoned buyer,

Why are you even concerned about the fee? You're not paying it - you're going to receive your Realtor's services for free.

Guest

raymond,

What planet are you living on? how long do you honestly think consumers are going to keep falling for that soame worn out lie about the seller paying the commission?

A good Realtor is worth their weight in gold? Give us a break! Stop trying to make what they do something more than what it really is and that's nothing more that a MLS menu reader with a GPS and lockbox code.

I tell my friends to ask to find a Realtor who is realistic about what they charge and will do the job for a reduced flat fee. Or ask them to work by the hour and refund the rest of the 3% to pay closing costs at closing.

Consumers reading this all agree I'm sure that it's time someone put an end to realtors taking so much for a job that anyone could do.

Guest

Raymond,

Are you a Realtor? That is the same scam Realtors have been pushing for too long. Man o war is echoing many consumer's feelings about Realtors cleaning out their equity for doing a task that has become far less difficult due to the internet.

We sold our house without using a realtor and saved $45,000 just by marketing it on some websites and spending a few bucks (about $1,200 in all)

Realtors are not needed in the 21 century for the most part.

raymond · Posted: Sun Jan 24, 2010 11:09 am Post subject:

>>What planet are you living on?

I thought it was the same planet you're from, but could be wrong.

>>Consumers reading this all agree

I'm a consumer, and I don't agree with you, so your statment is wrong. Many of my friends and peers don't agree with you either.

>>I'm sure that it's time someone put an end to realtors taking so much for a job that anyone could do.

Some people think like that, at least initially, so they attempt to sell their property "for sale by owner". Over 90% of those folks give up and hire a Realtor. Seems they learned there's more to it then "a MLS menu reader with a GPS and lockbox code".

I could do my own taxes if I wanted to - all I've got to do is open a book and follow the directions. Anyone could do it. But I prefer to leave something as important as that to a trained and licensed professional. Come to think of it, there's lots of things I could do myself - all I've got to do is buy the book and follow directions. Same with selling a house, there are lots of books available and all you have to do is follow the directions. But buying and selling Real Estate is one of the largest financial decisions I'll ever make, so I prefer to hire trained and license Professionals to assist me.

It sounds like you hate Realtors, and that's okay, it's a free country. But "all consumers" don't agree with you.

What's your Profession? Is it something I could do myself? Do they offer books that tell me how to do the stuff you do? Or should I hire you?

raymond · Posted: Sun Jan 24, 2010 11:17 am Post subject:

>>Are you a Realtor?

No, but I am a licensed Real Estate Agent in the State of California.

>>We sold our house without using a realtor and saved $45,000 just by marketing it on some websites and spending a few bucks (about $1,200 in all)

Good for you, most homeowners aren't as successful as you. Last April I sold a condo in Irvine, and I hired the best Realtor I know to handle the transaction for me, and it was worth the 6% I paid. Even though I'm licensed, I've never used my license for Real Estate transactions - I know my limitations and know when it makes sense to hire the best.

Guest

What about buying a home? A buyer is crazy to give away 3% of home equity to a buyer's agent for something so simple as reading the MLS. You seem to think these people are something they are not.

What could a buyer's agrent possibly do to think they deserve 3% of the equity in a $300,000 home these days? I say they should accept $2,000 flat fee and stop stealing Consumers equity

I am shocked to see how so many consumers continuiously allow realtors to suck the equity out of the purchase as if they actually knocked on doors for a buyer asking

raymond · Posted: Sun Jan 24, 2010 2:43 pm Post subject:

Who is really asking me these questions? It seems "man o war", "bibi" and "girlpower" are all the same person - supporting oneself. For example, bibi and girlpower asked me the exact same question - verbatim. You've got to be loggin in as different people to do that.

>>What about buying a home? A buyer is crazy to give away 3% of home equity to a buyer's agent

The buyer doesn't give away 3% when using a buyers agent. The buyers agent is paid by the seller.

>>What could a buyer's agrent possibly do to think they deserve 3% of the equity in a $300,000 home these days.

Based upon the questions you ask, you have no idea how much expertise and education is required to assist a consumer with buying or selling Real Estate. To answer your questions, I suggest taking the courses your State requires to obtain a Real Estate license. You'll be presented with the fundamentals during that time, and many of your questions will be answered.

Guest

STOP!!!!!!!! STOP with that BC telling consumers that seller pays the buyer's agent! We all know that if the seller did not have to pay the buyer's agent or the buyer's agent would agree to take less then the seller could sell the home for less to the buyer! So who is really paying the Buyer's Agent?

So stop with that worn out scam that realtors tell buyers because it's not working anymore! Consumers a not stupid like they were a few years ago..

Have you ever searched Realtor Rebates on line? CA is a rebate state. If a consumer could work with a rebate realtor that is every bit as good or better than a FULL price buyer's agent and have all their closing costs paid, what fool would choose different?

Please answer that Raymond?

raymond · Posted: Sun Jan 24, 2010 3:17 pm Post subject:

Now you're "man o war" ...

>>So stop with that worn out scam that realtors tell buyers because it's not working anymore!

Whatever - we're all different and think differently. You have your opinion, and I have mine. I'm of the opinion "you get what you pay for". If you're comfortable working with a flat rate Agent, then go for it. Personally, I'm only comfortable with a seasoned Professional for my Real Estate transactions, and don't mind paying the going rate for that level of expertise. It would be nice if the best Agents were flat rate, but they're not, because they don't have to be.

Guest

OMG! Will you please stop with the best and most Professional Agent BC! Stop trying to elevate them to a position that they don't rate!

It's thinking like that which keeps the American consumer under the price fixing scam called real estate commission. it's all BC and WE ALL KNOW IT!

What if a Mortgage Broker was charging 6 points and another was charging 1 point at the same rate on a 30yr fixed loan? it's the same scenario. there is nothing a realtor can do these days to earn 3% on a 500k sale, NOTHING!

I am so sick of everyone making realtors out to be this god like figure that we can't do without when the facts are they times do nothing but kill deals and get in the way.

6% earned commission? makes me want to puke!

Guest

I agree with man o war, realtors have had a free pass to take America's equity for too long!

That 6% commission needs to be cut to 1% MAX. To think a realtor can list a home on the MLS and then share the spoils of 6% = $30,000 on a $500,000 home SHOULD BE A CRIME!

BUYER'S AND SELLERS need to work with discount real estate offices or negotiate that BC 6% down before Listing a home and lower the BC 3% down when buying a home.

Guest

I am a real estate agent, and I am not here to change anyone's mind. Some people find real estate agents valuable, and they are willing to pay for their service. Other people don't and find other ways to get the job done. Nobody is right or wrong, it's just a different means to the same end. If someone does need help finding a home in the Las Vegas Valley I welcome them to contact me. My home page is tonykasunic.com Thank You.

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WHY DO REALTORS FEE THEY CAN CHARGE 6%?

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